Richard Trumka, AFL-CIO.
(Jan 1, 2013)The agreement passed
by the Senate last night is a breakthrough in beginning to restore tax fairness
and achieves some key goals of working families. It does not cut Social
Security, Medicare or Medicaid benefits. It raises more than $700 billion over
10 years, including interest savings, by ending the Bush income tax cuts for
families making more than $450,000 a year. And in recognition of the continuing
jobs crisis, it extends unemployment benefits for a year. A strong
message from voters and a relentless echo from grassroots activists over the
last six weeks helped get us this far.
But lawmakers should have listened
even better. The deal extends the Bush tax cuts for families earning
between $250,000 and $450,000 a year and makes permanent Bush estate tax cuts
exempting estates valued up to $5 million from any tax. These concessions
amount to over $200 billion in additional tax cuts for the 2%.
And because of Republican hostage
taking, the deal simply postpones the $1.2 trillion sequester for only two
months and does not address the debt ceiling, setting the stage for more fiscal
blackmail at the expense of the middle class.
Instead of moving to address our
nation’s real jobs and public investment crisis, our leaders will be debating a
prolonged artificial fiscal crisis. In the weeks to come, as the
confrontation over the economic direction of our country continues, the working
men and women of the AFL-CIO will continue to fight to keep poor and middle
class families from giving more so rich people can continue paying less.
That means a fairer, more progressive tax system, an end to Bush tax rates for
the 2% and protection of Social Security, Medicare and Medicaid from benefit
cuts.
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Ed. Also see how corporations again
milked the system. Here are 8
corporate subsidies in the new tax bill, including subsidies to Disney and
Goldman Sachs. http://www.nakedcapitalism.com/2013/01/eight-corporate-subsidies-in-the-fiscal-cliff-bill-from-goldman-sachs-to-disney-to-nascar.html
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