Winners or Losers

The conversation of the day revolved around winners and losers. Who won the fight between an extension of the payroll tax cut? Who won in the fight to extend unemployment benefits? Once again, creative distraction rules the day and distracts from the real problems we face. In reality, not a single person got hired as a result of this legislative battle. No company was hit with increased demand for products or services necessitating the hiring of more people in order to meet the increased demand. Tax revenues resulting from increased economic activity will not materialize to pay down the deficit. Winner and loser titles remain unchanged. This fight was a draw. The middle class Americans remain the losers. This “victory” will not result in the hiring of an additional teacher, cop, fireman, or other member of middle America. The top 2% retain their title. Actually, those of the top 2% who are salaried will actually pay 2% less of the first $110,100.00. Nothing in this “victory” changes the declining share of costs of government paid by corporations. In addition to benefiting from Bush/Obama tax cuts, reduced tax rates on capital gain income, and all of the existing loopholes, exclusions, and exemptions, the top 2% continue to prove Leona Helmsley was correct when she said, “only the little people pay taxes.” As long as we continue to experience high unemployment, tax laws that benefit mostly the wealthiest Americans, and government by the corporations, of the corporations, and for the corporations, the winners remain the same as before. Sooner or later, the American people will learn that a political victory is very shallow. Those most in need of a victory are still going to have to wait. No legislation is being fought over that will change their lot in life. HAPPY FESTIVUS!