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No tax cuts for the wealthy. Use TARP funds to “bail out” the American people.

The Rethugs will get their tax-cut extension for the wealthy, unless progressives can come up with an altenative funding source for middle-class tax cuts, unemployment comp extensions ,  and other middle-class tax cuts, including extensions for ninety-niners.

Using TARP monies and noncommitted stimulus funds might be a way to get around the Rethug connundrum.

I really don’t want the obscenely wealthy to get any more tax extensions. And I really want to see tax cuts extended for the middle-class. I also want unemployment benefits extended for the unemployed – including the ninety-niners.  And I want whatever else we can do to get the American people out of this Wall-Street created crisis.

The present “compromise” will probably succeed right now, because Obama/Geithner, and the Rethugs have divided us by holding ransom both middle-class tax cuts, as well as unemployment comp extension – that doesn’t include the ninety-niners

My suggestion is to not give a tax extension for the wealthy at all.

  • southof’s diary :: ::
  • But the problem as we all know is that we also want to fund unemployment benefit extensions for all the unemployed, including the ninety-niners.  And that unless we can come up with another funding mechanism to fund tax cuts for the middle class, and unemployment compensation, etc., we won’t be able to stop the wealthy’s tax extension — because the Rethugs won’t allow it.

    The Rethugs said for the last few months, at least until the present “compromise,” that they would only support an extension of unemployment comp, if it were funded, and didn’t increase the deficits — hypocrites that the Rethugs are.

    So if it’s posssible, let take the Rethugs up on their suggestion and use the $500-$650 billion dollars that the banks supposedly repaid TARP, and use it for the crisis the American people are in – as a result of the crisis that Wall Street caused.

    What’s fair is fair. We bailed out the banks that caused the financial crisis in the first place, that caused the massive unemployment, bankruptcies, foreclosures, and a host of other problems.

    So now it’s our turn. It’s long past time to finally “bail out” the American people. And we have a right to use this TARP money, because it is from the American taxpayer, in the first place – it’s our money, let’s finally use it when we’re in a crisis.

    The hour is getting short. I don’t know whether this is possible or not. But it may, or may not, be worth a try.

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