As Dday pointed out, WaPo ran a “salutary” and “very accurate” report on how extremely low capital gains tax rates are responsible for making inequality worse in this country. I was struck by WaPo’s willingness to utter the word “ultra-wealthy,” which appeared early in the long article when the Post said this:
What is clear is that the capital gains tax rate disproportionately benefits the ultra-wealthy.
Then I opened my letter from preznit asking me to give him “$500, $750 or even $1000” to help him get re-elected. And it struck me: preznit doesn’t even have the balls to use the word “ultra-wealthy” in his own fundraising letter to people he thinks still support him. Preznit never once uttered the word “rich” or “income taxes” or “revenue” in his three-page letter. Oh, sure, he said “you elected me to make sure that the economy was working, not just for those at the very top,” he mentioned “values” a lot and mentioned “loopholes for the big corporations and banks that haven’t been paying their fair share,” and he said he wanted to “rebuild America from the middle up, not the top down.” I guess he underlined that part to make David Plouffe happy.
But Preznit never wrote a single word about the “rich” or the “income taxes” they pay, probably because he personally saw to it in December 2010 that income tax rates on the “rich” would stay exactly the same as they were under the eight years of Shrub’s administration. Worse, he personally gave away tens of billions of dollars extra in estate-tax giveaways to the heirs & trust fund babies of billionaire estates, also in December 2010. And now, after giving all the money away to the ultra-wealthy, preznit sent me a letter mentioning our “record debt” and the “legacy of debt that hangs over the economy.” Apparently, preznit wants to pay down that debt by raising the age at which I will be eligible to join Medicare from 65 to 67 and cutting back on my Social Security benefits by perverting the “cost-of-living” increase into a “chained-CPI” which will shrink my benefits over time. His letter asking for money didn’t mention those things he wants to do to Social Security & Medicare.
Obviously, preznit can’t handle the truth. I can’t handle four more years of this preznit. Please make him go away.