Champions of the rich
One month after the midterm elections, the republicans have made clear what their party's goal has been all along- help the rich.
The newly elected republican congressman and senators have yet to be sworn in and their party has already laid down their position to the current administration in writing. The document delivered to Harry Reid (D-Nev.) states firmly that Republicans will work with the Democrats on absolutely nothing, including extending expiring unemployment benefits for millions, until they get their Bush era tax cuts extended for the wealthy. You do have to hand it to the Republicans' openness they aren't even trying to hide the fact they want the wealthy catered to, or there will be gridlock.
Under the guise that extending these cuts to the wealthiest will create jobs, the Republicans used the threat of tax cuts for the middle class not being extended and expiring unemployment benefits and the threat of poverty and homelessness for millions that go with it as blackmail in order to give the rich their cut. The fact of the matter is that these tax cuts, enacted under Bush eight years ago, have done nothing to spur job growth. In fact, we have lost millions of jobs in this country during the life of these cuts. How will extending these cuts do more to create jobs now than they have over the last eight years?
Some who are defending the Republicans and their attempts to make the rich, richer-group themselves in with those the tax cuts benefit, somehow believing that they are part of this club-when it couldn't be farther from the truth. The ones who are really raking it in aren't the 250,000 rich, they are not the 2,500,000 rich, but they are 'ultra-rich'.
A look at where the wealth is in this country shows that the top one percent of wealthiest Americans own 35 percent of its wealth. The next four percent own another 27 percent. Making the top 5 percent of wealthiest Americans the owners of 62 percent of its wealth. The top one percent alone account for 20 Trillion dollars. These are the ones reaping the greatest benefit of the Republican rich boy handout.
During the late 90s and early 2000s, many were under an illusion that they were wealthy, or at least wealthier than they really were as evidenced in the current economic downturn. That kind of thinking could be a reason why some would think they are part of this club. But they are NOT. YOU are NOT. Very, very few are: 250,000 isn't rich. 2,500,000 isn't rich. To be a part of this Republican backed 'rich mans' club', the club which is really making out under these Bush era tax cuts, you'd better come with five times that-or more, or don't come at all.
Last month during the midterms the Republicans cried about entitlements, when they are the champions of the biggest entitlement of all- the ones to the ultra rich.