With only two days left until the curtain falls on the latest act of Washington theatre, Democrats are looking more and more likely to hope for failure. With no hope whatsoever that Republicans will rebuke Grover Norquist’s anti-tax pledge, Wednesday’s likely failure was a foregone conclusion when the committee was set up this past summer.
All summer we saw President Obama on the brink of conceding to Republicans on the social safety net. The President had his base in a fury time and time again with his willingness to allow cuts to social programs, however, every time domestic spending came within the GOP’s grasp they would drift further away on the refusal to agree to any revenue increases. This entrenchment has become deeper and deeper over throughout the fall and showed little promise that the super-committee would have any success.
According to an article, Congress Deficit-Cut Panel Members Hardening Positions as Deadline Nears, by Heidi Przybyla and James Rowley for Bloomberg, Democratic aides state that Democrats have been willing to offer many concessions to the Republicans such as, raising the Medicare eligibility age, change the calculations that would slow social security benefits adjusting to cost of living and other cuts in the amount of 876 billion. However, 401 billion in tax revenue prevents the deal from coming together. The article gives the Republican response as
“The Democratic plan is “a step backwards because it would lock in the largest tax hike in history — at least $800 billion — and add an additional $400 billion in job-killing tax hikes without pro-growth tax reform, plus more than $300 billion in stimulus spending”
Pro-growth tax reform is a Conservative synonym to tax cuts for the so called job creators, not lower taxes for you and me, but lower taxes for the wealthiest Americans. Not every millionaire and billionaire is a job creator. This largest tax hike, is allowing a tax cut that President Bush put into place and President Obama extended (even though he promised not to) to expire. According to Conservative reasoning, no tax cuts can ever exist on a temporary basis. Any tax relief given has to be permanent since once they expire it raises the taxes to the pre-relief rate. As far as Grover Norquist’s pledge, it has created the American for Tax Reform as the de-facto negotiator of the Republican Congress member; a special interest group overtaking a legislatures duty to their primary pledge to uphold and protect the constitution of the United States of America.
Before the Super Committee went into deliberations Berkishire Hathaway CEO and multibillionaire Warren Buffet pleaded with the super committee to help him share the sacrifice of 99.7 of the American people. In an article in the New York Times, Mr. Buffet stated:
“I would raise rates immediately on taxable income in excess of $1 million, including, of course, dividends and capital gains. And for those who make $10 million or more — there were 8,274 in 2009 — I would suggest an additional increase in rate.” (http://www.nytimes.com/2011/08/15/opinion/stop-coddling-the-super-rich.html)
I wish the Republicans would heed the advice from one of the 1% of Americans that their policies seem to be in place to help. However, the only foreseeable outcome from the super committee is that either the American voter will have to decide in 2012 whose policies they want, those that place profit over people, or those that look out the interests of all Americans.