Yes, there I said it, "I love you, Paul Krugman."
Why am I in love with a NY times columnist? Because he's not afraid to tell it like it is.
In a column entitled Now That's Rich in Sunday's NY Times, Krugman called for an end to the Bush tax cuts, which will sunset at the end of 2010-- unless the Congress votes to extend these budget-busting give-aways to the rich.
Several weeks ago, Republican lawmakers-- like our 2 Arizona Senators John McCain and Jon Kyl-- started the spin to save the tax cuts for their rich cronies. Earlier in the summer, they voted to deny extension of unemployment benefits because paying these benefits would increase the deficit; at the same time, they were promoting extension of the Bush tax cuts. (It is blatantly obvious whose side they are on.)
The Faux News spin on the sunset of the Bush tax cuts is that Obama is a tax-and-spend liberal who wants to push through the largest tax increase in history-- or some such drivel.
The truth is that Obama wants to extend the miniscule part of the Bush tax cuts that benefits the middle class, while ending the tax cuts for the richest 0.1% of the US population.
According to the Tax Policy Center, full extension of the Bush tax cuts-- originally instituted in 2001 and 2003-- would add $3.7 trillion (with a T) to the budget deficit over the next 10 years. (Click on the link for the full sobering report.)
I say, let's finally give up on trickle down economics and end the give-aways to the richest 0.1% of Americans. Bush and his Republican-controlled Congress (including John and Jon) wrote each of them a check for $3 million. Enough is enough. Don't buy the lie. End welfare to the rich.