Thursday, February 26, 2009

Every penny of 2% Would be a great start

Some money-grubbing coward at the Wall Sleaze Journal - a staff writer or editor too gutless to take responsibility for this piece of garbage op-ed claims that Obama's plan to increase taxes on the top 2% in order to bring some fairness back to the tax system and put more money back into the Treasury won't work, even if we take every dime.

I say that it probably won't work either, only because nothing really will given the size of the problem, but taking every goddamn dime from the top 2% would certainly be a great start, if for nothing more than the entertainment value of watching the Masters of the Universe cannibalize themselves.

The anonymous writer claims that because taxing the top 2% won't be enough, Obama will have to start taxing the middle class too. This is a classic and thoroughly debunked BS defense that the rich like to throw out as chaff to deflect unwanted attention, and it won't work this time. What little credibilty the WSJ had over the past many years has completed evaporated in this current economic climate. They gotten it wrong on every note, every time, just as they are getting it wrong with this op-ed (with the one exception being this).

Taxing the top 2% will not be enough, that is true. But it would be a hell of a start.

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