19 November 2010

The line in the sand: No extension of tax cuts for the rich and no cuts to social security.... saying it again

I say it again. And I will say it again and again. The president needs to draw a line in the sand. 

To President Obama: 

The Republicans are waging all out war on the Middle Class and seniors. The so-called Deficit Reduction Commission was a HUGE mistake on the president's part, because it's stacked with deficit hawks at a time when we need to recover the economy more than we need to reduce deficits. But even more to the point, they were not clearly told in advance that Social Security, which is OFF BUDGET and financed by its own taxes which are in surplus, IS OFF THE TABLE. It is simply outrageous that these right wingers are advocating defaulting on a debt to American workers, who have overpaid their FICA taxes for decades to fund social security, the trust fund of which is now owed trillions by the General Budget.

It is equally outrageous that these right wingers, who FALSELY CLAIM to be concerned about the national debt, want to hold hostage extension of tax cuts for 98% of the public in order to extort an unneeded extension for the richest 2%. Extension of these tax cuts for the very rich would add $600-700 billion to the debt over ten years, so it's pure hypocrisy for the Right Wingers (including, unfortunately some who claim to be Democrats) to claim to be so concerned about the deficit when they're willing to protect the economic interests of some of the richest people in the world on the backs of America's dwindling Middle Class. The President needs to ARTICULATE THIS MESSAGE clearly and repeatedly.

The president needs to go on TV IMMEDIATELY and show some real backbone.

Explain the facts to the American people on these two critical issues. He must CALL THE RIGHT WINGERS' BLIFF, and promise, unequivocally and as strongly as possible:

1. He will VETO any attempt to cut the budget by reducing social security benefits or increasing the retirement age. This would amount to defaulting on America's debt to its FICA taxpayers.

2. He will sign an extension of Middle Class tax cuts, but will VETO any bill that includes an extension of the Bush tax cuts for those earning over $250K, period, so don't send any such bill.

Thank you. 

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