Wealthy Americans Should Give Away Their Tax Cut

A group of Ivy League professors is urging wealthy Americans to donate their gains from the controversial Bush tax cuts that should have expired at the end of 2010, only for Republicans in Congress to force an extension. At their site Give It Back For Jobs they explain:

Give It Back For Jobs
When the Bush administration took power in 2001, it enacted massive tax cuts that disproportionately benefited the wealthiest Americans. These beneficiaries represented the very segment of American society that had already seen their share of national income balloon over the prior generation.

The cuts were defended in the name of the unexpected budget surpluses produced by the growth of the Clinton years. Even so, President Bush could not convince enough of the Senate that the cuts were affordable to make them permanent, and so they were set to expire next year.

It is now clear that the budgetary consequences of these skewed tax cuts have been dire. At the same time, the anemic expansion of the 2000s produced dramatic growth for the richest but stagnant incomes for most Americans.

Nevertheless, the current Republican Party insists on extending these cuts and holds the working many hostage to the wealthy few. President Obama, unwilling to gamble on the middle class’s account, has acceded to Republican demands.

Quite possibly, the President had no good alternative. All the Bush tax cuts, not just those for the wealthy, were scheduled to expire at the end of this month, jeopardizing an already fragile economic recovery.

But we citizens need not abandon ourselves to this failure of government. Instead, ordinary Americans, acting together, can create shadow fiscal policy. By acting together, we can set the country moving toward a just prosperity. Here’s how.

Americans who have the means should refuse to surrender to Senate Republicans. We should act, together, to give back our Bush tax cuts, by making donations to organizations that promote fairness, economic growth, and a vibrant middle class. Give It Back for Jobs enables joint action, by all visitors to this site, to redirect our Bush tax cuts to the wise and just programs that our government would promote if it had not been hijacked. As more and more Americans do so, Give It Back for Jobs will begin to replicate good government policy, outside the government and free from the grip of Senate Republicans.

We can, in this way, begin to redeem candidate Obama’s promise that “we are the ones we’ve been waiting for.”

So step up y’all and give back at Give It Back For Jobs

,

9 Responses to Wealthy Americans Should Give Away Their Tax Cut

  1. Anonymous January 4, 2011 at 6:05 pm #

    Very timely.

    I’d been practicing my projectile vomiting from Jan. 1 through the 3rd. I am now 100% confident that if I see some prattling jackass in an Armani suit and silk tie waving an American flag as a show of ‘patriotism’, I can git ‘im from 5 yards.

  2. Liam_McGonagle January 4, 2011 at 2:05 pm #

    Very timely.

    I’d been practicing my projectile vomiting from Jan. 1 through the 3rd. I am now 100% confident that if I see some prattling jackass in an Armani suit and silk tie waving an American flag as a show of ‘patriotism’, I can git ‘im from 5 yards.

    • grooveboss January 4, 2011 at 3:06 pm #

      puke on me too please. little preplanned regurgitation from a stranger is the perfect accesorry

  3. grooveboss January 4, 2011 at 7:06 pm #

    puke on me too please. little preplanned regurgitation from a stranger is the perfect accesorry

  4. Ironaddict06 January 5, 2011 at 3:30 pm #

    Come on. Are you serious? I don’t care how much you make, would you really give YOUR money that you earned to the gov’t?

  5. Ironaddict06 January 5, 2011 at 11:30 am #

    Come on. Are you serious? I don’t care how much you make, would you really give YOUR money that you earned to the gov’t?

    • Liam_McGonagle January 5, 2011 at 12:31 pm #

      THEIR money? THEIR money? Like trust fund millionaires aren’t getting their victims to pay the cost of the infrastructure that supports their country club lifestyles?

      So the markets would even be possible without the following government-sponsored infrastructure?

      1.) Heat, electricity, gas, water/sewerage and other utilities
      2.) Roads, bridges, rail, boat, road & airport traffic regulation
      3.) Law enforcement
      4.) Courts to standardize and interpret law to facilitate contract formation
      5.) Bureaus to standardize units of measure to facilitate economic activity
      6.) Centralized monetary authority to create and reinforce integrity of common currency to act as unit of account, store of value, act as medium of exchange and act as transaction clearinghouse in order to facilitate commerce

      You think this stuff is free? You think the trust fund millionaire brats who pay capital rates less than half the marginal rate the rest of us pay are “pulling their own weight”?

      Bull-fucking-shit they are. They’ve just managed to get the under-paid and dis-enfranchised 98% of the population to foot 20% of their rightful share of the cost of running a post-medieval society.

      God the fucking greed and ignorance of self-righteous tax scofflaw fauntleroys and their stooges just god damned sickens me.

  6. Liam_McGonagle January 5, 2011 at 4:31 pm #

    THEIR money? THEIR money? Like trust fund millionaires aren’t getting their victims to pay the cost of the infrastructure that supports their country club lifestyles?

    So the markets would even be possible without the following government-sponsored infrastructure?

    1.) Heat, electricity, gas, water/sewerage and other utilities
    2.) Roads, bridges, rail, boat, road & airport traffic regulation
    3.) Law enforcement
    4.) Courts to standardize and interpret law to facilitate contract formation
    5.) Bureaus to standardize units of measure to facilitate economic activity
    6.) Centralized monetary authority to create and reinforce integrity of common currency to act as unit of account, store of value, act as medium of exchange and act as transaction clearinghouse in order to facilitate commerce

    You think this stuff is free? You think the trust fund millionaire brats who pay capital rates less than half the marginal rate the rest of us pay are “pulling their own weight”?

    Bull-fucking-shit they are. They’ve just managed to get the under-paid and dis-enfranchised 98% of the population to foot 20% of their rightful share of the cost of running a post-medieval society.

    God the fucking greed and ignorance of self-righteous tax scofflaw fauntleroys and their stooges just god damned sickens me.

Leave a Reply