Posted by: Rick | Thursday, November 10, 2011

The Enemy Within

Tim Dickinson has a must-read piece in Rolling Stone called How the GOP Became the Party of the Rich. Here’s a choice nugget:

To truly understand the depth of the GOP’s entrenched opposition to Obamacare, it’s crucial to understand how the reform is financed: The single largest source of funds comes from increasing Medicare taxes on the wealthy — including new taxes on investment income. According to the Tax Policy Center, Americans who make more than $1 million a year will pay an extra $37,381 in annual taxes under the plan. The top 400 taxpayers would contribute even more: an average of $11 million each.

Rarely in American history has a tax so effectively targeted the top one percent. “It took Republicans about four months to figure out how much they hated it,” says [Robert] McIntyre, president of Citizens for Tax Justice. Republican rage over the president’s health care plan has far less to do with the size of government or the merits of the individual mandate than the blow to the investorclass. If Obamacare remains in place and the Bush cuts for the wealthy expire as planned, top earners will be paying a tax of 23.8 percent on capital gains — more than they have at any time since Clinton cut the capital gains tax in 1997. Health care reform, griped The Wall Street Journal, was nothing but a “sneaky way” for Democrats to wage a “war on ‘the rich.'”

You can’t deal with these people; you can only defeat them.

Advertisements

Categories

%d bloggers like this: