Thursday, December 20, 2012

Federal budget as justice

The website Colorlines summarizes the Fiscal Bluff issue. The authors of the site say that discussions on tax policy are a proxy for the debate on racial equality (that really isn't happening). The debate shouldn't be about who pays and who benefits. It should be about justice. Those in the thick of the debate don't want us peasants to understand what is being discussed. To counteract that Colorlines provides a visual summary of the debate. Alas, if I posted it here you wouldn't be able to read it.

If I read this right, the annual deficit is $1 trillion, meaning over 10 years the debt (already at $16 trillion) goes up by another $10 trillion. The goal of the current negotiations is to cut $4 trillion, meaning in 10 years the debt goes up by only $6 trillion.

Yes, that $6 trillion (and the original $16 trillion) should be addressed. But not on the backs of the poor and middle class, and not so that it prolongs economic recovery.

This summary reminds us that $4.5 trillion of that debt is caused by the Bush tax cuts and two unfunded wars. Think of that money as theft by the rich taken from the middle class and poor.

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