By: Daniel Becker (DOLB)
On Countdown (12/9/10), Keith had on Thomas Buffenbarger, president of the International Machinist Union. It was a chance for an “I told you so moment”in that Mr. Buffenbarger noted while campaigning for Secretary Clinton that President Obama would not be a fighter. Go watch the episode.
I made my position on of Obama clear after the 60 Minutes interview. Mr. Buffenbarger’s comments only reinforces my position as to understanding President Obama as does Obama’s latest “negotiation”. Surprisingly, only 4 comments were made. Too bad, the nation would have been more prepared for this latest act in “Obama the Negotiator. Not!”
But, that is not what got me regarding Mr. Buffenbarger’s interview. No. It was that he confirmed something I have been thinking since Obama stated his compromise policy after this current midterm elections.
…when Bush put the tax cut’s in place, very few of the members I’m privileged to represent noticed any difference in their pay check. And so, if the tax cuts were to go away, and we go back to the tax rates of then, our members would see very little change in their tax rates again.
More to the point of this post. Look at the “Average yearly tax savings” line for those from the lowest to the $383K level. I realize everyone’s situation is unique, but really, the range of the cost of the loss of the tax savings is virtually zero to 2.5% if your at $160K or 1% for those at $383k. As a share of supporting this nation, you/we have been screwed. I ask you all. The bottom 99%. Wouldn’t you like to really stick it to the economic royalty in this nation? Is 1% to 2.5% to much to give to finally get reality into the income tax?
You there in the 95 to 99% category. Your 2001 share of income was 15%. Your projected share of the taxes in 2015 is 18.5% A ratio of 0.81. For your senior income family members the ratio in 2015 is 0.74. Still feeling loved?
Look at it this way. Based on this 2005 chart. The bottom 99% paid 75.3% of all income taxes before the tax cuts. Our projected share for 2015, the very tax cuts Obama et al have just negotiated to keep is 77.1%.
Who loves you now, baby?
Mr. Buffenbarger ended noting that his members understand that paying taxes is a privilege and is an act of support of our country. It is paying our way. So what do you say. Let’s show those at the very top just how unpatriotic they are. Let the tax cuts go and stand proud because honest American justice has prevailed. You just screwed the biggest screwer of them all…The American Economic Royalty.
That is what the real Tea Party was about.