The following editorial appeared last week in the Times of Trenton
By Joshua Henne
Mere days after the polls closed in 2004 — the election he actually won – President George W. Bush proclaimed, “I earned capital in this campaign, political capital, and now I intend to spend it.” Bush garnered 286 electoral votes and called it a mandate.
Well, last month, President Barack Obama racked up a whopping 332 electoral votes in his re-election bid. Now, that’s a mandate.
At its heart, the 2012 campaign was about fairness. And there’s no better way for Obama to level the playing field than by letting the Bush tax cuts expire on the wealthiest 2 percent.
The Senate has already passed legislation S3412, providing tax relief for middle-class families. Right now, Obama would sign a bill extending tax cuts for 98 percent of Americans if it came across his desk. Yet, some stubborn House Republicans continue holding this plan hostage to keep the system rigged in favor of those at the tippy-top. Obama has drawn a line in cement that he’d veto any legislation continuing cuts for those making more than $250,000.
By any metric, America’s most affluent aren’t hurting. In fact, they’re far richer today than at any time in history — taking home a larger slice of total wealth and income than top earners have received in more than 80 years. If the Bush tax cuts were to expire for the top 2 percent, they’d still be able to keep up with the Kardashians.
Allowing the clock to run out on these cuts isn’t merely a symbolic gesture of finally shaking off the yoke of Bush’s failed legacy. There are practical, real-life implications, as well.
Currently, there’s a spirited discussion regarding how to stop our nation from falling off a fiscal cliff. By letting the Bush tax cuts lapse on top income earners, we’d take care of half that conundrum. About $1 trillion would come flooding in over the next decade, half-filling America’s coffers with the money needed to avoid the plunge off said cliff. That’s not a drop in the bucket. It’s a significant contribution toward what’s needed to put our nation back on sound financial footing.
Every year, millionaires receive, on average, $128,832 back from the Bush tax cuts. Economists across the board say this strategy is the least effective way to grow our economy. The very rich simply sit on the additional money, rather than re-circulating it. Ayn Rand’s silly theory that the super-wealthy are society’s saviors has smacked against reality time and time again. Prosperity won’t come from the top down. Rather, we need policies that stimulate and strengthen the middle class.
Furthermore, if we hand hedge fund managers more money to simply add to savings accounts and shore up stock portfolios, we won’t have the funds needed to rebuild our crumbling roads, bridges and energy grid or invest in education, health and innovation. Congress shouldn’t hold the middle class captive just to make sure the Scrooge McDucks of the world can continue swimming around in ever-deepening vaults of cash.
It’s also a canard to claim small businesses would be harmed by ending the Bush tax cuts for the top 2 percent. The truth is 97 percent of them would still see their tax cut extended. Many of the remaining “small-business owners” are lawyers, Wall Streeters and folks who classify as such to take advantage of tax loopholes.
Real small-business owners will tell you they don’t need tax reductions to help them grow. Rather, they need more customers with more money to purchase goods or use their services. Supplying tax cuts to the super-wealthy would purely perpetuate an unfair advantage by giving them more cash on hand, making it even more arduous for actual mom-and-pop stores to compete. So, it’s no surprise that a Small Business Majority poll shows 52 percent of business owners support letting tax cuts lapse for those making more than $250,000.
There is no rational argument for everyone’s taxes to go up just so billionaires get another cut. Congressional members from coast to coast — and especially here in New Jersey — should slip free of the shackles of Grover Norquist’s childish pledge. In terms of sheer self-interest alone, Republican representatives would be wise to stop holding middle-class tax relief hostage, lest constituents remember this in the mid-term elections.
An Americans for Tax Fairness poll shows 67 percent said “making the tax system more fair” was a “very” or “fairly important consideration in making their voting decisions” this year. More people believe in dropping the Bush tax cuts for the top 2 percent than even voted for Obama. The people have spoken from the ground up. They won’t stand for trickle-down economics any longer. This president truly has capital. And he is going to use it.
Elections are about much more than the names at the top of the ticket. They’re also about the ideas, policies and philosophies for which voters are truly pulling the lever. In 2012, the American people clamored for fairness. By allowing the Bush tax cuts to expire on the wealthiest income earners, Congress can show it is listening to the will of the people.
Joshua Henne is a founding partner of White Horse Strategies and New Jersey spokesman for The Action. You can follow @JoshuaHenne on Twitter.
Showing posts with label Americans for Tax Fairness. Show all posts
Showing posts with label Americans for Tax Fairness. Show all posts
Monday, December 10, 2012
Wednesday, December 5, 2012
OVER 150 NEW JERSEYANS COME TOGETHER TO IMPLORE CONGRESS TO LET BUSH TAX CUTS EXPIRE ON TOP 2%
For Immediate Release:
(NEW JERSEY) – With the Bush Tax Cuts set to at the expire of this month, over 150 New Jerseyans took part in a national Day of Action at 4 sessions throughout the state this past Saturday, December 1st. Participants included activists, community organizers, union members, people of faith, volunteers fresh off the Obama campaign and those who simply care about the future our country.
These activist and informational get-togethers took place in Montclair, Pleasantville, Toms River and Willingboro. There, folks learned about the “fiscal cliff” and how it will affect programs the middle-class and working families care about. Specifically, they discussed how important it is for Congress to let the Bush Tax Cuts lapse on the wealthiest 2%. They spoke of ways to mobilize during this lame duck Congressional session and came up with citizen actions to make sure our representatives listen to the will of the people – who voted for fairness at the polls last month.
"This election was all about fairness, and letting the Bush Tax Cuts expire on the top 2% is a strong way to help bring about an America where everyone pays their fair share and has equal responsibility to our communities,” said Jackie Cornell-Bechelli, Campaign Director for The Action and former New Jersey Obama for America State Director. “That's why we saw such a positive response this weekend and that's why we will continue to push Congress to do the right thing.”
“This weekend, New Jersey showed that we believe in tax fairness and an economy that works for 100% of Americans, not just the richest 2%,” said Ann Vardeman, an organizer with NJ Citizen Action and Americans for Tax Fairness. “Our elected officials need to listen to the voices of their constituents and put the needs of the middle-class and working families first.”
If Congress lets the Bush Tax Cuts expire on top income earners, 97% of small businesses and 98% of Americans would continue receiving the exact same tax relief. Moreover, economists have proven tax breaks for the wealthiest Americans are the least effective way to grow the economy.
“Congress shouldn’t hold the middle-class captive just to make sure the Scrooge McDucks of the world can continue swimming around in ever-deepening vaults of cash,” said Joshua Henne, Democratic strategist and spokesman for New Jersey Protect Your Care. “If we hand hedge-fund managers more money to simply add to their savings accounts and stock portfolios, we won’t have the funds needed to rebuild our crumbling roads and bridges, upgrade our energy grid and invest in education, healthcare and innovation.”
Republican Congress Members Jon Runyan, Frank LoBiondo, Chris Smith and Leonard Lance would be wise to keep their finger on the pulse in their district, rather than taking marching orders from right-wing think tanks and Grover Norquist.
“Ending the Bush Tax Cuts for the richest 2% isn’t just a Beltway issue,” said James Gee, veteran political operative. “Real people here in New Jersey are taking interest, because this affects all our lives.”
Throughout the weekend, New Jerseyans throughout the state also took to social media to rally around the cause. Many used the twitter hashtag #TheActionNJ to say why they support letting the Bush Tax Cuts expire on the top 2%. Tweets came pouring in from college students to senior citizens and everyone in between.
The twitterverse saw both Assembly Speaker Sheila Oliver and Jersey City Mayor Jerramiah Healy holding up placards saying “End the Bush Tax Cuts For The Wealthy.”
New Jersey Representatives Rob Andrews and Rush Holt also chimed in this weekend on twitter:
· @RepAndrews: “Let the #BushTaxCuts expire so the wealthiest 2% pay their fair share & America can get its deficit under control #TheActionNJ #TheAction”
· @RushHolt: “A budget is about moral choices. The right thing to do: invest in jobs/schools/R&D - not Bush tax cuts for top 2% #TheActionNJ #TheAction”
For more information – and to see the scope of national activities going forward, please visit www.TheAction.org. You can also find “The Action” on facebook and follow @JoinTheAction on twitter.
Groundswell of Support at Four Sessions Throughout The State
(NEW JERSEY) – With the Bush Tax Cuts set to at the expire of this month, over 150 New Jerseyans took part in a national Day of Action at 4 sessions throughout the state this past Saturday, December 1st. Participants included activists, community organizers, union members, people of faith, volunteers fresh off the Obama campaign and those who simply care about the future our country.
These activist and informational get-togethers took place in Montclair, Pleasantville, Toms River and Willingboro. There, folks learned about the “fiscal cliff” and how it will affect programs the middle-class and working families care about. Specifically, they discussed how important it is for Congress to let the Bush Tax Cuts lapse on the wealthiest 2%. They spoke of ways to mobilize during this lame duck Congressional session and came up with citizen actions to make sure our representatives listen to the will of the people – who voted for fairness at the polls last month.
"This election was all about fairness, and letting the Bush Tax Cuts expire on the top 2% is a strong way to help bring about an America where everyone pays their fair share and has equal responsibility to our communities,” said Jackie Cornell-Bechelli, Campaign Director for The Action and former New Jersey Obama for America State Director. “That's why we saw such a positive response this weekend and that's why we will continue to push Congress to do the right thing.”
“This weekend, New Jersey showed that we believe in tax fairness and an economy that works for 100% of Americans, not just the richest 2%,” said Ann Vardeman, an organizer with NJ Citizen Action and Americans for Tax Fairness. “Our elected officials need to listen to the voices of their constituents and put the needs of the middle-class and working families first.”
If Congress lets the Bush Tax Cuts expire on top income earners, 97% of small businesses and 98% of Americans would continue receiving the exact same tax relief. Moreover, economists have proven tax breaks for the wealthiest Americans are the least effective way to grow the economy.
“Congress shouldn’t hold the middle-class captive just to make sure the Scrooge McDucks of the world can continue swimming around in ever-deepening vaults of cash,” said Joshua Henne, Democratic strategist and spokesman for New Jersey Protect Your Care. “If we hand hedge-fund managers more money to simply add to their savings accounts and stock portfolios, we won’t have the funds needed to rebuild our crumbling roads and bridges, upgrade our energy grid and invest in education, healthcare and innovation.”
Republican Congress Members Jon Runyan, Frank LoBiondo, Chris Smith and Leonard Lance would be wise to keep their finger on the pulse in their district, rather than taking marching orders from right-wing think tanks and Grover Norquist.
“Ending the Bush Tax Cuts for the richest 2% isn’t just a Beltway issue,” said James Gee, veteran political operative. “Real people here in New Jersey are taking interest, because this affects all our lives.”
Throughout the weekend, New Jerseyans throughout the state also took to social media to rally around the cause. Many used the twitter hashtag #TheActionNJ to say why they support letting the Bush Tax Cuts expire on the top 2%. Tweets came pouring in from college students to senior citizens and everyone in between.
The twitterverse saw both Assembly Speaker Sheila Oliver and Jersey City Mayor Jerramiah Healy holding up placards saying “End the Bush Tax Cuts For The Wealthy.”
New Jersey Representatives Rob Andrews and Rush Holt also chimed in this weekend on twitter:
· @RepAndrews: “Let the #BushTaxCuts expire so the wealthiest 2% pay their fair share & America can get its deficit under control #TheActionNJ #TheAction”
· @RushHolt: “A budget is about moral choices. The right thing to do: invest in jobs/schools/R&D - not Bush tax cuts for top 2% #TheActionNJ #TheAction”
For more information – and to see the scope of national activities going forward, please visit www.TheAction.org. You can also find “The Action” on facebook and follow @JoinTheAction on twitter.
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