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TAXES: Cuts linked to campaign funding

Letter by Eleanor H. Klauminzer, Gig Harbor on Dec. 13, 2010 at 1:29 pm with 10 Comments »
December 23, 2010 2:15 pm

Throughout the tax cut debate, the most essential political reality, the sine qua non of politics, remains unaddressed: the vicious cycle of campaign funding. It works like this, as far as I can tell:

• Republicans argue that tax cuts for the very wealthy are so important to job creation that they will stall every other piece of legislation to get them. Yet the Bush tax cuts failed to promote job creation. The George W. Bush years were the worst for job creation since the government began keeping records, according to The Wall Street Journal. (The best job creation years were the 1990s – after taxes were raised in order to reduce the Reagan deficits.)

• In order to pay for those tax cuts, the U.S. Treasury must borrow huge sums from other countries, like China. This increases payments on the national debt, which requires budget cuts elsewhere. Social Security and Medicare, which are of crucial importance to lower-income people, get the ax. Low- and middle-income people wind up paying for high income tax breaks but do not benefit from them.

• Tax cuts for the wealthy don’t stimulate jobs, but they do stimulate campaign contributions. What do many high-income people do with their windfall? They contribute to Republican campaign coffers.

• Campaign funding buys Republican seats in Congress, and the cycle continues.

The tax cut plan for high-income people is a job protection plan for Republican (and some Democratic) politicians.

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  1. Roncella says:

    Eleanor, your letter is describing alot of what happened this past November only it was the Dems. with the help of big Unions and George Soro’s and other multi-millionaires who pumped millions into the election and re-election of Dems. all over the Country.

    Its been said President Obama has got a tidy sum of close to a billion dollars together for his run for the Presidency in 2012.

  2. chris3dog says:

    roncella, Labor unions in America have been in decline for decades, and along with that, so has their political influence. The same can not be said of multi-national corporations. There are far more corporations than there are labor unions.

    George Soros, the guy all conservatives seem to loathe, is a minor player and a chumpchange donor compared to the many wealthy corporate donors.

    Obama has a billion dollar war chest? ….puhleeze
    We didn’t just fall off the back of a turnip truck!

  3. redneckbuck says:

    The unions have been paying fines for giving too much!

  4. aislander says:

    Again with the lie that there are new tax cuts–there are not, except for payroll tax cuts that impact low-income folks far more than the rich–and that they must be paid for. When taxes WERE cut, seven years ago (!), revenues didn’t fall off dramatically (not as much as deficits increased); in fact 2007 revenues were a record…

  5. According ot the Wall Street Journal, AFSCME and the Center for Responsive Politics the top spender for the 2009-2010 election cycle was:

    AFSCME: $87.5m
    US Chamber $75.0m
    American CrossRoads $65.0m
    SEIU $44.0m
    NEA $40.0m

    3 of the top five are unions… hmmm. You last line cout read:

    Campaign funding buys Democratic seats in Congress, and the cycle continues…

  6. Also, ditto on the tax cut thingy…

    The congress is attempt to prevent an automatic tax increase.

    Come January 1, 2011 by the time you finish saying Happy New Year all of us who pay federal income taxes will be paying at a higher rate.

  7. Roncella says:

    98411, Thanks for the facts. I rest my case…….follow the money…..

  8. aislander says:

    chris3dog: Soros may not give a great deal under his name, but he supports about 500 501c3s that contribute a LOT…

  9. Interest groups and political parties reported $13.9 million in expenditures to the Federal Election Commission last week. Of that amount, 85 percent was spent on behalf of Republicans and 15 percent on behalf of Democrats.

    http://voices.washingtonpost.com/44/2010/09/conservatives-dominate-campaig.html

  10. Rochelle, Read My Comment – Soros DID NOT DONATE to anyone during the past election cycle. And that includes the mythical 501’s
    .
    Rr98411 – your figures only include money donated directly to candidates and to political parties. They do not include the hundreds of millions of dollars collected by Crossroads GPS, the US Chamber of Commerce, and other swift boat type organizations, and used to fund inaccurate, feat mongering attack adds against Democrats.

    The money trail leads straight to the Republicans who always vote for what is good for the illegal paychecks rather than for what is best for the country and citizens.

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