The "Right" and media moguls who used to anxiously await Alan Greenspan's advise now reject the man once titled an oracle. David Stockman, once characterized as a wunderkind is no longer welcome at the White House, on Wall Street, or in the Mainstream Media studios.
Interesting, or possibly, as expected, the words of the esteemed Mister Zakaria are also void in the less than honest, well honed, and more aired, Cable News Network account. "Federal tax receipts as a percentage of the economy are at their lowest point since 1950, and they had dropped to very low levels even before the recession. Half of Americans now pay no income taxes."
Instead, the report that invites Americans to retain Bush Tax cuts is broadcast farther and wider than the more informed elucidations. Contrary to the tax cutters claims that President Obama plans to punish the Middle Class, Bloomberg reports, "Obama and congressional Democrats want to extend (the tax cuts) for households earning up to $250,000 and let them end for wealthier taxpayers." Fareed Zakaria and perchance more surprisingly, in another forum, David Stockman, wish this were true.
Truthfulness is often tweaked when expert and powerful prose point to a vapid veracity, one that is less desirable to the self-defined blissful spenders who were featured in the ubiquitous Cable News Network account.
The no tax and spend only on self throng condemn the acumen Mister Zakaria avows; "We have to be willing to pay for the government we want, which by the way is among the smallest in the industrialized world or we have to dramatically cut the government, which means cutting popular middle- class programs, since that's where the money is."
No, the pious people proclaim loudly, we will not pay taxes, then assert, we want no government in our lives. Tax cuts advocates forget the foundation that our forefathers fashioned. Essayist, Pamphleteer, Philosopher Paine espoused as Fareed Zakaria did today. The two understood and addressed the necessary apprehension for Administrative rule while each concedes the commonweal must care to invest in the greater good. Were we to forget that no man is an island, we will forsake the future as we have in recent decades. Rarely remembered or recited is the founder's resolve to embrace an elected Legislative and Executive Branch. Perchance today, Fareed Zakaria spoke to the practical reality.
In order to gain a clear and just idea of the design and end of government, let us suppose a small number of persons settled in some sequestered part of the earth, unconnected with the rest, they will then represent the first peopling of any country, or of the world. In this state of natural liberty, society will be their first thought.Instead of Paine's and Zakaria's profundity, the language Americans long for is the sentiment expressed by profiteers highlighted in the Chernoff commentary. Scott Hodge, President of Tax Foundation, an institute that Nobel Prize recipient Paul Krugman acknowledged as an unreliable source, reinforced the accepted alarm. Mister Hodge affirmed, "If Congress does nothing, it could lead to one of the largest tax increases in American history." Robert Traphagen, a partner with Traphagen Financial, and a man who makes money when affluent clients invest in purely personal wealth, affirmed, "If new tax legislation is not implemented, it would be a dramatic effect to the middle class." Indeed, it would.
A thousand motives will excite them thereto, the strength of one man is so unequal to his wants, and his mind so unfitted for perpetual solitude, that he is soon obliged to seek assistance and relief of another, who in his turn requires the same. Four or five united would be able to raise a tolerable dwelling in the midst of a wilderness, but one man might labor out the common period of life without accomplishing any thing. This necessity . . . will point out the necessity, of establishing some form of government to supply the defect of moral virtue.
Were we to adopt as Fareed Zakaria, Doctor Greenspan, and David Stockman think wise, Americans would have more money for schools, streets, services. The middle class would thrive. Media moguls would have less money to survive. Hence, the mantra, the message, If Bush tax cuts expire this will hurt America
References for varied realities . . .
- Meet the Press transcript for August 1, 2001. MSNBC. August 1, 2010
- Fareed Zakaria GPS Transcript Cable News Network. August 1, 2010
- What if Bush Tax Cuts Expire? By Allan Chernoff. Cable News Network. August 2, 2010
- Campaign Finance. The New York Times. July 28, 2010
- Affluent brace for Obama's tax hikes, Bloomberg., April 5, 2010
- Affluent Say Tax Protection Is Greater Concern Than Accumulating More Wealth; Use of Trusts to Protect Wealth Increasing Nationally.. Business Wire. 2010
- Big Paydays for Chiefs in the Media, By Joseph Plambeck. The New York Times. May 2, 2010
- Tax bills in 2009 at lowest level since 1950. By Dennis Cauchon. USA Today. May 12, 2010
- Pity the poor corporations, By Paul Krugman. The New York Times. August 18, 2008
- The Budget and Economic Outlook" Fiscal Years 2008 to 2018. Congressional Budget Office. January 2008
- Washington Post Misleads Readers to Push for Lower Corporate Tax Rates, By Dean Baker. The American Prospect. August 17, 2008
- Study says most corporations pay no U.S. income taxes Reuters. August 12, 2008
- Many Firms Didn't Pay Taxes. Most Corporations Skipped Payments From '98 to '05, GAO Says. By David Cho. Washington Post. August 12, 2008
- ExxonMobil paid no federal income tax in 2009. (Updated). ThinkProgress. April 6, 2010
- What The Top U.S. Companies Pay In Taxes, By Christopher Helma. Forbes. April 1, 2010
- About Mister Zakaria.
- What He Believed and When He Believed It, By Peter T. Kilborn. The New York Times. May 18, 1986
- Stockman, David Alan. Biographical Directory of the United States Congress.
- Four Deformations of the Apocalypse, By David Stockman. The New York Times. July 31, 2010
- Puff-Piece. Wikipedia..
- Greenspan: End Bush tax cuts, By David Edwards and Daniel Tencer. The Raw Story. August 1, 2010
- Will letting Bush tax cuts expire help or hurt America? By Allan Chernoff. Cable News Network. King Broadcasting Company. July 31, 2010
- Greenspan: Let Tax cuts Expire. Cable News Network. July 16, 2010
- Bush-Era Tax Cuts for Wealthy Should Stay, House's Pence Says, By Laura Litvan. Bloomberg. Business Week. August 3, 2010
- The Tax Foundation is not a reliable source, By Paul Krugman. The New York Times. August 24, 2008
- The Greek Menace, The New York Times. August 18, 2008
- Our Fees. Traphagen Financial Group.
- Valued Clientele. Traphagen Financial Group.
- Common Sense. By Thomas Paine. Printed By W. and T. Bradford. Philadelphia. 1791