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-- class warfare coming through neoliberal austerity for working Americans, mainly middle class ones, targeted for elimination.
Neither Obama or congressional allies explained it or that both parties accelerated it in recent years.
Super-rich Americans will be further enriched by greater estate tax deductions. The exemption will be raised to $5 million for an individual (up from $3.5 million in 2009) and $10 million per family in addition to cutting the tax rate to from 45 to 35%. It matches levels not seen since the Great Depression's onset, besides the current greatest ever wealth gap disparity, obscene and unjustified by any standard.
In the midst of a deepening Main Street depression, rich and super-rich Americans never had it so good, thanks to Obama and congressional Democrats governing like Republicans, signaling harder times ahead for working households.
In contrast, the administration and Congress initiated no jobs creation programs or serious long-term relief for millions of unemployed, including many who've lost homes through foreclosure. Instead, unemployment benefits are extended grudgingly for limited periods. In prior downturns, they were enacted routinely without expiration until recessions ended.
Handouts to the Rich, Pay Freezes for Federal Employees
On November 29, Obama froze pay for all civilian federal employees, a White House press release saying:
Deficit-cutting priorities take precedence. "Just as families and businesses around the nation have tightened their belts so must their government." As a result, "the President has decided to propose a" two-year freeze through 2012, excluding military personnel and employees getting promotions. The administration calls it shared sacrifice, "another step in what (it's) done as part of its Accountable Government initiative to cut costs, save taxpayer dollars and do more with less in the federal government."
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