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Except, of course, for Wall Street, other corporate favorites, imperial adventurism, war profiteers, tax cuts for the rich and super-rich, and other privileged beneficiaries on the government dole. Only the little people make sacrifices, collateral damage in Pentagon-speak. Others do very well, thank you very much, including $30 billion more for businesses that buy equipment in the next two years.
Neoliberal Austerity Coming
Other handouts will follow, generous ones if Obama's deficit cutting commission proposals are adopted. An earlier article addressed them, accessed through the following link:
They include dramatically cutting income tax rates to 9, 15 and 24%, down from six brackets ranging from 10 - 35% for income over $373,650. Also slashing corporate rates from 35 - 26%, combined with eliminating some deductions easily manipulated around by clever tax lawyers. At the same time, the following pain was proposed:
-- ending or capping middle class tax breaks, including deductions for home mortgage interest and tax-free employer provided medical insurance;
-- deeper Medicare cuts, including higher co-pays and other ways to make recipients pay more;
-- "comprehensive tort reform," making it harder for aggrieved patients to file malpractice suits;
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