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Thanks to the Chinese and to your grandchildren

I received my $600 Chinese loan today and I immediately stimulated British Petroleum with $52 "hardly earned" dollars.  As I have no offspring myself, I'd like to personally thank the kind reader's present and future grandchildren for repaying this unsolicited payment to me as its seems unlikely that any serious effort to pay off our crippling national debts will occur in my lifetime.

While I also plan to stimulate the local tire dealer before winter, I can't help but feel I'm part of a larger shell game.  I get a few hundred bucks, the dear reader gets a few hundred bucks, the top 1 percent get billions in tax cuts.  Thousands of homes are in foreclosure; the corporations that created the mess received billions in payouts and the CEOs maintained their million dollar salaries.

Mr. Obama needs to be quite vocal in pointing out that McCain's beloved tax "cuts" without spending cuts are simply tax deferments payable by the middle and lower classes.  Reagan's voodoo economics state that massive tax cuts benefiting primarily the wealthy will increase government revenues so much that what logically would result in a deficit will magically produce a surplus.  Mr. Obama, I beseech you, have your fine, efficient staff produce a simple graph that shows how voodoo economics has produced $200 billion (or more) annual deficits every year under Reagan, Bush, and Bush, and that these three presidents are responsible for $7 TRILLION of our $9.5 trillion national debt.  Am I alone in believing that the Piper must be paid?

Normally, I wouldn't accept a check from an institution with such checkered finances, but I figure as long as the Chinese are backing it, I'll accept the check.  Keep your little ones away from soft drinks and fatty foods and provide them with plenty of exercise.  In two or three decades, they'll thank you daily for the added endurance as they work that second or third job.   


Comments (7)

P.S. I think I may also provide a tiny stimulus, a micro tremor, with a meager yet heartfelt donation to Obama's campaign. May I suggest you give thought to that as well?

Now that's what I call a stimulus (donating to Obama) package - it benefits the economy, democracy and will help end the war! GREAT IDEA. (I'll send check tomorrow. Wish I hadn't cashed it already, I'd just endorse it to Obama Campaign with a special little note!)

Thanks for a reminder that's one more unpleasant thing we must think about. Truly.

All Obama's people and all of us need to do is to spread the data from the very simple comparison of how much more or less Americans will pay for taxes with Obama and McCain. The breakdown is simply to understand, because it gives a number of income ranges. Yet it's not too much information.

You can direct people to the CNN TV analysis here:
http://taxprof.typepad.com/taxprof_blog/2008/06/cnn-the-mccain.html

Or you can look at the chart here:
http://money.cnn.com/2008/06/11/news/economy/candidates_taxproposals_tpc/?postversion=2008061113

WorkinJoe - Fantastic piece! Loved every second of it... Ben Hocking mentioned that a good name for this saddling of debt to our children is the "Birth Tax." GOP = Birth Tax.

Also, "GOP = Bad for Business." We gotta repeat this line over and over again.

What a very stimulating post. I got so stimulated by it that my hand jerked, my finger twitched, and I ended up clicking the Recommend button.

I wish this could be recommended more, because it's a good post and it's dropping off the Cafe Readers Posts page before it's time.

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