The incomparable Jackie (Morganfield) Lambert the great niece of the legendary blues man Muddy Waters has done it again. Jackie offers her powerful commentaries on “LET’S TALK ABOUT IT” every Tuesday night at 9:00 PM (est) on Spreaker.com with me and the Wild & Wonderful Brenda White. You must join us on the fastest growing political talk show on the air where we talk about the political news of the day. Oh, and all the crazy goings-on in our country. It’s a blast!!!
The Republican Party claims that the act of raising taxes is in direct violation of their solemn pledge to Grover Norquist, a man most recently described as “some random person” by speaker of the house John Boehner. They also tell us that raising taxes is a direct violation of their most sacred article of faith.
Their devotion to this belief is the reason that we can’t seem to make any headway in reducing the national debt or passing a modest bill to aid in job creation.
The Republican Party has told us for the last 10+ years that tax cuts are magical. They don’t need any budgetary off-sets because they pay for themselves. And while it would seem to any rational person that the huge tax cuts put in place during the Bush administration aided in exploding the national debt and hurling the nation into a cycle of deficit spending; Republican representatives assure us that that isn’t the case at all. We must have faith.
Given the manner in which the modern Republican Party has vociferously defended this article of faith, why have they failed to extend a payroll tax cut that will save 160 million Americans an average of $1,000 per year? Why does this particular tax-cut need a budgetary off-set so as not to add to the deficit? I mean, aren’t tax cuts magical? Have Republicans lost their faith?
Written by, Jackie Morganfield-Lambert my friend and that’s a Thought Provoking Perspective…
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The incomparable Jackie (Morganfield) Lambert the great niece of the legendary blues man Muddy Waters has once again offered another empowering and insightful gift of wisdom. Jackie offers her powerful commentaries on “LET’S TALK ABOUT IT” every Tuesday night at 9:00 PM (est) on Spreaker.com with me and the Wild & Wonderful Brenda White. You must join us for the fastest growing political talk show on the air talk where we talk about the political news of the day and all the crazy goings-on in our country. It’s a blast!!!
The Middle-Class Tax
(Or, How Financial Markets Affect You)
My favorite coffee shop is a small business locally owned by “Mom & Pop”. Today, while getting my morning pick-me-up, “Pop” and I began to discuss the high cost of living. He told me that the cost of coffee beans had gone up more than 300% this year. Was there a particularly bad harvest in coffee producing nations around the world? No, the spike in prices, he said, was caused primarily by rampant speculation in the commodities market. And, since he could not raise his prices by 300% and expect to keep many customers, he and his lovely wife decided to do their best to absorb the higher costs and hope they can hang on to their business until their costs go down.
Now, the folks who are bidding up the price of coffee beans could care less about the problems of a small, but very popular, business in a little California town. They are just out to make a fast buck. The buck that they are making, however, does not employ a single American. This buck doesn’t build anything or make anything. This buck simply goes into the pocket of some hot-shot, Wall Street financier who will pay less of his income in taxes than you will for going to work every day.
Now, let’s apply the coffee bean principle to the price of gas, groceries, electricity and the like. We certainly can’t expect a large oil company to do what “pop” did, especially since big oil is helping to bid up the price of gasoline.
As the Republicans continue to defend tax cuts for the richest among us, just remember that you, and I, and every working person in this great nation are subsidizing the rich not only through the tax code but through the prices we pay.