The Congressional Budget Office, CBO, is a non-partisan oversight committee whose purpose is to determine how much legislation would increase or decrease the federal budget over a ten-year period. The present Director of the CBO was appointed by Democrats in 2009; his tenure ends in January. Republicans, who will control both houses in January, want to replace him with someone who is more friendly towards Republican economic goals. They want to make it easier for big business to increase their profits at the expense of the working class. Changes to many currently proposed bills, and removing some which already exist, could economically destroy the American way of life for tens of millions of Americans.
The Republican plan is simple; reinstate ‘trickle-down economics,’ and give larger tax breaks to the wealthy. In other words the same old thing since Reagan declared war on the working class in the 1980’s.
Greed is the instrument that is slowly destroying our economy which is based on capitalism. Republicans only plan for the economic growth of the United States is free trade; a synonym for capitalism. The ideas which support a free market society are simple; privately owned business is allowed unrestricted production resulting in profit. In turn consumers benefit as well from a successful business. They are able to purchase the products of these successful business ventures. Greed is removing the working class’s ability to purchase goods and services beyond necessities. Capitalism is in demise, and its death will be the result of unwise legislation passed by a Republican Congress.
When Eric Cantor was the House Majority Leader, he, with the aid of Speaker of the House John Boehner, claimed to have passed 30 jobs bills. The problem is that not a single one of them created any jobs. Republicans continue to allege that corporations are ‘job creators,’ when the opposite is the truth. Employment reaches higher levels when employers are forced to pay higher taxes, and adequately compensate their workers.
The American voter is complicit in destroying his and her own financial security. In the midterm elections they blamed Democrats and the President for an economic downturn; they were totally misinformed. Republican policies and refusal to pass legislation benefitting the working class are the causes for a diminishing standard of living for the working class.
And who do Republicans want to be the new Director of the CBO? His name is Grover Norquist. He is the president of the misnamed ‘Americans for Tax Reform.’ The name sounds like it might be a group whose ideals would create a fair and equitable tax structure for all Americans. In reality it is a lobbying firm owned by big business. He and his group have made multiple efforts to lower the tax rate of the extremely wealthy. He has forced the loyalty of many Republican members of the House and Senate to be given to him instead of to the people of the United States of America. They have pledged to vote against any and all legislation which would raise taxes.
The entire tax code must be thrown in the garbage. It doesn’t work. A single idea, whose time was years ago, is the answer, and would be fair for everyone. A national sales tax is the logical answer. It would be a ‘pay as you go’ tax structure, with no deductions, and no exceptions.
When capitalism succumbs, it will be with a whimper. Our leaders have no plan to replace it; and that’s no surprise.
By James Turnage