Dems Drop Millionaire Surtax Proposal

Yes, Dems and GOPers averted a government shutdown a mere 24 hours before it would have happened. So… what did Democrats sacrifice this time? Here’s Brian Beutler of TPM:

Democrats have officially dropped their push for a small surtax on millionaires as one means of offsetting the cost of the bill. And it’s unclear what they got in return, aside from a pledge from Republicans not to jam Democrats with their partisan payroll tax bill.

With the millionaire surtax gone, most of the cost of the bill will likely be paid for with budget cuts agreed to in Super Committee negotiations, which ultimately failed. To make up the difference, Democrats are [not] insisting that the GOP abandon other, conservative payfors, such as greater means-testing in Medicare. Instead, they’re pushing Republicans to accept ideas like ending a tax benefit for corporate jet owners, and counting war savings toward the cost of the bill.

Oh… that. So Dems only punted one more opportunity to get something in exchange for allowing the wealthy to avoid their fair share of taxes. In exchange for that benefit, Dems got… nothing. More and more, I swear, Democrats are functionally no different from Republicans. And the two of them together are the consummate plutocracy and/or corporatocracy.

Why do I bother voting? Oh, probably, it’s because old habits are hard to break. Sigh!

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Comments

  • Madeleine Begun Kane  On Monday December 19, 2011 at 3:13 am

    Following the political news seems more and more an act of masochism.

    • Steve  On Monday December 19, 2011 at 9:10 am

      Mad, many day’s it’s very discouraging. But hang in there, ’cause I’m sure things will get… um… er… I’m too honest: things will get worse.

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