Sham Theater: Democrats To Push Redistribution Plan To “Combat Inequality”

by William Teach | January 12, 2015 8:56 am

Now that Democrats have been reduced to a minority party in the Senate, having lost the House in the 2010 elections, they’ve decided they are going to push a redistributive taxation plan, with no chance of success

Democrats, in a stark shift in messaging, to make big tax-break pitch for middle class[1]

Senior Democrats, dissatisfied with the party’s tepid prescriptions for combating income inequality, are drafting an “action plan” that calls for a massive transfer of wealth from the super-rich and Wall Street traders to the heart of the middle class.

The centerpiece of the proposal, set to be unveiled Monday by Rep. Chris Van Hollen (D-Md.), is a “paycheck bonus credit” that would shave $2,000 a year off the tax bills of couples earning less than $200,000. Other provisions would nearly triple the tax credit for child care and reward people who save at least $500 a year.

The windfall — about $1.2 trillion over a decade — would come directly from the pockets of Wall Street “high rollers” through a new fee on financial transactions, and from the top 1 percent of earners, who would lose billions of dollars in lucrative tax breaks.

There is zero chance of this getting passed in either the House or Senate. It will probably not even make it out of committee. This is a cute little stunt designed to dupe people into thinking that Democrats care.

The plan also would use the tax code to prod employers to boost wages, which have been stagnant for four decades despite gains in productivity and profits.

I wonder if they would take responsibility when workers are shifted to part time or are replaced with technology?

With Republicans in control on Capitol Hill, Democrats have little hope of pushing the plan through Congress. Instead, they are looking to craft an alternative to GOP plans to cut tax rates for the top earners, and to shape a new Democratic agenda for 2016 that offers voters the promise of genuine change.

In other words, this is a game to Democrats, who could have attempted this when they had full control of Congress from 2007 through 2010, as well as pushing it during the past 2 years when they had full control of the Senate.

“We need a pro-growth economic agenda,” said Rep. Richard E. Neal (Mass.), a senior Democrat on the influential House Ways and Means Committee. “We need to embrace the traditional Democratic positions of optimism and aspiration.”

In Liberal World, pro-growth means taking from some and giving to others, rather than creating the atmosphere where people can succeed. All we need to do is look to Detroit and other Liberal cities to see how these policies work. This is class warfare from a party that receives vast amounts of funding from 1%ers and is mostly run by 1%ers.

Crossed at Pirate’s Cove[2]. Follow me on Twitter @WilliamTeach[3].

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