John Nichols: Avoid sequester cuts by taxing Wall Street

[hue]

http://host.madison.com/ct/news/opinion/column/john_nichols/john-nichols-avoid-sequester-cuts-by-taxing-wall-street/article_15e29e24-7fc8-11e2-a234-001a4bcf887a.html

Sequestration threatens to cut vital public services and undermines the economy in order to achieve budget priorities that benefit Wall Street while damaging Main Street.

And, of course, sequestration asks nothing of Wall Street.

That’s austerity, just as it has been practiced in Europe.

That’s austerity, just as it has failed in Europe.

Worse yet, the Simpson-Bowles “Fix the Debt” campaign seeks more austerity. They’re already trying to exploit the sequester mess that will play out this week to achieve the ultimate goals of Wall Street: the acceptance of the “principle” that the only way to balance budgets is by undermining Social Security, Medicare and Medicaid – with schemes like “chained CPI” cuts in cost-of-living increases for seniors, and an upping of the eligibility age for programs to qualify for earned benefits.

This is a critical moment for the proponents of austerity. They’ve lost at the polls, but they want to win in a moment of supposed crisis: using a new variation on the “disaster capitalism” strategies outlined in Naomi Klein’s "Shock Doctrine."...

[AndyA]

1. Avoid sequester cuts by taxing Wall Street

- Remove subsidies for oil companies

- Eliminate loopholes that allow corporations to pay zero taxes

- Cut back on defense budget which is full of waste

- Stop trying to defend the Defense of Marriage Act

- End tax loopholes for multi-millionaires

The list goes on and on, but the GOP doesn't want to touch their sacred cows, they want needy and middle class Americans to suffer more, because after all they're the ones responsible for this mess we're in. Damn those people who want to be treated fairly! ( )

[freshwest]

2. The dividing line couldn't be clearer. (Dial-up warning, large pic)