Letter to my senators.

[hay rick]

I wrote to my congressman yesterday and to both of my senators today. The e-mail I sent to my senators isn't deathless prose, but I am posting it here because I consider the issue to be of critical importance and I urge others to write to their congressmen and senators ASAP. My letter:
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The Obama-McConnell compromise proposal is catastrophically flawed.

The worst element is the payroll "tax holiday" which is obviously intended as an assault on Social Security. A year from now, restoring normal contributions will be attacked as a tax hike. The $120 billion stimulus effect (actually only $60 billion from current levels when you deduct Making Work Pay which it replaces) is simply not worth it. Any "compromise" which includes this element should be opposed on that basis alone.

Obama's response to the "hostage" situation on middle class tax cuts and unemployment benefit extensions is to offer the kidnappers yet another hostage to strengthen their future ransom demands.

Eliminating the payroll tax holiday entirely still leaves a very bad bill which should be opposed. We can not afford to be handing the extremely rich money they don't need and that we can't afford to spend on them. The real class warfare issue here is the increased share of income that the richest 1% have annexed over the last 30 years or so. In 1971, the top 1% received about 8% of all income, and by 2007, that number had increased to 23%. Meanwhile, since 1999, median household income has gone DOWN. Among other reforms, we need a vastly more progressive tax system as the first step in correcting this obscene and poisonous imbalance.

The top estate tax rates need to be increased to prevent the astonishing concentration of ownership of financial assets from turning our country into a hereditary aristocracy. The floor for collecting such taxes is a relatively minor issue as the real money (and potential for abuse) is highly concentrated at the very top.

Finally, the Build America Bonds are needed now more than ever and their inclusion would considerably improve any compromise.
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Anyone reading this should feel free to copy it in its entirety or to cut and paste any portion which they like. After posting, I will post the first comment as YOUR LETTER HERE with the hope that other people who have written to their congressmen on this issue will make their letters available for reuse.

[hay rick]

1. YOUR LETTER HERE