I guess this SOTU stuff must have more impact than I thought, because why would they be so upset about proposals that can’t happen without Congress?
The White House previewed its tax messaging coming in the State of the Union on Tuesday — heavy on tax breaks for children and middle-class families, paid for by steeper taxes on investments, cutting a loophole benefiting the uber-wealthy, and a new fee on big banks.
Republicans did not see it as an olive branch.
“Slapping American small businesses, savers and investors with more tax hikes only negates the benefits of the tax policies that have been successful in helping to expand the economy, promote savings, and create jobs,” Sen. Orrin Hatch (R-Utah), the new chairman of the Senate Finance Committee, said in a statement.
Absent in the highlights provided by White House officials is one big area the parties agree on — a cut in the corporate tax rate.President Barack Obama could still announce a detailed tax reform proposal, plans for negotiations with Congress and a deadline to get it done. But tax watchers are prepared to be disappointed.
Our tax policies have expanded the economy and put 90% of that expansion, known as increased worker productivity, directly into the pockets of the top 10%, promoted savings for the top 10% (just look at the stock market) and created jobs (millions of low paying jobs).
Orin Hatch should get out more often and hang around with a few of us for awhile. He’s been in the rarified air of the 1% for much too long to appreciate the way the other 99% of us are forced to live our lives.
Republicans are upset? Good! Fuck them.