Krugman at 4 a.m.

September 20, 2010

Famous, mega-rich person, Marie Antoinette, has been credited, though not so in reality, with the ugly phrase, “Let them eat cake” when observing the starving poor — a similar asshole stance from GOP wag, US Sen. Mitch McConnell: “…that no one in this country will pay higher income taxes next year than they are right now.”

(Illustration found here).

Of course, mush-mouth Mitch was yakking about the 1 percent at the top of the US income braket — the rich.
Paul Krugman this morning takes a whack at the self-pity wailings of the rich if George Jr.’s tax cuts are allowed to expire at the end of this year — it’s just so pathic.
The economic bottom dwellers aren’t the ones blubbering:

Yet if you want to find real political rage — the kind of rage that makes people compare President Obama to Hitler, or accuse him of treason — you won’t find it among these suffering Americans.
You’ll find it instead among the very privileged, people who don’t have to worry about losing their jobs, their homes, or their health insurance, but who are outraged, outraged, at the thought of paying modestly higher taxes.

At the same time, self-pity among the privileged has become acceptable, even fashionable.
Tax-cut advocates used to pretend that they were mainly concerned about helping typical American families. Even tax breaks for the rich were justified in terms of trickle-down economics, the claim that lower taxes at the top would make the economy stronger for everyone.
These days, however, tax-cutters are hardly even trying to make the trickle-down case.
Yes, Republicans are pushing the line that raising taxes at the top would hurt small businesses, but their hearts don’t really seem in it.
Instead, it has become common to hear vehement denials that people making $400,000 or $500,000 a year are rich.
I mean, look at the expenses of people in that income class — the property taxes they have to pay on their expensive houses, the cost of sending their kids to elite private schools, and so on.
Why, they can barely make ends meet.

And in a similar vein from Robert Reich:

The rich spend a far smaller portion of their money than anyone else because, hey, they’re rich.
That means continuing the Bush tax cut for them wouldn’t stimulate much demand or create many jobs.
But it would blow a giant hole in the budget — $36 billion next year, $700 billion over ten years.
Millionaire households would get a windfall of $31 billion next year alone.
And the Republican charge that restoring the Clinton tax rates for the rich would hurt the economy — because it would reduce the “incentives” of the rich (including the richest small business owners) to create jobs — is ludicrous.

But dude, cake is expensive.

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