What's the GOP Tea Party Brewing?

Our country is being battered by a take-over attempt, the battle-plan drawn up by the religious right and corporations. Sure, they call themselves "patriots." But, that's just to keep the unwary faithful from catching on. Winning would result in a corporate-theocracy, based on their narrow interpretation, not just of the Constitution, but of the Bible. The vehicles are the tattered remnants of the GOP and the flamboyant Tea Party led by the looniest of tunes, no need to name them.

The once-Grand Old Party is being dragged behind the stampeding Tea-herd, yoked to them as a result of their obstructionist, personal-attack history. Hopefully, these false patriots have set themselves up to become history. It's just a matter of time until voters realize the "shining city on a hill" is Dubai.

The GOP/Tea Bag consortium proclaims they want smaller government, more liberty, but almost every action they take moves the country in the opposite direction.

It was the Republican administration who misled us into the moral and fiscal swamp of the Iraq war and nation building. It was the Republican administration who put into place the unfunded budget-busting drug program for senior citizens.... a giant boondoggle for the drug and insurance companies. It was the Republican administration that assembled the Homeland Security Administration behemoth, the biggest single expansion of government, ever.

It was the Republican administration who put us on the path to unsustainable debt.... and a good argument can be made that it was done deliberately in order to later say we can no longer afford Social Security and Medicare. For them, corporate welfare is fine, individual help is unpalatable.

Smaller government, fiscal restraint. Read the tea leaves, that's not in the brew.

As for freedom and liberty, GOP liberty is only for some. All are equal except women, gays, and non-believers, next up to receive the GOP backhand. Corporations have been awarded personhood by the ability to pour money into our electoral process thanks to our no longer Supreme-judgment court. Sad to say, the highest court in our land has become just another tool in the GOP/Tea Bag toolbox. Left unfettered, is the United Corporate States of America far off?

As for the promise to create jobs, forget that. What the GOP/Tea Baggers crave is social reform, made in their religious-moral-code image. In their perfect world, women would be forced into burkahood as control over their reproductive rights fall under government control. Gays would be denied civil rights while corporations would be granted more rights... to pollute, to manipulate financial markets, and to further deregulate our food products. And clean energy, less dependence on oil. Forget it.

But there will be a reckoning..... 2012 is coming. We can reject this toxic brew. What happens to our country is up to us.

The Meaning of "Refundable" Is...

Not all tax credit "refundables" are created equal.

Yesterday's Wall Street Journal took after Barack Obama's tax plan as a handout, regardless of taxes paid, to lower-income taxpayers. They say in "Obama's 95% Illusion"...

"Here's the political catch. All but the clean car credit would be 'refundable,' which is Washington-speak for the fact that you can receive these checks even if you have no income-tax liability. In other words, they are an income transfer -- a federal check -- from taxpayers to nontaxpayers. Once upon a time we called this 'welfare' ..."

Well now, wouldn't it be a crying shame if it were "welfare" in view of the fact that investment banks, mortgage companies and banks have just been granted $1 trillion+ in corporate welfare, on top of the already obscene corporate tax breaks for everything imaginable including shipping jobs offshore.

However, this WSJ analysis is very misleading. Obama's plan isn't welfare. Here's why, as shown in one of Obama "refundable" plans taken from his official website:

"A $1,000 "Making Work Pay" Tax Credit. For 95 percent of workers and their families-150 million workers overall-the "Making Work Pay" credit will provide a refundable tax cut of $500 for workers or $1,000 for working couples. This credit will benefit over 15 million self employed workers and for 10 million low-income Americans, will completely eliminate their federal income taxes."

As you can see, it doesn't say anything about giving taxpayers back more than they paid in taxes.... "will completely eliminate their federal income taxes".... it is meant to be a "tax cut" refundable directly against the amount of taxes to be paid.

Many times a "tax credit" is a formula that doesn't go directly to the bottom line but, for example, is applied to earned income subject to tax. What Obama means by "refundable" in this context is that it isn't a formula tax credit, but a credit to be applied directly to help "eliminate federal income taxes."

Now, let's take an example of John McCain's "refundable" tax credit from his official website....

"John McCain Will Reform The Tax Code To Offer More Choices Beyond Employer-Based Health Insurance Coverage. While still having the option of employer-based coverage, every family will receive a direct refundable tax credit - effectively cash - of $2,500 for individuals and $5,000 for families to offset the cost of insurance. Families will be able to choose the insurance provider that suits them best and the money would be sent directly to the insurance provider. Those obtaining innovative insurance that costs less than the credit can deposit the remainder in expanded Health Savings Accounts."

McCain's tax credit is "refundable" yet goes directly to the insurer. As the wording says.... "effectively cash".... or cash out in the ether somewhere, with the credit going directly to insurance coffers.

And, image finding "innovative" insurance for a family that costs less than $5000 a year. Even if you could, the difference still isn't given to the insured, but is deposited in accounts. McCain's "direct refundable tax credit" never directly touches taxpayers hands.

On top of the never-to-be-directly-seen McCain tax credit boondoggle for insurance companies, McCain's proposal calls for employer insurance benefits to be taxed as income.

So, it's McCain who has the "Washington-speak" direct refundable tax credit, and Obama who is offering the actual tax cut... as a credit against taxes due.

It all depends on what the meaning of "refundable" is.

November 4.

Bush's $700 BILLION Bailout

Bush pledges to work with Congress to OK rescue. (WaPo)

Now, when The Decider's administration has made a gigantic mess of the economy, George Bush wants to sheath his veto pen and play nice with Congress, saying, "We're going to work with Congress to get a bill done quickly."

And Congress has little choice but to cooperate.... the economy is on the precipice.

The Bush administration's proposal asks Congress to allow the government to buy $700 BILLION in bad mortgages as part of the largest financial bailout since the Great Depression.... but, it doesn't specify what the government would get in return from financial companies.

Corporate-welfare in its purest from.

In explaining this move, The Decider mused that "People are beginning to doubt our system, people were losing confidence and I understand it's important to have confidence in our financial system."

Do you think?

But, it's not our "financial system" that undermined confidence and saddled the country with crippling debt, it's the financial philosophy Bush has stubbornly pursued for eight years.... cut taxes for the rich and corporations, hit the middle class with lower wages, less benefits and send their jobs overseas, spend wildly on a misbegotten war, deregulate everything in sight, let lobbyists and congressional far-right-wingers like McCain's Gramm write your legislation, and trust something good will "trickle down."

Not!

This bailout is just the latest of the mind-boggling failures of The Decider's agonizing tenure at the helm. And, John McCain promises more of the same.

November.