Friday, December 17, 2010

December 17th Banana Republic Day

The continuation of the Bush era tax cuts for the rich is proof that the United States has become a Banana Republic, run by and for a self-serving plutocracy.

The term Banana Republic was applied both by Paul Krugman and Bernie Sanders to describe Obama's tax cut deal with Republican senators.

Make no mistake about it, it has been proven over and over that tax cuts for the extreme wealthy do not stimulate an economy.  Instead, they discourage long term targeted investment, encouraging destructive short term speculations instead, creating the bubble economies that have persisted since the Reagan tax cuts of 1981.

If there is to be any hope for the United States, we must make this our milestone, as Texas settlers did with their defeat The Alamo.

Remember December 17th as Banana Republic day.

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