Liberal Democrat

Liberal Democrat
Father of American Liberalism

Monday, March 18, 2013

The Nation: Economics: George Zornick: A Truly Progressive Budget Vision: The Back to Work Budget Plan

A Truly Progressive Budget Vision | The Nation

I love the idea of infrastructure investment as both part of an economic recovery and jobs plan but also a deficit reduction plan. If its paid for because of the amount of people it would put back to work. Which is why I'm in favor of a National Infrastructure Bank, which was one of the last major pieces of legislation. That Senator John Kerry wrote before leaving Congress to become Secretary of State. Which was coauthored by then Senator Kay Baily Hutchison in the 112th Congress. This is a Bi Partisan proposal and is something that even Congressional Republicans as far to the right as Senator Tom Coburn and. Senator Jim Inhoff, as well as I'm sure some House Republicans like Speaker John Boehner support as well. But you can't invest 500B-1T$ in infrastructure or anything else in this country without paying for it without. Having long term if not short term damaging effects to the economy with our national debt where it is. Which is something Progressives even though they seem to like high taxes and believe in them, they seem to like high debt and deficits as well. But what happens as a result, the economy gets hit in two places at once.

I'll give the Congressional Progressive Caucus credit, they have moderated a little from 2011. Two years ago their budget plan called for eliminating all of the Bush tax cuts including those for the middle class. And using all of that money on infrastructure and creating new Federal Government New Deal era programs. But even some of their members now see how bad of an idea it is to pass middle class tax hikes in a struggling economy. So now what they've done instead is put all of that new tax burden on wealthy individuals and business's. Leaving our high corporate tax at 35% in place and closing a lot of corporate tax loopholes. So short term that may sound fiscally responsible because you are attempting to pay for new government spending. But are the results instead, business's move that money out of the country to avoid paying those high taxes.

The so called Back To Work Budget Plan from the CPC is as dead as disco or high water pants. Why because very few people in Congress believe that government should have all of that power to when it. Comes to job creation that what we should be doing instead is freeing up capitol in the private sector. So they have work to do and have a need to hire new employees which is the best part of. Infrastructure investment, government sets priorities and then rewards contracts to private companies to do the work. Rather then government or the private sector having most of the power and why its the ultimate private/public partnership.