Monday, August 15, 2011

Tea Party Protecting Wealthy From Debt Fiasco

The tea party machine is protecting the wealthy. My bet is there are a lot of hapless tea partiers, just regular people, who don't realize they're part of the machine:
To control future debt levels, someone has to pay for that fiasco. But people in high-income brackets, working with various allies, have dug a brilliant defense against tax increases in the form of the Tea Party. Backed by 30 percent of the population, this group exploits the broad design of the U.S. Constitution, which gives well-organized minorities an effective veto power over major policy changes. The result is that, instead of letting President George W. Bush’s tax cuts for the rich expire, we are headed for deep spending cuts that disproportionately affect the less-well-off. Read it all at Bloomberg