About two in five Americans report household incomes between $35,000 and $100,000 a year. Right now, almost three in five are deeply worried about their financial situation, according to an ABC poll from March.
This should give Democrats an issue, theoretically. But to date, Obama and his party seem incapable of harnessing the growing middle- and working-class unrest.
Part of this is cynicism, and the misplaced belief that middle-class Democratic voters have no place else to go. But a larger part is that the Democratic party long ago abandoned its traditional constituency of labor, minorities, and the poor and have been adrift even since with no discernable platform except for being corporate-friendly.
Someone will harvest that unrest. But it won’t be the Democratic Party
Add to this HR.4213, Sec 413, which screws many small businesses by as much as doubling their taxes, effective with the 2011 tax year. The money will be used to pay for tax breaks for large corporations. I am not making this up.
HR.4213 is almost certain to pass. And aside from AICPA, no one seems interested.
Supporters say it will close loopholes for rich tax cheats– namely doctors and lawyers. But if you read the bill, it applies to seven industries and is so vaguely worded that it would apply not just to accountants but also bookkeepers; not just to doctors but to home nurses and new age health practitioners; not just to lawyers but to paralegals and process servers. Depending on how IRS interprets, it could also apply to personal trainers, computer programmers, masseuses, and handymen. And it opens a door that will not easily be closed, tempting Congress to later apply the law to all types of small businesses.
Small businesses owners will howl when they get their tax bill in early 2012, just in time to vote for another Congress and President. No wonder the GOP is keeping this misguided Dem policy quiet– it’s going to help give them the White House next time around.
If you want to keep the GOP out in 2012, write your Senators now and tell them to drop Sec 413 of HR.4213.