Tuesday, June 10, 2008

Bad For Business?

The hypocrisy of the plutocrats never ceases to irritate me. Their candidate in chief, Mr. McNavy, says Obama's moderately progressive policy initiatives would be "bad for business". What about their practices being "bad for America"? The oil companies' tax subsidies are a stunning example. While the international oil oligopoly enjoys record prices and windfall profits, they still insist on preferential tax breaks like the depletion allowance--a form of depreciation for a natural resource that is not a capital asset. Democrats failed, 51-43, to get the 60 votes needed to overcome a GOP filibuster and bring a windfall profit tax up for consideration. Democrats also failed to get Republican support for a proposal to extend tax breaks for wind, solar and other alternative energy development, and for the promotion of energy efficiency and conservation. The tax breaks have either expired or are scheduled to end this year. Republican business policies have very little to do with les petites bourgeoisies and much more to do with Wall Street. Argue that assertion with an independent trucker paying over $5 a gallon for diesel fuel.

The plutocrats hardly ever talk about the billions wasted at the Pentagon on weapons systems and war--cost that is essentially social overhead that could be better allocated insuring Americans' health, thereby relieving small business of a major escalating expense. How many nuclear aircraft carriers does this nation realistically need to combat mujaheddin armed with surplus Kalashnikovs? Nor do they mention the uncompensated externalities created by their production activities often resulting in a toxic and degraded environment in which we all have to live. Let the boo birds and ditto heads have their day. The mismanagement of the country under successive Republican administrations is so glaring even the couch potatoes cannot fail to vote their actual economic interests.