They've Got Our Backs
As the economy falters and the Obama administration flails about while "Main St" languishes, it's comforting to know a strong opposition party is there to protect the interests of ordinary Americans. Case in point:
- Trade Policy: Republicans in the Senate are up in arms over Obama's failure to move unconditionally and expeditiously on free-trade agreements with South Korea, Columbia and Panama. "At a time when 14 million Americans are looking for work, they actually want to hold off on these known job-creating agreements in exchange for a green light to spend more money. It's astonishing," McConnell said. Because nothing says "Jobs" like free-trade with Columbia, Panama and South Korea.
- Meanwhile, on the campaign trail: Tim Pawlenty introduced his candidacy by offering the wealthy a cut in their tax rates from 35% to 25%. Right now, people making over $10m per year pay about 21% of their income in taxes. So Pawlenty is obviously in sync with the American worker who finds this tax burden his wealthy neighbors offensive and would prefer they spent that money on cheap immigrant labor.
- Bank Profits: On an issue that is so critical that Senate Republicans have joined forces with a number of Democrats, Sen. Corker is working around the clock to stave off the capping of debit card fees at 12 cents per transaction. “We have people on both sides of the aisle that realize this policy is detrimental,” Corker said on the Senate floor. Clearly, when it comes to the health of Main Street, bank profits trump the earnings of retailers, and no one senses this more than Mr. Joe Sixpack.