Friday, January 13, 2006

Super Rich Buy Superyachts and Supermodels Thanks To Bush Tax Cuts

By Elaine Meinel Supkis

The disasterous Bush tax cuts which he wants to extend eternally are increasing the deficit fatally while the very rich buy superyachts, supermodels and supereverything. They also buy politicians, too. This must stop.

From the NYT:
WHETHER it's providing a helicopter pad or installing jade-inlaid marble in the master bedroom, William S. Smith III has grown accustomed to satisfying every request from his custom-yacht customers - except when it comes to finding places where they can park their outsized boats.

James Edward Bates for The New York Times

Many megayachts have grown so big - sometimes as long as a football field - that their very size rules out docking at most marinas, which don't have large enough slips to accommodate them. To combat the crunch, Mr. Smith, vice president of Trinity Yachts in Gulfport, Miss., one of the top custom yacht builders in the world, has begun to design vessels based strictly on where the owners plan to take them.
Big cars, big houses, big yachts. Yup. And for America, big debts.

From the same issue of the NYT:
The White House acknowledged on Thursday that the budget deficit would climb back above $400 billion this year, erasing the brief improvement last year and complicating President Bush's vow to cut the deficit in half by 2009.

Joel Kaplan, the White House deputy budget director, predicted that the government's shortfall would climb to more than $400 billion in 2006 from $319 billion in 2005, largely because of relief efforts tied to Hurricane Katrina.
What relief for Katrina? Seems that river of money has dwindled to a tiny rivulet, hasn't it? The tax cuts have produced what?

Wall to wall debts, an ocean of red ink, a deterioration of the American infrastructure, all this so the rich can float their boats.

The reckless, wanton waste of collective resources on junk like mega-yachts and carports with crystal chandeliers is why, when the bills come due, we will see some really ugly stuff happen here. Far from spending money on capitalist ventures that bring a better life to the working classes, the new money boys spend it all on toys. This is why business is actually declining, so far as capitalist industrialization is concerned. We moved our factories to China which is now suffering from vast amounts of pollution and environmental degradation. The profits of moving business to China where the workers have few rights, no freedom of speech or assembly and a government willing to supress them coupled with the American government's refusal to tax these profits means the very rich get to buy all the junk the New York Times advertises.

The article about the yachts is full of wonder and some envy but it isn't condemned, it isn't connected to the red ink article. They run seperately without comment.

You will not see raging editorials in our media yelling for taxes on the rich to be restored! Yet the entire mess is due entirely to the corrupting influence of the very rich via lobbyists and a vote counting system that is run by right wingers who jigger the vote totals.

Here is a typical GOP example, Gov. Romney of Mass:From
He also said he would continue to travel occasionally on corporate aircraft, as he did in December when he flew to an RGA meeting in California on a Gulfstream jet owned by Pfizer Inc., the New York-based pharmaceutical firm. Massachusetts is currently debating a health care overhaul, although Romney said Pfizer is not a party to the deliberations.

"I'm not going to propose to you a new series of laws," he said. "But I can say the best efforts in campaign finance reform to date seem to have driven money into secret corners, and it's had unintended consequences."

Romney said groups like the RGA and its equivalent, the Democratic Governors Association, are designed to be funded by corporations. He also noted the aircraft travel is reported to the IRS, as are cash and other in-kind donations.

"It's not a form of corporate largesse," he said. "It's a form of corporate contribution."
Haha, isn't he a laugh? How about "It's a form of bribery"?

This was all on the heels of the GOP trying to pretend to be not so corrupt:
Days after calling on his party to exhibit higher ethical standards, Gov. Mitt Romney said the Republican Governors Association would divest $500,000 in contributions it received from a donor entwined in the investigation of Washington lobbyist Jack Abramoff.
The Abramoff scandal is really the above the water line iceberg that is ripping the guts out of the USS Titanic. The subterranean part is very much bigger than the illegal, immoral little swindle operation run by a criminal. The fact is, the GOP's "fundraising" skill are entirely simply them working for people who bribe them into destroying all public financing, trade and civil services, corrupting them fatally so the very rich can buy superyachts and supermodels.

This is why they are all, every one of them, sitting here today, on the sidelines, rubbing their fat hands with glee as America slides ever swifter down the slope to bankruptcy.
Previous Similar Articles
NYT Mentions How Top Executives Plot and Conspire to Kill Pensions
The Alternate Minimum Tax Is DC's ATM Machine
Abramoff Sold Access To Bush To Foreign Countries
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