You Must Be Kidding!

This story from HuffPost beggars belief:

On Tuesday, FedEx Chairman and CEO Fred Smith, an adviser to Sen. John McCain’s presidential campaign, said that the notion that tax hikes on the richest Americans would kill jobs was simply “mythology.”

And on Monday, a gathering of the nation’s top defense executives took a surprising turn when they endorsed tax rate increases on the wealthy and cuts of up to $150 billion to the Pentagon’s budget. Top executives from Northrop Grumman, Pratt & Whitney, TASC and RTI International Metals appeared at the National Press Club at an event organized by the Aerospace Industries Association, the top defense contractor lobbyist.

David Langstaff, CEO of TASC, said that the executives were speaking out because so far leaders of the defense industry were “talking a good game, but are still unwilling to park short-term self-interest.” After the event, he told a defense reporter for Politico that tax rates need to go up.

“In the near term, [income tax rates] need to go up some,” Langstaff said. “This is a fairness issue — there needs to be recognition that we’re not collecting enough revenue. In the last decade we’ve fought two wars without raising taxes. So I think it does need to go up.”

And apparently there are a number of other key members of the wealthiest classes in this country who agree with Fred Smith and David Langstaff.  This is truly quite remarkable. Cut military spending? You must be kidding me!  It can’t be April Fool, but it may be a Christmas miracle! Not so. As expected, the Congress hasn’t given any sign that they will move on the question of continuing the tax breaks for the very wealthy which many believe are the reason we are in such a financial pickle. Led by intransigent Senators like John Thune and Marco Rubio, who would apparently just as soon see us fall head-first off the fiscal cliff, the Republicans in the Senate are adamant that there will be no rise in taxes on the rich — even if they want them.

Now there’s the kind of enlightened, inspired leadership the founders were hoping would rise to the top like cream in a milk bottle. Oh, that’s right, the scum also rises!

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4 thoughts on “You Must Be Kidding!

  1. This is great news Hugh. When serious minded CEOs start speaking out against some of the revenue increase avoidance, it appropriately weakens those arguments. By the way, Former Senator Alan Simpson was on The Daily Show and it was good to hear his voice of reason. Thanks, BTG

    • The pendulum does seem to be swinging back to the middle for the Republicans. I think some of these men worry about the future of their party in the grasp of the Tea Party.

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