Opposition in Congress from both financial services industry and the Republicans make every effort to try to stop the regulatory reform effort, Saying that the legislation is  “an unwarranted intrusion on markets that could hamper the nascent economic recovery.”

Sen. Jim DeMint even claimed that instead of looking at better ways to regulate Wall Street, Obama should really be looking for ways to cut Wall Street’s taxes:

“Instead of looking at more regulation, we could do a lot by fixing our tax system here in this country, to make us globally competitive. The President needs to focus on what really has caused problems and look at what has really made America so prosperous, and I’m afraid that’s not the lens he’s looking through right now.”

Watch him on the video below:

Unbelievable! The  solution of the Republicans to the mess they created for the last 8 years is  to make the same mistake again! Tax cuts, and more tax cuts for the corporate America!

This reminds me of an episode of the Simpsons, where Homer kept on getting electrocuted, saying “Let’s try the blue wire, doh! let’s try the red wire, doh! Let’s try the blue wire again,  doh! Let’s try the red wire again, doh!”

They had their tax cuts/breaks for the last 8 years already and look what happened? I am really disgusted of this. Do they really think the “trickle down theory” could actually work? That if we keep on giving the rich more money, more breaks and more power, they will eventually share some of that money to the poor? Goodness, I am disgusted beyond words.

Unchecked Capitalism will never work! Regulation is necessary! Call it socialism, communism, call it whatever you want, but we already tried deregulation and tax breaks for the rich, it just doesn’t work. When will America ever learn?

On July 9, 1896 at the Democratic National Convention in Chicago, Democrat William Jennings Bryan said in his Cross of Gold Speech the following:

There are those who believe that, if you will only legislate to make the well-to-do prosperous, their prosperity will leak through on those below. The Democratic idea, however, has been that if you legislate to make the masses prosperous, their prosperity will find its way up through every class which rests up on them.

Although what he said benefits the poor/masses, The Republicans still get a lot of support from the masses. The ignorance amazes me.

Tags: demint, republican senator jim demint, tax breaks, tax cuts, tax cuts for the rich