It should come as no surprise that Jim Wallis, social activist and self-described Christian Evangelical preacher, is not very happy with Obama’s surrender on the issue of keeping low tax rates for America’s wealthiest citizens. What many people probably don’t realize is that Wallis is not the only Evangelical that disagrees with the socio-economic agenda of the Religious Right, who have long been supporters of trickle down economics. In today’s Huffington Post he attacks the upside down socialism that has been saddling America for the past 25 years while pointing out the fallacy behind the Republican’s strongest argument for extending the lower rates:
…most of the people who will be keeping their tax cuts are not job creators. After all, how many jobs will the Goldman Sachs traders create, or the hedge fund gamblers, or the celebrities who dominate our lives? Almost none. On the contrary, they have been the “job destroyers,” having wrecked this economy and the lives of so many people.
They are already getting richer because of our taxpayer bailout, and now we’re giving them more tax breaks and estate tax bonanzas. There is socialism in America, but it’s only for the rich. Risk has been socialized for some of the very richest people in the country, and then, the “free market” pain is distributed to all the rest.
Our national economic philosophy is clearly now to reward the casino gamblers on Wall Street and to leave the majority of the country standing outside the casino with a tin cup — hoping that the gamblers are at least big tippers. More tax breaks and benefits for the very wealthiest people in America is not only bad economics and bad policy; it is fundamentally immoral. In a letter to the president signed by over 100 religious leaders, we said just that.
So far, they haven’t listened.
Wallis and many other Christians believe that, if this is the Christian Nation that the conservatives are saying it is, then it is the nation’s obligation to look out for those who are not as fortunate as the rest of us. As some as they say in their letter to the President:
Extending the Bush tax cuts for the most fortunate while ending unemployment benefits and cutting back services for the poor does not reflect the values of faithful Americans. For that reason, we urge you to let tax cuts for the most fortunate expire as scheduled at the end of the year.