March
2017
Tuesday, May 06, 2014
Chad Stone, US News & World Report
Submitted by: Editor

The GOP’s Fiscal Hypocrisy

[US News] Republicans are happy to add $300 billion to federal budget deficits over the next decade by making six heavily lobbied corporate tax breaks permanent without offsetting the cost. Meanwhile, House Speaker John Boehner refuses to even consider legislation to renew federal jobless benefits unless “it is paid for and includes something to help create jobs.

Today the House Ways and Means Committee, under firm control of the "we're-determined-to-reduce-the-deficit" Republicans, begins marking up a series of corporate tax breaks – known as “extenders” because they have been extended regularly every year or two for over a decade. But this time the Committee plans to make many of them permanent, at the cost of an estimated $300 billion over the next ten years. And it doesn't plan to pay for them by closing other corporate loopholes or raising corporate tax rates. The giveaway – almost all of which will help the bottom lines of big corporations and pump up their share prices – will just add to the government deficit. Undoubtedly, those who vote for them will later call for deeper cuts in programs for the vulnerable in order to bring “spending” under control. Another example of redistribution upwards ~ Robert Reich.

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Posted by Editor on 05/06/14 at 02:59 PM •  (0) Comments

Tags:  republicans, crooks,

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