A broken system and a lousy deal
The pols were out and about on all the newsies this weekend touting their need for “more revenue”. BO told Boehner “We don’t have a spending problem”.
Boehner added that President Obama continues to maintain that America’s federal deficit is caused not by governmental overspending but by “a health-care problem.” Said Boehner, “They blame all of the fiscal woes on our health-care system.” Boehner told Obama, “Clearly we have a health-care problem, which is about to get worse with Obamacare. But, Mr. President, we have a very serious spending problem.” Obama eventually replied, “I’m getting tired of hearing you say that.”
Of course he didn’t have a problem with signing an executive order to raise government workers pay by 2%. Funny that raise coincides with the 2% increase in payroll taxes. Did any of you get a 2% raise to help you defray that additional hike? Yes, Obama does have a spending problem. 7 million of our hard earned dollars covered his paycayshun with Mooch and co. Pelosi was out and about telling the newsies how we need more revenue to run the country “effectively”. She wasn’t the only one either.
It’s not just Pelosi playing this ridiculous game. Democrat after Democrat claimed that taxes need to be increased, even if that stifles job production, even if no tax increase of any magnitude could come close to repaying our national debt…….
Sen. Dick Durbin (D-IL) joined CNN’s State of the Union to push the same message. “I can tell you that there are still deductions, credits, special treatments under the tax code which ought to be looked at very carefully,” he said. “I think we need to open our minds on tax revenue.”
So, if there are “special treatments” that Durbin thinks needs to be addressed why did Hollyweird get a $400 million tax credit written into the “fiscal cliff” bill? Thank the Dem Senate and Obama who insisted on including those “credits”. Some tax revenue is not as important as other revenue.
The Family and Business Tax Cut Certainty Act of 2012, which passed through the Senate Finance Committee in August, was copied and pasted into the fiscal cliff legislation, yielding a victory for biotech companies, wind-turbine-makers, biodiesel producers, film studios — and their lobbyists. So, if you’re wondering how algae subsidies became part of a must-pass package to avert the dreaded fiscal cliff, credit the Biotechnology Industry Organization’s lobbying last summer.
Some tax lobbyists mostly ignored the August bill “because they thought it would be just a political document,” one K Streeter told me. “They were the ones that got bit in the butt.”…..
A Republican Senate aide familiar with the cliff negotiations tells me the White House wanted permanent extensions of a whole slew of corporate tax credits. When Senate Republicans said no, “the White House insisted that the exact language” of the Baucus bill be included in the fiscal cliff deal. “They were absolutely insistent,” another aide tells me. (The White House did not return requests for comment.)
Don’t you just love the payback and crony capitalism of the left? Now the left (Dems) want more of the money you earn to help defray their ‘gifts’ of corporate welfare. Maybe we’ll see a new documentary from Michael Moore about the theft of American middle class wealth which helps support the offshore accounts of GE and other large corporations but, I doubt it.
How does anyone get camel toe in a dress?
- Durbin: Tax reform should be on table in debt-ceiling talks (thehill.com)
- John Boehner’s Side of the Fiscal Cliff Story (outsidethebeltway.com)
- Calls from tea party for ‘consequences’ of fiscal cliff vote (politicalticker.blogs.cnn.com)
- An Optimistic Take On the “Cliff” Deal (powerlineblog.com)