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Category Archives: Federal Budget

Sanders Calls for Shared Sacrifice

Senator Bernie Sanders (I-VT) has alleged while hard working Americans fill out their income tax returns this tax season, General Electric and other giant profitable corporations are avoiding U.S. taxes altogether, and with Congress returning to Capitol Hill this week to continue its seemingly never ending debate on spending cuts, he said the wealthiest Americans and most profitable corporations must do their share to help bring down our record-breaking deficit.

Sanders has renewed his call for shared sacrifice after it was reported that General Electric and other major corporations paid no U.S. taxes after posting huge profits. Sanders said it is grossly unfair for congressional Republicans to propose major cuts to Head Start, Pell Grants, the Social Security Administration, nutrition grants for pregnant low-income women and the Environmental Protection Agency while ignoring the reality that some of the most profitable corporations pay nothing or almost nothing in federal income taxes. And Senator Sanders is absolutely right. It’s time for the GOTP to stop pandering to its far right frantic fringe and start balancing the books by balancing the load.

Sanders has compiled a list of some of some of the 10 worst corporate income tax avoiders.

1)  Exxon Mobil made $19 billion in profits in 2009.  Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.

2)  Bank of America received a $1.9 billion tax refund from the IRS last year, although it made $4.4 billion in profits and received a bailout from the Federal Reserve and the Treasury Department of nearly $1 trillion.

3)   Over the past five years, while General Electric made $26 billion in profits in the United States, it received a $4.1 billion refund from the IRS.

4)   Chevron received a $19 million refund from the IRS last year after it made $10 billion in profits in 2009.

5)   Boeing, which received a $30 billion contract from the Pentagon to build 179 airborne tankers, got a $124 million refund from the IRS last year.

6)   Valero Energy, the 25th largest company in America with $68 billion in sales last year received a $157 million tax refund check from the IRS and, over the past three years, it received a $134 million tax break from the oil and gas manufacturing tax deduction.

7)   Goldman Sachs in 2008 only paid 1.1 percent of its income in taxes even though it earned a profit of $2.3 billion and received an almost $800 billion from the Federal Reserve and U.S. Treasury Department.

8)   Citigroup last year made more than $4 billion in profits but paid no federal income taxes. It received a $2.5 trillion bailout from the Federal Reserve and U.S. Treasury.

9)   ConocoPhillips, the fifth largest oil company in the United States, made $16 billion in profits from 2007 through 2009, but received $451 million in tax breaks through the oil and gas manufacturing deduction.

10)  Over the past five years, Carnival Cruise Lines made more than $11 billion in profits, but its federal income tax rate during those years was just 1.1 percent.

Sanders has called for closing corporate tax loopholes and eliminating tax breaks for oil and gas companies. He also introduced legislation to impose a 5.4 percent surtax on millionaires that would yield up to $50 billion a year. The senator has said that spending cuts must be paired with new revenue so the federal budget is not balanced solely on the backs of working families.

“We have a deficit problem. It has to be addressed,” Sanders said, “but it cannot be addressed on the backs of the sick, the elderly, the poor, young people, the most vulnerable in this country.  The wealthiest people and the largest corporations in this country have got to contribute. We’ve got to talk about shared sacrifice.”

Amen.

 
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Posted by on March 30, 2011 in Federal Budget

 

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Top 10 Worst Things about the Republican Budget?

The GOTP is not, repeat NOT, a friend to students, teachers, woman, the poor, or most especially to our country’s veterans … cutting in half the vouchers being given to vets to prevent homelessness. Once again they send soldiers, marines, sailors and airmen to fight, and then stab them in the back! This is a disgrace! But everyone who voted for the GOTP in November, you go ahead and continue to sleep warm and comfy in your beds while vets are under bridges, they didn’t do anything for you.


This is the hypocrisy of the right, plain, simple and out in the open. Our nation spends $2 BILLION DOLLARS per week in Iraq and Afghanistan! $2 BILLION DOLLARS! They – the GOTP – continue to cater to the upper 2% of the population providing them with tax cuts which would have provided billions of dollars to the nation’s coffers, all while cutting education programs, gutting NPR and Public television, taking away food and medical help from millions of woman and children – including prenatal care – and screwing our vets!

Notice, however, there are no defense cuts. We don’t want to upset the military industrial complex, we’ll pay them their billions and then screw the troops for serving their country. This is a disgrace!

NEVER again will I vote for a Republican! NEVER AGAIN! Not if this is what the party of Reagan has become.

The Republican budget would:

1. Destroy 700,000 jobs, according to an independent economic analysis.

So, this is what the GOTP meant about jobs bills, and taking care of jobs in America …

2. Zero out federal funding for National Public Radio and public television.

Yeah, here’s the GOTPs version of the fairness doctrine. They – the GOTP – only want the country hearing Limbaugh, Hannity and Beck. No more programming questioning what they’re doing …

3. Cut $1.3 billion from community health centers–which will deprive more than three million low-income people of health care over the next few months.

I can hear Ebenezer whispering in Boehner’s ear now, “If they had rather die, they had better do it, and decrease the surplus population!” This is the GOTP health care plan for America, only the strong and rich will survive in their new America. Can’t afford health care? Too bad!

4. Cut nearly a billion dollars in food and health care assistance to pregnant women, new moms, and children.

As Reagan – the GOTP hero of heroes would no doubt intone – All those welfare queens in their caddies suckling from the nation’s breasts. You’re done! Go get jobs! Go beg! But we’re not helping you anymore!

I’m confused? Isn’t this the party that prides itself on America being a “Christian” nation? Wasn’t there something about taking care of the poor, and how it would easier to put a camel through the eye of a needle than for a rich man to enter into the Kingdom of Heaven?

5. Kick more than 200,000 children out of pre-school by cutting funds for Head Start.

The GOTP is tired of taking care of your snot nosed kids. If you can’t afford pre-school then too bad! Your kids aren’t worth it! You’re poor! Send your kids out to beg, like in other countries!

6. Force states to fire 65,000 teachers and aides, dramatically increasing class sizes, thanks to education cuts.

The GOTP hates teachers, and it hates public education. The Governor of Wisconsin, Limbaugh, Hannity et al, have been screaming about the lousy teachers getting rich doing nothing all day! No more!

7. Cut some or all financial aid for 9.4 million low- and middle-income college students.

According to Boehner and friends, if you can’t afford college you shouldn’t be there! Why should the rest of us pay for your college education! Go dig ditches, or beg or something. Who are you to think you could better yourself?

8. Slash $1.6 billion from the National Institutes of Health, a cut that experts say would “send shockwaves” through cancer research, likely result in cuts to Alzheimer’s and Parkinson’s research, and cause job losses.

Once again Scrooge is speaking from the pages of literature through the GOTP, “If they’d rather die …” If you’re not wealthy enough to afford health care in Boehner’s America then you should just die. It’s a very simple health care plan. Those who can afford it survive. Those who cannot afford it? Too bad.

9. End the only federal family planning program, including cutting all federal funding that goes to Planned Parenthood to support cancer screenings and other woman’s health care.

The GOTP doesn’t care about poor woman, just about their own wives, mistresses and daughters. If you die giving birth to your welfare child, who cares? Not Boehner and company.

10. Send 10,000 low-income veterans into homelessness by cutting in half the number of veterans who get housing vouchers this year.

Boehner – who washed out of Navy basic training – could care less. Typical GOTP attitude. Claim to love America, drive around with your “support the soldiers” magnetic yellow ribbon on your car, and then knife them in the back once they’ve fought, and bled for you.

This is a disgrace …

 
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Posted by on March 7, 2011 in Federal Budget

 

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GOP Controlled House passes sweeping cuts to domestic programs while protecting Big Business?

In a classic move from a Frank Capra film, the Republican-controlled House – led by Claude Rains type characters – passed sweeping legislation Saturday cutting $61 billion from hundreds of federal programs, while at the same time sheltering coal companies, oil refiners and farmers from new government regulations.

The party line vote of 235-189 passes the bill on to the Democratic-controlled Senate where it will in all likelihood meet its well deserved demise; and if by some odd chance it survives the Democratic controlled Senate, it is all but guaranteed to be vetoed by the President.

This week has given the American people one more bill in a series of fluff and nonsense legislation by the GOP House, and is seen by many as another remarkable victory for 87-member uber-conservative class of freshmen Tea Party-Republican hybrids, who were elected last fall, in the mid-term congressional election by the largely unthinking, uneducated and unwashed masses of the Tea Party movement. The new members of Congress promised to attack the deficit and reduce the reach of government.

One of the new kids on the block, Tim Huelskamp of Kansas trumpeted, “The American people have spoken. They demand that Washington stop its out-of-control spending now, not some time in the future.”

Problem is Congressman; the American people spoke no such thing. 80 + local constituencies fed on a daily menu of vitriolic right-wing fear radio and FOX PAC programming elected you, not “the American people”. The one thing you and all the GOP House has forgotten is that all politics are local, and nowhere is that more true than in the House of Representatives.

So, what did they pass, this group of American loving legislators? Well, the $1.2 trillion bill covers every Cabinet agency through the end of the current fiscal year, or through 30 Sep 11, imposing (if it passes the Senate, and the President) severe spending cuts aimed at domestic programs and foreign aid, including aid for schools, nutrition programs, environmental protection, and heating and housing subsidies for the poor. Did you catch all that? The GOP is cutting programs for schools, nutrition, environmental protection, and heating and housing subsidies for the poor. Who does this affect mostly? Minorities; or everyone who isn’t an angry white, right-wing, Christian, gun-toting, Tea Party drinking voter; you know the types, the ones who “spontaneously” show up at “rallies” carrying signs decrying how they’re taxed too much, and how the President is a Communist/Nazi thug. Yeah, all those well read, deep thinking types; Glenn Beck’s masses.

On the brighter side, the bill is doomed when it arrives in the Democratic-controlled Senate, and was doomed even before TPGOP (Tea Party Grand Old Party) amendments adopted later in the week pushed it further and further away from the main stream shores and out onto the right-wing rocks and shoals of health care and environmental policy. Senate Democrats have promised higher spending levels and are more than prepared to defend the recent health care law, environmental policies and new efforts to overhaul regulation of the financial services industry.

But wait, the TPGOP isn’t finished with simply hurting the poor and minorities, it wants to provide shielding for greenhouse-gas polluters and privately owned colleges from federal regulators, block a plan to clean up the Chesapeake Bay, and bar the government from shutting down mountaintop mines it believes will cause too much water pollution, siding with big business over environmental activists and federal regulators. Why would anyone in their right minds do this? That’s very simple, “money”.

Rep. Edward Markey, D-Mass, summed it up very well when he said, “This is like a Cliff Notes summary of every issue that the Republicans, the Chamber of Commerce, and the (free market) CATO Institute have pushed for 30 years.”

But what about the jobs the TPGOP promised to deliver if given control of Congress? Cue crickets chirping – put hand over eyes to shield sun as you gaze out towards the horizon – nope, nowhere in sight.

The one thing this bill passage is guaranteed to do is to drive an even bigger wedge between, not only Democratic members of Congress and the TPGOP membership, but even within the TPGOP itself. It’s as though Speaker Boehner is a maniacal train engineer  sending his locomotive plummeting down the tracks to the bridge he knows is out, screaming for more steam, more steam!

As the next two years progress we will no doubt see more of these nonsensical bills, and more Republicans voting against them, and with any luck at all a country tired of the TPGOP and a return of the House to grownups not needing a hanky handy every time they speak.

“But we have to get the deficit under control!” The TPGOP screams. “We don’t want to be bothered with any level headed, clear thinking debate. We just want to cut and slash everything that isn’t good and right in America.”

“Palin/Bachmann in 2012!” others cry.

“On with the revolution!” still more proclaim.

What the TPGOP has managed to do is to remove any and all meaningful discourse on the national debt/deficit and on the federal budget. And in so doing, they’ve magically ensured any differences on spending cuts won’t be resolved soon, meaning before the government runs out of money on 4 Mar 11, requiring a temporary spending bill when the current stopgap measure expires.

Boehner and company are insisting any new stopgap measure must carry huge spending cuts, an ultimatum carrying a threat of a government shutdown like the episodes that played to the advantage of former President Bill Clinton in his battles with Republicans in 1995-1996; the very same shutdown which eventually led to Newt Gingrich’s slinking away from Congress. Is Boehner prepared to slink away as well?

But who cares about government shutting down? Not the TPGOP; it’s on a roll baby, voting for other cuts, including voting for a ban on federal funding for the implementation of the year-old health care law; and falling all over themselves to see who can bow the lowest as they answer the royal command of anti-abortion lawmakers, calling for an end to federal funding for Planned Parenthood; again not only attacking the poor and minorities, but throwing woman under the bus too. “Raped and need help with that pregnancy?” they ask. “Too bad, God says you have to carry that baby to term!”

Is there not any group which benefits from the House being controlled by the TPGOP? Of course there is, it’s the Military Industrial Complex. While mercilessly slashing and burning domestic agencies spending by 12 percent, the TPGOP awarded the Pentagon with a 2 percent increase.

But wait sports fans, the TPGOP wasn’t finished, not by a long shot; one of its greatest nemesis’s, the Environmental Protection Agency (EPA) was out there and they needed to wound it, and wound it deeply, they needed to defend big business and industry from its numerous agency regulations constantly threatening job-creation and the economy. And wound it they did, slashing its budget by almost one-third, and hampering its regulatory powers. In the process, if the TPGOP has its way, proposed federal regulations would be blocked on emission of greenhouse gases, and a proposed regulation on mercury emissions from cement kilns would also be stopped.

For those living in Maryland, Delaware and Virginia, Rep Robert Goodlatte, TPGOP-Va., won a 230-195 vote blocking an EPA plan for cleaning up the Chesapeake Bay that would cut pollution from runoff from farms and municipalities throughout the Chesapeake watershed. Yeah for you! Aren’t you happy to have such a wonderful guy looking out for your interests? After all, it’s not like any of you rely on that pesky old bay for your livelihoods or anything.

And woo hoo for Floridians! Your local agricultural interests won a vote blocking those damnable EPA rules issued last year aimed at controlling fertilizer and other pollutants that stoke the spread of algae in the state’s waters. More algae! More algae!

As dire as all this sounds however, these cuts aren’t going to happen. Thank God the Senate and White House are in Democratic hands. And just as Limbaugh, Hannity and Beck have to go further and further to the right-wing extremes to keep their listeners happy, these TPGOP members of congress are going to have to keep going further and further to the right-wing extremes to keep their “constituents” happy. This side show will play well for awhile, but like any traveling circus, eventually it runs out of people wanting to watch the show, pulls up its stakes and moves on. It happened to the GOP House in the nineties, and it will happen to TPGOP of the current Congress. Time – in spite of what the Rolling Stones sing – is not on their side.

 
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Posted by on February 19, 2011 in Federal Budget

 

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