Fiscal Cliff Deal A “Crony Capitalist Blowout.” Taxes go up for average Americans, but these companies will get paid instead.
The gall of the lobbyists is astounding. Here we are, teetering we are told on the edge of a “fiscal cliff.” Below us is the abyss of renewed acute recession (depression.) We must do something! Anything! Just don’t let us go off the cliff!
That “something” apparently means millions of dollars in gifts to Nascar, and Starkist Tuna, and GE, and Captain Morgan’s Rum, and Whirlpool, and Hollywood, and who knows who else. Not you though – sorry.
Good thing we acted. Boy, we didn’t have a dime to spare. We needed to raise taxes on those successful small business owners so that we could subsidize the big corporations. Oh, and payroll taxes are going up for everyone else. Fairness I tell ya.
And this package of corporate welfare was constructed in the summer and put into the fiscal cliff bill at the insistence for the Obama Administration. They had it ready to go. They were just waiting for the right opportunity. Anyone who supported this president and in the same breath talked about government working for the 99%, I’m not going to say it. I won’t but boy do I want to.
At this point its just looting. It’s theft. Like the guys who break into liquor stores when the power goes out. It’s the same thing only on a colossally larger scale. It’s completely dishonorable. And the former head of the Senate, Republican Trent Lott, helped make all of it happen to boot. See bipartisanship isn’t a thing of the past. Who cares if the country is supposedly staring at economic disaster- again. Make sure our donors get their subsidies, their taxpayer funded subsidies.
Take all that you can, when you can. That is the Washington DC ethic these days. Crony capitalism central.
How are we going to turn this around people?
(From The Wall Street Journal)
In praising Congress’s huge new tax increase, President Obama said Tuesday that “millionaires and billionaires” will finally “pay their fair share.” That is, unless you are a Nascar track owner, a wind-energy company or the owners of StarKist Tuna, among many others who managed to get their taxes reduced in Congress’s New Year celebration.
There’s plenty to lament about the capital and income tax hikes, but the bill’s seedier underside is the $40 billion or so in tax payoffs to every crony capitalist and special pleader with a lobbyist worth his million-dollar salary. Congress and the White House want everyone to ignore this corporate-welfare blowout, so allow us to shine a light on the merriment.