Wednesday, July 20, 2011

GOP goes to the mat... for tax subsidies for BIG OIL

Last December, President Obama caved in to the Republicans who demanded extra tax cuts for the wealthy in exchange for an extension on unemployment benefits. Now the GOP is balking at paying for these cuts by refusing to raise the debt ceiling.

You should also be offended that we are talking about cutting Medicaid and Social Security, which we paid into, but the GOP refuses to even consider closing tax loopholes on corporate-jet owners or getting rid of taxpayer subsidies on big oil companies.

By the way, the corporate jet loophole would only mean depreciating the stupid jets at 5 years instead of 7. Yeah, that will really cost a lot of jobs somehow.

Then there's that stupid hedge fund loophole that only benefits a few on Wall Street but costs us hundreds of billions...nah, better to cut off Grandma's water bill.

That is what they are going to the mat for folks. This is the GOP's line in the sand... NO sacrifice for any rich-folk and taxpayer money being GIVEN to those who need it least.

That is the line in the sand. Please consider that fact next November.


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