Tuesday, February 26, 2008

Tax Breaks for the Rich?

Barack Obama and Hillary Clinton voted against the Bush tax cuts. They said that these were tax cuts for the rich and the middle class saw zero benefits from the tax cuts. In the primary campaign for the Democratic Party nomination both of these candidates railed against the Bush tax cuts and promised to let them lapse. Both candidates rail against the special interest groups and lobbyists. Yet both of these candidates have sold their souls and introduced what else but tax cuts for the rich.

Obama provided for a targeted tax cut that cost the US government $800,000 in revenue. This is $800,000 that could have been used to reduce our National debt. How much did it take to get Obama to sell his soul for? Just $54,350. That's right folks all it takes to receive 15 times what you invest is to give it to Obama. What's worse is this tax break did not go to an American company that may have reinvested it in our economy and create more jobs. No it went to a Japanese firm that has operations in Illinois. This $800,000 raping of the American tax system mostly went back to Japan and paid a foreign fat cat. This little known tax cut was enacted in 2006. Just as America was bouncing the Republicans, the Democrats were taking advantage and providing tax cuts to their campaign contributors.

For Hillary's part she sold her soul for $162,800. It definitely takes a rich person to buy Hillary but nonetheless she sold her soul to the tomato industry. She did this all the time she railed against tax cuts for the rich. It must be hard to keep a straight face when you rail against the rich all the while you advocate providing tax cuts to the rich.

It is truly a shame when our politicians will say or do anything to get elected. They promise the fat cat donors that they will be taken care of; that they have nothing to worry about. It surely did not take Obama very long to learn how to take care of his big donors. After all he is still in his first term as a senator. Bill and Hillary were already known for selling the Lincoln bedroom for their big donors.

Is this the type of change Obama talks about? Obama is very vague about what he would actually do as President. He is big on rhetoric and speaks eloquently about change. However, it sure seems to me that if we change to the democratic party for leadership we will get more of the same. All that will be different is the set of crooks that benefit from the American Public.

No comments: