GOP fast-tracking tax cuts for the wealthy and corporations, paid for by eliminating our deductions
Maybe Republican voters who earn $250,000 a year or less can explain how the Teaparty / GOP politicians they voted into office are working for their constituentsand not for their wealthy donors. Get a load of this:
The Republican majority in the House have introduced a bill designed to extend tax cuts for the wealthy and make it harder to modify tax law. They want to bring the bill to a vote this coming week. That was fast, right? Why are they doing it? Because Democrats in the Senate extended the Bush tax cuts last week — but only for incomes of $250,000 or less. Suddenly the do-nothing, “party of no” is actually doing something — they’re going to protect the wealthiest one percent from a tax increase of a whopping 4.6%and give them even more of a tax cut.
The Raw Story: “Earlier this week, Democrats in the Senate scored a major coup in the fight over tax cuts. In a 51-48 vote, lawmakers passed legislation that would extend Bush tax cuts for the middle class, people making $250,000 a year or less, but not preserve tax breaks for the wealthy, which are set to expire at the end of the year. Senators Joe Lieberman (I-CT) and Jim Webb (D-VA) voted with Republicans.
“Republicans in the House have responded with legislation that calls for their own version of “tax reform,” a set of regulations that would shift the tax burden down the income ladder while giving millionaires an average of $187,000 in tax cuts in 2014. The Republican changes would encourage companies to invest overseas, reorganize tax brackets, reduce taxes on corporations and restrict them to a permanent rate of 25 percent or less …[and] increase taxes on families making less than $200,000 a year and repeal tax credits for low-income Americans signed into law by President Obama.”
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