Wednesday, December 1, 2010

GOP Coup - Starve the Little Children, Feed the Rich

Let Them Eat Cake
House Republicans have temporarily blocked legislation to feed school meals to thousands more hungry children.

Republicans used a procedural maneuver Wednesday to try to amend the $4.5 billion bill, which would give more needy children the opportunity to eat free lunches at school and make those lunches healthier.

Republicans say the bill is too costly and an example of government overreach.

The president met with liberal Democrats Tuesday in a last minute push to unite his party in support of a $4.5 billion child nutrition bill that would improve lunches in schools and expand feeding programs for low-income students.”  (Source)

While the Rich Get Richer
And they will probably get continued tax breaks
Republicans are prepared to vote down a bill extending all but the top-end tax cuts, the second-ranking GOP leader in the House said Tuesday….Incoming House Majority Leader Eric Cantor (R-Va.) said that he was ready to instruct GOP members to vote down legislation Democrats plan to bring to the floor that would extend the expiring Bush-era tax cuts only for the middle class.   (Source)

Republicans support the extension of lower rates in the top brackets, along with abolishment of provisions that phase out deductions and personal exemptions for high wage earners. Under current law, Congress would have to raise taxes or cut spending elsewhere in the budget by about $21.3 billion for 2011 and $573 billion over the next decade to retain the 33 and 35 percent tax brackets.  (Source)
Letting the tax cuts for wealthiest expire would reduce the deficit by about $700 billion over 10 years. Extending all the cuts adds to the deficit — the shortfall between what government collects and what it spends — by an estimated $2.5 trillion over a 10-year period.  (Source)
Treasury Secretary Timothy Geithner said Wednesday that extending the Bush-era tax cuts for the wealthy would be a $700 billion mistake. (Source)
All they need to do is pay a measly 3% more on income over $250,000
($250,000: a quarter of a million dollars)
Affecting the top 2% (the wealthiest) - get real folks you are probably not in the top 2% and you probably will never be in the top 2%

"(the Joint Tax Committee estimates
the cost of extending the Bush tax cuts
for the top 1 percent to be $61 billion in 2011 alone.)”   (Source)

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