Guest blogged by Lawrence Rafferty on JonathanTurley.Com
April 2, 2011- It seems like everywhere you turn there is a story about the how bad the deficit is and how the government must make drastic cuts to save the economy and reduce the deficit. The Tea Party is clinging to their demands for $100 Billion in budget cuts or they say they will shut down the government. “Rep. Mike Pence (R) of Indiana, a tea party favorite in Congress, urged taking a hard-line on budget cuts – and if that meant a shutdown, then so be it. “If liberals in the Senate would rather play political games and shut down the government instead of making a small down payment on fiscal discipline and reform, I say, shut it down,” Congressman Pence said, eliciting a chant of “Cut or shut! Cut or shut!” from the crowd. Republicans worried about blame for a shutdown might not be so happy with Pence for that.” Christian Science Monitor
It is interesting to note that cuts in the bloated defense budget were not included in the demands made by the Republicans and Tea party faithful. They want to cut the programs that seem to do the most good for the poor and the middle class, all the while allowing the wealthy and corporations to get tax breaks and tax credits. We have seen the stories detailing so many of the big corporations that paid little or no federal tax. “Last week, the New York Times reported that General Electric (GE), the world’s largest corporation paid nothing in federal corporate income taxes in 2010. In fact, the company made over $14 billion in profits and actually received a $3.2 billion tax benefit.” Think Progress
That is an amazing statistic. GE not only paid no federal taxes, they actually got billions in tax credits! That means that all of those nurses, and firemen and state workers who were in danger of losing their jobs, paying more in insurance premiums and losing their collective bargaining rights in states across the union because of the dire economic situation in their states, actually paid more taxes to the Federal Government than the Third largest corporation in the world! Why aren’t the Tea Party faithful going after the GE’s of the world to share in the sacrifice?