... while Obama does the oppostite?
President Obama walked out of high-level negotiations Wednesday, saying according to a Republican aide, "I've reached my limit. This may bring my presidency down, but I won't yield on this."
Read more: http://www.foxnews.com/politics/2011/07/14/moodys-considers-downgrading-us-credit-rating-amid-stalemate-over-debt-limit/#ixzz1S4odwMQU
My Old Man, a coal miner and bricklayer, always said, "The Republicans are only out for themselves."
The Big Lie about taxes underlines this truth for me:
1. Tax breaks for the wealthy are supposed to create jobs. But the unemployment rate remains tenaciously at 9.2 % this month. http://www.youtube.com/watch?v=9dELS89CozY
2. Meanwhile, US corporations are sitting on nearly two trillion dollars in cash.
http://www.commondreams.org/headline/2010/10/28-0
http://www.aflcio.org/corporatewatch/paywatch/
3. And due to a gaping tax loophole, US corporations that keep their income offshore, pay no US taxes on it.
http://abcnews.go.com/Politics/general-electric-paid-federal-taxes-2010/story?id=13224558
And how is all that income made offshore? Because for decades US jobs have been the major export of our major corporations.
4. Meanwhile, executive compensation for US corporate execs leads the world and is at an all time high.
According to the Federal Reserve, U.S. corporations held a record $1.93 trillion in cash on their balance sheets in 2010. But they are not investing to expand their companies, grow the real economy or create good middle-class jobs. Corporate CEOs are literally hoarding their company’s cash—except when it comes to their own paychecks.
http://www.aflcio.org/corporatewatch/paywatch/
That's the Big Lie about not taxing the rich.
It's a lie the GOP leadership is clinging to... to the nation's detriment.
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