Wealthy CEOs Want Tax Breaks, Cuts to Poor and Elderly
"The corporate CEOs who have made a high-profile foray into deficit negotiations have themselves been substantially responsible for the size of the deficit they now want closed. The companies represented by executives working with the Campaign To Fix The Debt have received trillions in federal war contracts, subsidies and bailouts, as well as specialized tax breaks and loopholes that virtually eliminate the companies' tax bills. The CEOs are part of a campaign run by the Peter Peterson-backed Center for a Responsible Federal Budget, which plans to spend at least million pushing for a deficit reduction deal in the lame-duck session and beyond. During the past few days, CEOs belonging to what the campaign calls its CEO Fiscal Leadership Council -- most visibly, Goldman Sachs' Lloyd Blankfein and Honeywell's David Cote -- have barnstormed the media, making the case that the only way to cut the deficit is to severely scale back social safety-net programs -- Medicare, Medicaid, and Social Security -- which would disproportionately impact the poor and the elderly."* Who actually runs the GOP, who is not paying taxes, and who is asking for big breaks and bailouts? In short, Goldman Sachs' Lloyd Blankfein, Honeywell's David Cote, and other very wealthy corporatists. Cenk Uygur explains the corporate ideologies, priorities, and demands. *Read more from Christina Wilkie and Ryan Grim/ Huffington Post: www.huffingtonpost.com *Watch the CBS interview with Lloyd Blankfein: www ...
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Obama Giving in to Boehner's Tax Plan? Democrats Refuse
"Just two weeks from an economy-threatening deadline, fiscal cliff talks hit a lull Tuesday as House Speaker John Boehner announced that Republicans would also march ahead with their own tax plan on a separate track from the one he's been pursuing with President Barack Obama. The White House and leading congressional Democrats immediately rejected Boehner's "Plan B," which would extend soon-to-expire Bush-era tax cuts for everyone making less than million but would not address huge across-the-board spending cuts that are set to strike the Pentagon and domestic programs next year."* As Boehner moves forward with his "Plan B" on fiscal cliff negotiations, it looks more and more like Obama will give in to him, with taxes on people making 0000 yearly, social security, and more on the table. Democrats say this is a dealbreaker; will Obama give in? Ben Mankiewicz (Host, Turner Classic Movies), Jimmy Dore (The Jimmy Dore Show on TYT Comedy) and Michael Shure (Political Correspondent, TYT on Current) discuss where the fiscal cliff negotiations are now and what they mean. *Read more from AP via Washington Post: www.washingtonpost.com
"Just two weeks from an economy-threatening deadline, fiscal cliff talks hit a lull Tuesday as House Speaker John Boehner announced that Republicans would also march ahead with their own tax plan on a separate track from the one he's been pursuing with President Barack Obama. The White House and leading congressional Democrats immediately rejected Boehner's "Plan B," which would extend soon-to-expire Bush-era tax cuts for everyone making less than million but would not address huge across-the-board spending cuts that are set to strike the Pentagon and domestic programs next year."* As Boehner moves forward with his "Plan B" on fiscal cliff negotiations, it looks more and more like Obama will give in to him, with taxes on people making 0000 yearly, social security, and more on the table. Democrats say this is a dealbreaker; will Obama give in? Ben Mankiewicz (Host, Turner Classic Movies), Jimmy Dore (The Jimmy Dore Show on TYT Comedy) and Michael Shure (Political Correspondent, TYT on Current) discuss where the fiscal cliff negotiations are now and what they mean. *Read more from AP via Washington Post: www.washingtonpost.com
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