Friday, March 11, 2011
Important Information on the Class War that the Rich Elite of the United States is Waging Against Middle- and Working-Class Americans
Here are eleven examples of what our wealthy elite’s bribes to our legislatures have bought in the class war being waged by Americans on the poor and middle classes of the United Sates:
(1) $11.2 billion in early-childhood programs must be eliminated to help in the transfer of $11.5 million to pay the per-year cost of recent tax cuts for millionaires’ estates.
(2) $8.9 billion in low-income housing programs must be eliminated to pay for the $8.9 billion in mortgage-interest-income tax deductions for vacation homes over an estimated ten years.
(3) $7.6 billion in supplemental nutrition for poor families (the WIC program in California) must be eliminated to pay for the $6.7 billion cost of “estate planning” techniques used by the wealthy to avoid taxes.
(4) $4.6 billion in teacher-training and after-school programs must be cut to help pay for the $5.2 billion cost of removing the limit on itemized deductions for high-income taxpayers (Fiscal Year 2011).
(5) $4.1 billion dollars in job training for unemployed and new workers must be cut to pay for the $4.1 billion cost of tax breaks for offshore operations of U.S. financial companies.
(6) $2.5 billion in low-income home-energy assistance (the HEAP program) for poor families must be cut to pay for $2.5 billion in tax breaks for oil companies (write-offs for drilling and oil-well costs) (Fiscal Year 2012).
(7) $2.5 billion for community health centers must be cut to help pay the $4.9 billion cost of extending alcohol- and fuel-tax breaks.
(8) $2.0 billion in homeless-assistance grants must be cut to help pay for the $2.3 billion tax loophole for managers of hedge funds and private-equity funds (Fiscal Year 2012)
(9) $420 million in legal services for the poor must be cut to pay the $312 million cost of allowing companies to write off punitive damages over a ten-year period.
(10) $317 million in Title X family planning must be cut to pay for the $303 million cost of special tax breaks for the timber industry.
(11) $44 billion for all these programs combined must be transferred to pay for the $42.biillion one-year cost of extending Bush’s tax cuts for the top brackets (Fiscal Year 2012).
Posted by hkyson at 1:20 AM