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Explain to me again WHICH party are the corporate whores and shills?
Can you explain this vote?
http://projects.washingtonpost.com/c...te/1/votes/89/
Those donkeys aren't following the script.. Ethanol cost shouldn't be paid out of the treasury.
If one looks at the tax subsidies for C corporations on Treasury`s official list for fiscal 2011 and compares that to what corporate income tax payments would be without the subsidies, one finds that in the current fiscal year, tax subsidies are expected to reduce corporate income taxes by a staggering 44 percent. But that`s not the full story, because some corporate tax subsidies are not included on Treasury`s list. As I noted earlier, we`re working on a new comprehensive study of the taxes paid or not paid by America`s biggest and most profitable companies, and our preliminary results so far suggest that corporate tax subsidies are now larger than corporate taxes paid.
Subsidies that reduce federal income taxes on C corporation shareholders (individuals):
Corporate profits are not only largely untaxed at the corporate level, they`re also barely taxed at the personal level.
Two-thirds of stock dividends paid to individuals, directly or into retirement plans or charitable coffers, are effectively taxed at a zero rate or less, and stock dividends that are reported on personal income tax returns are generally subject to a top tax rate 20 points below the regular rates.
Most capital gains on corporate stock are never realized and thus are never subject to income tax, and even when such gains are realized, they are subject to a top tax rate 20 points below the regular rates.
MaggieMae:
We've got Norquist (tax crusader) arguing that cutting subsidies = tax increases!!! That's got to be nipped in bud. NO ONE outside of D.C. buys that. And yet the REPUBs sit around and debate whether voting against Ethanol subsidies would violate their "no new tax" pledge.
INSANITY..
I'm with you.. We don't pay corps from the Treasury to do stuff they're gonna do anyway. I don't care if it's green and cute or goes bang. Heck without the subsidies they MIGHT figure out how to use 3rd rate vegetation to make ethanol instead of stealing it from people's tables!
Seems like the DEMS are gonna be responsible for ALL the major Subsidy wins in 2010. First GE gets to pay no taxes for all their GREENIE points, and now they protect Ethanol.
The main reason Senator Coburn quit the "gang of 6" congressional panel on deficits was that he knows that either subsidies will have to be cut and/or taxes increased, but he didn't want to go against Grover's tax pledge because that would be politically unfavorable. I think this is the first time I've seen Coburn play politics. Sad, really.
Senators Coburn & Feinstein represent Big Oil States. They hate the fact that Ethanol has cut into Big Oil profits.
Ethanol has created 500,000 good paying jobs adding $53 Billion to the US economy. That alone is a 10 to 1 payback for the ethanol tax breaks.
Durkee was arrested by the FBI on Sept. 2 on allegations of fraud surrounding the diversion of more than $670,000 from the reelection committee for a California state assemblyman, and a growing list of California Democrats, including Feinstein and Reps. Susan Davis and Loretta Sanchez, now appear to victims as well. I was wiped out too, we dont know how much, said Feinstein, indicating the losses in campaign funds could run into hundreds of thousands, or even millions, of dollars. Feinstein, who is up for reelection next year, reported just over $5 million in the bank as of June 30, according to disclosure reports filed with the Federal Election Commission.
She did my 92 campaign, my 94 campaign, my 2000 [campaign], my 2006 [campaign] my gubernatorial campaign, Feinstein told POLITICO on Monday, describing her long relationship with Durkee. I trusted her implicitly. Feinstein said she and her campaign staff have been unable to access all their bank records at this point because Durkee alone controlled access to the account, which has made it difficult for them to assess how much money is gone. Its very painful, Feinstein added.
Davis is missing more than $250,000 from her reelection committee. Loretta Sanchez has already declared her $379,000 campaign war chest was nearly wiped out by Kindee. The Los Angeles County Democratic Party reported that it lost at least $200,000, while California Assemblyman Jose Solorio (D) may be out as much as $677,000. And dozens of other campaign committees have yet to declare whether they suffered losses as well.
Durkee has not been formally accused of any wrondoing in connection with missing funds from the campaign accounts of Feinstein, Davis or Sanchez at this time, but Justice Department officials allege that Durkee moved money from one of Solorios accounts into an account she controlled and then wrote a check for $125,000 to Sanchezs campaign shortly before last Novembers congressional elections. In a letter sent by Davis on Sunday - first reported by the San Diego Union Tribune - the six-term House member told supporters that we have been robbed!
Upwards of $250,000 in campaign funds have been stolen from us. Our treasurer was arrested and is accused of funneling hundreds of thousands of dollars (maybe millions) to herself from our campaign, and the campaigns of many, many others, Davis stated.
Read more: Feinstein: 'Wiped out' by scandal - John Bresnahan and Jonathan Allen - POLITICO.com
