/PRNewswire-USNewswire/ -- As President Barack Obama signs into law the trillion dollar spending package promoted under the guise of economic "stimulus" and rushed through Congress by Friday, February 13th, Americans for Tax Reform has compiled a list of six things you should know about this package and the circumstances under which it passed:
1.) The House of Representatives has broken a commitment to posting the legislation online for no less than 48 hours before a vote.
Only a few hours after the U.S. House of Representatives passed a motion to instruct conferees on H.R. 1 mandating that the conference report be posted online in a searchable and downloadable form for no less than 48 hours before it may be voted on, negotiations began under the cover of night behind closed doors with no representatives of the Congressional minority present. Ultimately, the Democratic House leadership did not make the bill's language available until around 11:00 p.m. on Thursday, giving the public a mere 15 hours to scrutinize the bill (mostly overnight hours during which most Members of Congress were no doubt sleeping), of which only 5 hours were working hours. Congressional Record, page H1096.
2.) In signing this bill today, President Obama is violating his own transparency pledge.
Consider his campaign promise: "No more secrecy. ... when there's a bill that ends up on my desk as president, you, the American voter, will have five days to look online and find out what it is before I sign it, so that you know what your government's doing."(1) Manchester, New Hampshire, June 22, 2007 http://tinyurl.com/dl2wog (time: 20:20) Today, the bill will have been posted for only four days - not five.
3.) No Member of Congress voting for the bill confirmed prior to the vote that they had read the bill.
Americans for Tax Reform had asked all Members of Congress intending to vote for the conference report to sign and fax back/email to ATR the following form:
I, _____________________________, commit to the taxpayers of the (___________________ district of the) State of _______________________, that my vote in favor of the conference report on H.R. 1 will be an informed vote, because I will have read the full text of the bill and the conference report by the time I cast my vote.
All Members who voted for the package refused to make this commitment. http://atr.server278.com/even-one-democrat-read-bill-a2887
4.) No Member of Congress voting for the bill confirmed that they were not looking to personally benefit corruptly from the bill with their vote.
Americans for Tax Reform asked all Members of the U.S. House of Representatives who voted in favor of the "American Recovery and Reinvestment Act of 2009" and U.S. Senators planning to support the package to commit to their constituents in writing that they will not accept political contributions from any recipient of "stimulus" funds, nor will seek or accept employment with any recipient.
All Members who voted for the package refused to make this commitment. http://atr.server278.com/atr-challenge-pelosi-obama-reid-spending-a2858
5.) In signing the bill, President Obama also breaks his promise to enact net spending cuts
During a discussion about government spending in the second presidential debate on October 7, 2008, Obama said "So we're going to have to make some investments but we've also got to make spending cuts, and what I've proposed -- you'll hear Senator McCain say 'he's proposing a whole bunch of new spending' --but, actually, I'm cutting more than I'm spending. So that it will be a net spending cut."
http://www.youtube.com/watch?v=eM0Eri8VWiw
6.) The "Stimulus" package will undo much of the progress of the 1996 welfare reform.
The package contains language that would essentially abolish the accomplishments of the 1996 welfare reform which drastically reduced welfare rolls and child poverty. Further, it would add large amounts in new welfare spending over the next decade. http://tinyurl.com/dax6xf
Says ATR president Grover Norquist: "President Obama hasn't even been in office for a full month yet - but, aided by the Democratic majority in Congress, he has already managed to break a series of promises in an effort to burden taxpayers with a massive spending package that will do nothing to promote economic growth, but will permanently grow the size of government undo much of the progress made in the mid-1990s in the area of welfare reform. If this first month is a sign of what's to come, then taxpayers will be in for a rough ride."
(1) Conveniently, that pledge was later massaged to only extend to "non-emergency" bills, however even by that standard, the President has already twice violated that commitment with the Lilly Ledbetter Fair Pay Act and the S-CHIP reauthorization bill that contained a tax increase (and broke another one of his campaign promises not to raise taxes on anyone making less than $250,000).
Showing posts with label taxes. Show all posts
Showing posts with label taxes. Show all posts
Tuesday, February 17, 2009
Wednesday, February 4, 2009
ATR: Obama Breaks Campaign Promise
/PRNewswire-USNewswire/ -- Today, on the sixteenth day of his presidency, Barack Obama broke one of the central promises of his candidacy: No American earning under $250,000 per year would face any form of tax increase under his administration. By signing the S-CHIP legislation today, Obama has now broken his oft-repeated promise.
Obama's signature puts into effect a 156 percent increase in the federal excise tax on tobacco, a hike of 61 cents per pack.
Obama promised repeatedly on the campaign trail that he would never raise taxes on those making less than $250,000 per year:
"I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes." (Barack Obama, September 12, 2008, Dover, NH).
[Video footage of above quotation: http://www.youtube.com/watch?v=Q8erePM8V5U ]
Shouldering the burden of this tax increase are the middle- and low-income Americans Obama said he would not raise taxes on:
-- 55 percent of smokers are "working poor."
-- One in four smokers live below the poverty line.
-- On average, smokers, whose median income is a little more than
$36,000, make about 30 percent less than non-smokers.
"Tom Daschle and Leona Helmsley believe that only the little people should pay taxes," said Grover Norquist, president of Americans for Tax Reform. "Obama agrees; he just raised taxes on millions of lower-income Americans. His central campaign promise was a lie."
Obama's signature puts into effect a 156 percent increase in the federal excise tax on tobacco, a hike of 61 cents per pack.
Obama promised repeatedly on the campaign trail that he would never raise taxes on those making less than $250,000 per year:
"I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes." (Barack Obama, September 12, 2008, Dover, NH).
[Video footage of above quotation: http://www.youtube.com/watch?v=Q8erePM8V5U ]
Shouldering the burden of this tax increase are the middle- and low-income Americans Obama said he would not raise taxes on:
-- 55 percent of smokers are "working poor."
-- One in four smokers live below the poverty line.
-- On average, smokers, whose median income is a little more than
$36,000, make about 30 percent less than non-smokers.
"Tom Daschle and Leona Helmsley believe that only the little people should pay taxes," said Grover Norquist, president of Americans for Tax Reform. "Obama agrees; he just raised taxes on millions of lower-income Americans. His central campaign promise was a lie."
Thursday, January 15, 2009
Obama Windfall Profits Tax on Oil and Gas Industry Could Fund Stimulus Plan
/PRNewswire-USNewswire/ -- The following is a statement from American Small Business League President Lloyd Chapman:
Every day for more than two years President-elect Barack Obama promised voters that if he was elected president, he would enact a windfall profits tax on the oil and gas industry to fund a $1000 per household energy rebate. (http://www.youtube.com/watch?v=QJPo5IGTd0A)
Just two days after being elected on November 6, President-elect Obama rolled out his transition website, Change.gov, (http://www.asbl.com/documents/Economy_Change.pdf) which contained all of the policies he intended to implement. The top issue under the "Economy" section of the Obama-Biden Agenda was the enactment of a windfall profits tax on the oil and gas industry. Two days later on November 8, the windfall profits tax vanished from the website. To this day, President-elect Obama has never personally offered any justification or rationale for the disappearance of one of his biggest campaign promises.
Now, with America in the middle of a historic economic disaster, which could rival the Great Depression, President-elect Obama's windfall profits tax on the oil and gas industry might be the perfect vehicle for funding an economic stimulus plan.
President-elect Obama is now proposing to spend up to one trillion tax dollars to stimulate the nation's failing economy. As opposed to spending approximately $300 billion in taxes to fund a $1000 per household tax rebate, now is the perfect time for President-elect Obama to reconsider the windfall profits tax on the oil and gas industry to help fund an economic stimulus plan. There is no question the oil and gas industry actually did make windfall profits during the last eight years and will almost certainly continue to do so.
The oil and gas industry's windfall profits began early in the Bush Administration. The Associated Press began reporting on the windfall profits in the oil and gas industry in 2003, when the average price of oil was $30 a barrel.
(http://www.washingtonpost.com/wp-dyn/articles/A60862-2004Jan29_2.html)
Since the oil and gas industry has made windfall profits even when the price of oil was as low as $30 dollars a barrel, it is almost certain they will continue to make record profits no matter what the price of oil.
The greed and lack of regulation of the oil and gas industry was obviously a contributing factor to America's current economic crisis. Someone must pay higher taxes eventually to fund the Wall Street bailout, and President-elect Obama's one trillion dollar economic stimulus plan.
The oil and gas industry needs to be controlled in some way. The price of gas at the pump is on the rise again, and more windfall profits at the expense of working families struggling to cope are a virtual certainty.
President-elect Obama's windfall profits tax on the oil and gas industry was a great idea; everyone that voted for him thought so. Now is the time for President-elect Obama to enact the windfall profits tax on the oil and gas industry as he promised during his campaign. It will ensure energy prices stay low in relationship to the price of oil, and help fund the economic stimulus plan needed to save our nation's economy from what could be the worst economic disaster in American history.
Every day for more than two years President-elect Barack Obama promised voters that if he was elected president, he would enact a windfall profits tax on the oil and gas industry to fund a $1000 per household energy rebate. (http://www.youtube.com/watch?v=QJPo5IGTd0A)
Just two days after being elected on November 6, President-elect Obama rolled out his transition website, Change.gov, (http://www.asbl.com/documents/Economy_Change.pdf) which contained all of the policies he intended to implement. The top issue under the "Economy" section of the Obama-Biden Agenda was the enactment of a windfall profits tax on the oil and gas industry. Two days later on November 8, the windfall profits tax vanished from the website. To this day, President-elect Obama has never personally offered any justification or rationale for the disappearance of one of his biggest campaign promises.
Now, with America in the middle of a historic economic disaster, which could rival the Great Depression, President-elect Obama's windfall profits tax on the oil and gas industry might be the perfect vehicle for funding an economic stimulus plan.
President-elect Obama is now proposing to spend up to one trillion tax dollars to stimulate the nation's failing economy. As opposed to spending approximately $300 billion in taxes to fund a $1000 per household tax rebate, now is the perfect time for President-elect Obama to reconsider the windfall profits tax on the oil and gas industry to help fund an economic stimulus plan. There is no question the oil and gas industry actually did make windfall profits during the last eight years and will almost certainly continue to do so.
The oil and gas industry's windfall profits began early in the Bush Administration. The Associated Press began reporting on the windfall profits in the oil and gas industry in 2003, when the average price of oil was $30 a barrel.
(http://www.washingtonpost.com/wp-dyn/articles/A60862-2004Jan29_2.html)
Since the oil and gas industry has made windfall profits even when the price of oil was as low as $30 dollars a barrel, it is almost certain they will continue to make record profits no matter what the price of oil.
The greed and lack of regulation of the oil and gas industry was obviously a contributing factor to America's current economic crisis. Someone must pay higher taxes eventually to fund the Wall Street bailout, and President-elect Obama's one trillion dollar economic stimulus plan.
The oil and gas industry needs to be controlled in some way. The price of gas at the pump is on the rise again, and more windfall profits at the expense of working families struggling to cope are a virtual certainty.
President-elect Obama's windfall profits tax on the oil and gas industry was a great idea; everyone that voted for him thought so. Now is the time for President-elect Obama to enact the windfall profits tax on the oil and gas industry as he promised during his campaign. It will ensure energy prices stay low in relationship to the price of oil, and help fund the economic stimulus plan needed to save our nation's economy from what could be the worst economic disaster in American history.
Wednesday, January 14, 2009
Major Media Excuse Obama Nominee's Failure to Pay Taxes
/PRNewswire-USNewswire/ -- Rather than provide a check on the abuses of those in power, Accuracy in Media editor Cliff Kincaid says the media are making excuses for Obama Treasury Secretary nominee Timothy Geithner's failure over the years to pay a variety of taxes and to make sure those he hired as domestic help had legal status in the U.S. The media, Kincaid argues, are functioning as arms of the Obama Transition office. The most popular excuse, first put forward by the Obama office, is that Geithner just made "honest mistakes." This excuse has been picked up by the media, he notes.
In a column on the subject, Kincaid says, "based on the documents that have come out, he [Geithner] is either a tax cheat or a dummy when it comes to his basic personal finances and tax matters. Do we want either one as head of the Treasury Department?"
Kincaid suggests poor coverage of the scandal by NBC News may be related to the fact that Jeffrey Immelt, chairman and chief executive officer of NBC parent company General Electric (GE), is on the board of the Federal Reserve Bank of New York, whose president is Timothy Geithner. "It is also interesting to note that a subsidiary of GE, GE Capital, is getting some of the federal bailout money that Geithner, if he is confirmed, will have a role in managing," Kincaid notes. He asks, "Conflict of interest, anyone?"
He adds, "Another member of the board of the New York Fed is Lee C. Bollinger, the president of Columbia University, who serves on the board of the Washington Post Company. This is the media conglomerate whose media properties include the Washington Post newspaper, Newsweek, and Slate."
"Connections like this help explain why Geithner's tax problems won't become a scandal or even much of a controversy for major elements of the media," the AIM editor concludes.
In a column on the subject, Kincaid says, "based on the documents that have come out, he [Geithner] is either a tax cheat or a dummy when it comes to his basic personal finances and tax matters. Do we want either one as head of the Treasury Department?"
Kincaid suggests poor coverage of the scandal by NBC News may be related to the fact that Jeffrey Immelt, chairman and chief executive officer of NBC parent company General Electric (GE), is on the board of the Federal Reserve Bank of New York, whose president is Timothy Geithner. "It is also interesting to note that a subsidiary of GE, GE Capital, is getting some of the federal bailout money that Geithner, if he is confirmed, will have a role in managing," Kincaid notes. He asks, "Conflict of interest, anyone?"
He adds, "Another member of the board of the New York Fed is Lee C. Bollinger, the president of Columbia University, who serves on the board of the Washington Post Company. This is the media conglomerate whose media properties include the Washington Post newspaper, Newsweek, and Slate."
"Connections like this help explain why Geithner's tax problems won't become a scandal or even much of a controversy for major elements of the media," the AIM editor concludes.
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