Payne: Presidebt Doublespeak (The Michigan View 07.26.11)

Posted by hpayne on July 25, 2011

Balance the budget by taxing the jet-flying rich? Do the math, it doesn’t add up. Balance the budget with higher taxes on “the wealthiest Americans or biggest corporations” like “President Reagan, the first President Bush, (and) President Clinton” passed? If that had worked, we wouldn’t still be in a deficit pickle.

But what stood out to me in the Spender-in-Chief’s divisive, class warfare speech was this intellectually corrupt line:

“How can we slash funding for education and clean energy before we ask people like me to give up tax breaks we don’t need and didn’t ask for?”

In fact, “clean energy funding” and “tax breaks for people like me” are one and the same.

Barack Obama’s rich green friends get $7500 tax break for buying electric cars like the Chevy Volt. Millionaire Elon Musk has received $465 million in federal Energy Dept. loans to build his luxury electric cars. Millionaire Henrik Fisker has received $520 million to build his battery-powered gold chariots. In Michigan alone, Fortune 500 corporations GM, Chrysler, and Ford have received $600 million in federal green loans combined. Millions in stimulus money have gone to giant corps like A123 Systems ($250 million), Dow ($160 million), and South Korea’s LGChem ($150 million). Big Utility DTE Energy got $84 million in stimulus to upgrade its “smart” meters. And so on.

Obama has ruled this corporate candy off limits to cuts. This isn’t just demagoguery, it’s deception.

 

 

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