Media (repetition of White House talking points) reports notwithstanding, these days it does seem that at least when it comes to fiscal issues, the only grownups in the room come from the right side of the aisle. On Sunday, the junior Senator from the Sooner State
. . . released a new report “Subsidies of the Rich and Famous” illustrating how, under the current tax code, the federal government is giving billions of dollars to individuals with an Annual Gross Income (AGI) of at least $1 million, subsidizing their lavish lifestyles with the taxes of the less fortunate.
“All Americans are facing tough times, with many working two jobs just to make ends meet and more families turning to the government for financial assistance. From tax write-offs for gambling losses, vacation homes, and luxury yachts to subsidies for their ranches and estates, the government is subsidizing the lifestyles of the rich and famous. Multi-millionaires are even receiving government checks for not working.
Kudos to Dr. Coburn! More Republicans need to speak out against such corporate welfare. This is one issue where our principles accord with at least one criticism leveled by those associated with the #Occupy Wall Street Movement. Making clear our opposition to such spending makes clear that the Republican is not the party of the rich, but instead of small government.
Commenting on Coburn’s report, Veronique de Rugy quips, “What is more striking here is the absurdity of a system that taxes people on one hand and gives back on the other.” Indeed. Read the whole thing.
The government, she contends, shouldn’t target millionaires for tax hikes nor should it single them out for federal benefits.