Strong message, as usual, from our fine Congressman in Austin, Lloyd Doggett:
Today, the U.S. House of Representatives voted on the Tax Reconciliation Bill (H.R. 4297). Under this misguided bill the wealthiest top 0.2% of households, those making more than $1,000,000, would be awarded 40% of the tax breaks. Over my opposition, this bill passed the House by a vote of 234 to 197. As noted below in the speech I gave on the floor of the U.S. House of Representatives, it is our children and grandchildren who will bear a great burden in paying for these giveaways. My speech can be viewed online at www.house.gov/doggett/Taxrecon.wmv
Rep. Lloyd Doggett, "The GOP 'Cut & Run Congress,'" December 8, 2005
When this Administration took over the White House, the United States enjoyed a multi-billion dollar budget surplus. But a Republican-controlled Washington proved unable to "stay the course." Instead, our public surplus has been surrendered - surrendered to special interests, and their corrupt coterie of cronies.
Every time Big Oil, or Halliburton, or some other corporation, shifts its jobs or profits offshore and asks for yet another tax break, this Congress waves the white flag of surrender. The commitment to any fiscal discipline is in full retreat. Now we have huge deficits as far as the eye can see.
At a time of war, Republicans demand no sacrifice from those at the top, no sacrifice from multinational corporations, which have refined creative tax dodging into an art, but they demand those at the bottom of the ladder sacrifice their all. Under this bill, the few individuals making over a million dollars each year are rewarded with an average of over $50,000 in tax breaks- so these few get another fancy foreign car added to their fleet.
But for the many earning up to $40,000 a year, and that is more than half of Americans, this bill provides on average $30- maybe one tank of gas.
Once again, America sees a true Republican Christmas is one where only the silk stockings get stuffed. And when the bill for the lavish Republican Christmas giveaways comes due, who pays? Our children. Most of the cost burden of these tax breaks is shifted to our children and grandchildren in the form of spiraling national debt.
But a part of the $56 billion dollar cost of today's legislation is paid for by cuts to child support enforcement, cuts to assistance to abused and neglected children, cuts to child care, and cuts to student financial assistance. The tax writing body in this chamber has truly become the "Committee of Greedy Ways and Shifty Means." And this will be remembered as the "Cut and Run" Congress: cutting taxes greatly for the few, and running trillion dollar deficits for the rest of us.
Because of stunts like this, the U.S. is now widely, and correctly, viewed not as a democracy but a plutocracy. (You can also understand why the Houston-area fascist Tom DeLay was so keen to try to redistrict Lloyd Doggett out of office--but it didn't work!)
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