The way this administration has been bumbling everything it touches this does not shock me: (h/t Michelle Malkin)
Thirteen of the companies receiving billions in federal bailout money owe a total of more than $220 million in delinquent federal taxes.
That’s the word from the chairman of a House subcommittee overseeing the federal bailout of financial firms. Rep. John Lewis of Georgia said Thursday that two of the companies owe more than $100 million apiece. In his prepared remarks, Lewis says that the House Ways and Means subcommittee on oversight discovered the delinquent taxes in a review of records from the IRS.
The revelation is sure to spark outrage on Capitol Hill, where the House is expected to vote Thursday on a bill that would impose steep taxes on employee bonuses at firms that have received bailout money.
Meanwhile Obama say’s hey! It’s ok to tack on higher taxes to those who already pay the majority of this country’s taxes because they can afford to pay it.
President Obama told Californians during a campaign-style town hall meeting on Wednesday that rich people can afford to pay higher taxes in selling his budget plan as an investment in the nation’s future.
Mr. Obama pushed back on people who say he is overtaxing the nation, saying his tax increases on families earning $250,000 or more a year are reverting to the tax system under former President Bill Clinton. The president added he will pay higher taxes himself as a result.
“These folks can afford it. They were rich back in the ’90s,” he said. “It’s not like suddenly they’re going to have to go to the poorhouse. But what that does is it allows us to pay for health care reform for a lot of people.”
Going after a line of attack Republicans have used against him, Mr. Obama insisted, “I don’t think that’s unreasonable. I don’t think that’s socialism.
It is unreasonable and almost all of your policies could be defined as Socialism Mr. Obama.
Best of all, there are alternative plans out there that would not raise taxes and controls the spending spree Obama and company are on…but no one is listening:
Republicans sense the opportunity. The House GOP leadership deputized the top Budget Committee Republican, Paul Ryan of Wisconsin, to prepare an alternative budget. The GOP budget won’t raise taxes, gets spending and debt under control, and will result in a stronger economy with more jobs. House Republicans plan a major selling effort back home during the coming recess. Minority Leader John Boehner is already up on YouTube extolling the plan.
Senate Republicans will not prepare a complete alternative, but they will offer a robust package of amendments, with a wave of proposals for each of the three weeks the upper chamber will devote to the budget. Senate Minority Leader Mitch McConnell and Republican Conference Chairman Lamar Alexander foreshadowed the GOP’s theme by saying the Democratic budget taxes, spends and borrows too much.
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