Principal and Policy believes that the H stands for Handout. Consider the following:
- Subsidies to cover the $100 per vehicle cost to install flexible-fuel tanks that can run on biofuelsIt is tempting to believe that ol' Handout never met a subsidy he didn't like. But, I did find three he would cut:
- Provide generous tax incentives to help automakers upgrade their existing plants in order to accommodate the demands of producing more fuel-efficient vehicles.
- Subsidies to auto manufacturers to partially defray legacy health care costs, but only if the manufacturers are willing to invest the savings right back into the production of more fuel-efficient cars and trucks.
- tax credits ($7000!!!) to consumers for the purchase of hybrid and ultra-efficient vehicles
- restore cuts to public housing operating subsidies
- income-related federal subsidies to individuals and families who do not qualify for Medicaid or SCHIP but need assistance to buy into the new public health plan or purchase a private health care plan.
- provide $4 billion in retooling tax credits and loan guarantees for domestic auto plants and parts manufacturers
- Everyone will be able buy into a new national health insurance plan -- If you cannot afford this insurance, you will receive a subsidy to pay for it. If you have children, they will be covered.
- we will reduce costs for business and their workers by picking up the tab for some of the most expensive illnesses and conditions.
- Earned Income Tax Credit - will double the number of single workers who receive the EITC and triple the benefit for full-time workers making the minimum wage, from the $175 they get today to $555.
- expand the Child Tax Credit to an additional 600,000 more Americans, who would receive $1,000 per child.
- provide an income tax cut of up to $500 per person - or $1,000 for each working family - to offset the payroll tax that they're already paying.
- give retired folks the same kind of relief - no retiree making less than $50,000 each year will have to pay income tax. This will eliminate income taxes for about 7 million Americans, at a savings rate of roughly $1,400 each year. And 22 million seniors won't even have to file a return and hire an expensive tax preparer.
- universal homeowners' tax credit - I'll create a mortgage interest credit so that both itemizers and non-itemizers get a break. This will immediately benefit 10 million homeowners in America. The vast majority of these are folks who make under $50,000 per year, who will get a break of 10 percent of their mortgage interest rate. For most middle class families, this will add up to about $500 each year.
- I will launch a Clean Technologies Venture Capital Fund that will provide $10 billion a year for five years to get the most promising clean energy technologies off the ground.
- end to subsidies for oil and gas companies (is this a tax increase?)
- eliminate subsidies to the private insurance Medicare Advantage program
- eliminate subsidies to private lenders in all federal student loans
Well, that might be some savings.... but I am not sure it will offset that long list of subsidies above.
Principle and Policy cannot afford Barack Handout Obama.
1 comment:
Ah Tears you're cracking me up... I like that instead of dealing with the issues you engage in ad hominem attacks. Thanks for visiting
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