President Barack Obama is relying more on Wall Street money during this election than the last one, according to a new analysis by the Center for Responsive Politics. A third of the money Obama’s elite fundraising corps has raised is from the financial sector.
Sen. Tom Coburn (R-OK) defended the Gang of Six’s deficit-reduction proposal with the promise that only “the people sucking off the program are going to be the ones that lose.”
Matt Taibbi, Rolling Stone "We're seriously talking about defaulting on our debt, and cutting Medicare and Social Security, so that Google can keep paying its current 2.4 percent effective tax rate and GE, a company that received a $140 billion bailout en route to worldwide 2010 profits of $14 billion, can not only keep paying no taxes at all, but receive a $3.2 billion tax credit from the federal government.
Tell the person who picks up the phone, “Please stand strong against any rotten deal for working families, even if it has bipartisan support.” And tell them:
- No deal that kills jobs. Your top priority should be creating jobs.
- No deal that cuts Social Security, Medicare or Medicaid. “Chained CPI” or any other change in how cost of living is calculated is a back-door scam to massively slash benefits, and is unacceptable.
- No "territorial taxation system" that destroys American jobs by giving incentives for corporations to ship jobs overseas and shift profits to overseas tax havens.
- We cannot solve our long-term fiscal challenges with cuts alone. A deal that makes massive cuts today with vague promises to raise revenue in the future is not acceptable.