Thursday, December 26, 2013

Tax Expert David Cay Johnston Explains Why Ryan Budget Deal is an Epic Fail for the 99%



Partial transcript from Democracy Now interview on Dec. 16, 2013.

"The corporate loopholes aren’t being closed. The tax-avoidance techniques of billionaires, who can legally live tax-free if they choose to, are not being shut down. The hedge fund and private equity managers will continue to be advantaged. And we’re going to kick 57,000 poor children out of Head Start, which means we’re going to narrow their economic futures and make all of us worse off in the future. We’re cutting a billion-and-a-half dollars from medical research to save lives.

Why? 

Because the very richest people in America, those who have benefited most from being in this market, don’t want to pay for that kind of services. And by the way, being The War and Peace Report, the Pentagon is getting an extra $20 billion out of this deal. We already spend 42 percent of all the money in the world on our military. More money for the Pentagon? Seriously? While we are cutting off unemployment benefits and cutting medical research, reducing pensions for federal workers? This makes absolutely no sense. It will make us worse off."

Read more from David Cay Johnston:

http://america.aljazeera.com/profiles/j/david-cay-johnston.html

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