Letter: Close tax loopholes to help balance budget
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From: Denny Kubal
Nashville
Received: March 9
John Boehner and the Republicans in Congress tout bipartisan cooperation as a way to solve the budget crisis but go on to state they won’t consider any tax increase!
How do you compromise with the Democrats when you set as a precondition you won’t even consider the Democrats’ demands?
Aren’t negotiations doomed to fail under such a “my way or the highway” approach?
Republicans and their tea party supporters think the best way to attack the deficit is to cut spending.
The Democrats think that spending cuts should be coupled with closing loopholes, which benefit well-connected corporations.
According to Citizens for Tax Justice, the 30 largest corporations earned over
$160 billion last year and paid no federal income taxes. Closing these loopholes as the Democrats demand would force them to pay their fair share of taxes.
Republicans would rather protect these corporations, while cutting food stamps, Medicaid and other programs for the less advantaged.
According to a Pew Research Poll conducted 02/15/13, 59 percent of respondents prefer cutting spending and raising taxes as a way to cut the deficit, versus 35 percent who prefer to just cut spending.
Under the Republican budget, federal spending on Medicaid would be reduced by $810 billion over 10 years. Estimates show that 14 million people, mainly low-income, could lose coverage under this plan.
The Republican budget cuts food stamps by
$134 billion.
According to the Center on Budget and Policy Priorities, “an average of almost 10 million people would have to be cut from the program.”
According to a Pew Research Poll conducted in February, only 22 percent favored Medicaid cuts, and 77 percent don’t want cuts to food stamps.
The Republicans insistence on protecting large corporations from paying any taxes at all, while cutting programs for the poor, disabled and needy is against the will of the people and will only result in more gridlock.
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