Tommy Coburn GOT ONE RIGHT! No more “welfare for the well-off.”
Senator Tom Coburn, a Republican from Oklahoma, has once again broken with his party’s dogma, this time with a new report — “Subsidies of the Rich and Famous.” It convincingly argues that there’s real revenue to be netted to help wrestle down the deficit if Congress dared to crack down on indefensible boons for the top brackets.
Source — Required Reading From Senator Coburn
Coburn totaled up all the federal money for millionaires over several years that his office could find. Among the handouts for the well-heeled are:
- $18.15 million in child care tax credits
- $74 million in unemployment checks
- $89 million for preservation of ranches and estates
- $316 million in farm subsidies
- $608 million in business entertainment deductions
- $9 billion in retirement checks
- $21 billion in gambling losses
- $28 billion in mortgage breaks for mansions, vacation homes and yachts
Source — Tom Coburn: $30 Billion In Millionaires Aid Is ‘Sheer Washington Stupidity’
Source: The New York Times
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timekiller-s reblogged this from sadstateticker and added:
Related stuff here,...Talking Points Memo (includes access to the report itself). I really...
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