Tuesday, May 10, 2011
Dems Attempt to End Corporate Welfare for Big Oil There's no reason big oil companies like BP and Exxon are receiving government subsidies when we're looking at a budget deficit -- and that's why Dems are now moving to end the free paychecks for the corpo oil machines that damage our environment. Led by Finance Committee Chairman Max Baucus, D-MT, next week Democrats in the Senate plan to introduce a bill that will wipe out billions in tax incentives from oil giants, and redirect the money into the budget -- money that could potentially help save social programs like Medicare that the GOP wants to obliterate. Politico reports: Read more
As Jim Hightower explains it, is that “the wealthiest 1 percent of Americans possess more net worth today than the bottom 90 percent of us combined. Worse, these privileged few and their political henchmen have structured a new economic ‘normal’ of long-term joblessness, low wages, no benefits or worker rights, miserly public services, and a steadily widening chasm between the rich and the rest of us.” We must restore sanity to this nation.