These Teaparty shitheads are beyond the pale. From Think Progress:
[Tea Party Sen. Mike Lee (R-UT)] wants to gift multinational corporations with a permanent tax break worth tens of billions of dollars.
A slew of multinational corporations — even though they already pay exceedingly low taxes — have been pushing for the enactment of a tax repatriation holiday, which would allow them to bring money they have stashed overseas back to the U.S. at a tax rate dramatically lower than the statutory 35 percent. The corporations want a short window in which this low tax rate would apply. But Lee has decided that he would just go ahead and make the holiday permanent:
Today, Senator Mike Lee submitted legislation that would create millions of new jobs and inject $1 trillion into the American economy by significantly reducing the excessive tax on repatriated assets. Sen. Lee’s proposal would permanently lower the tax rate for businesses from 35% to 5% on money earned overseas and brought back to this country…Unlike recent repatriation “holidays,” which last a short period of time, Senator Lee’s bill would make the repatriation rate permanent.
It would create ‘millions of new jobs’? Really Mike Lee? Like all the jobs that were created in the past 10 years with Bush’s tax cuts for the wealthy or after that last tax holiday granted to the multinationals?
On top of Lee’s flagrantly ridiculous proposal to enrich highly profitable multinational corporations even more (at the expense of our nation’s treasury), is THE REFUSAL by Teaparty House Leader, Little Lord Cantor (R-VA) to even allow the House TO VOTE on Obama’s Jobs Bill:
Says Obama: “Yesterday, the Republican Majority Leader in Congress, Eric Cantor, said that right now, he won’t even let the jobs bill have a vote in the House of Representatives. He won’t even give it a vote. Well I’d like Mr. Cantor to come down here to Dallas and explain what in this jobs bill he doesn’t believe in. Does he not believe in rebuilding America’s roads and bridges? Does he not believe in tax breaks for small businesses, or efforts to help veterans?” (via: liberalsarecool)
So, yea. #OccupyWallStreet because the Republican party has lost it’s goddamned mind. Tax cuts for the wealthy + spending cuts for the rest of us isn’t going to cut it anymore.