Today Chuck Schumer took the stage at a Democratic rally against corporate money in politics. Last week, he attacked critics of the gimmicky Buffett Tax as those “who wants to protect tax breaks for millionaires and billionaires at all costs.” And this afternoon he blasts Republicans for wanting to cut off subsidies to Boeing — wait, what?
David Hogberg at Investor’s Business Daily tells the tale:
With his characteristic subtlety, he called reauthorization of Ex-Im Bank “an utter no-brainer,” and said the effort against it was “Tea Party’s kamikaze attacks.” …
Presumably that’s the same business community filled with millionaires and billionaires that Schumer would like to increase taxes on via the Buffett Rule. On Monday, Schumer said of the Buffett Rule, “Today, the day before tax day, we are going to find out who’s in favor of having everyone do their fair share, and who wants to protect tax breaks for millionaires and billionaires at all costs.”
So, in Schumer’s world, letting those millionaires and billionaires keep more of the money they earn is not OK. But giving those millionaires and billionaires taxpayer subsidies through Ex-Im Bank? Well, that’s just fine.
Presumably that’s the same business community filled with millionaires and billionaires that Schumer would like to increase taxes on via the Buffett Rule. On Monday, Schumer said of the Buffett Rule, “Today, the day before tax day, we are going to find out who’s in favor of having everyone do their fair share, and who wants to protect tax breaks for millionaires and billionaires at all costs.”
So, in Schumer’s world, letting those millionaires and billionaires keep more of the money they earn is not OK. But giving those millionaires and billionaires taxpayer subsidies through Ex-Im Bank? Well, that’s just fine.
In the Obama era, Boeing has benefited from two-thirds of all Ex-Im loan guarantees. Hogberg, writing at IBD’s blog “Capital Hill” blog writes:
Boeing CEO James McNerney, made more than $22 million in compensation last year. (McNerney previously worked at General Electric (GE), another huge U.S. company that benefits from government largesse.)
Capital Hill is just fine with him keeping more of his money via lower taxes. We’re not OK with forcing the taxpayers to subsidize his salary.
Capital Hill is just fine with him keeping more of his money via lower taxes. We’re not OK with forcing the taxpayers to subsidize his salary.
