The Minnesota Independent has a recap of Michele Bachmann’s most recent committee appearance, and although it looks like she may be back on the investigative trail of other members of Congress, it’s a tame appearance by her standards. Check it out.
Although it is nice to see her taking an interest in legislating rather than just communicating, Rep. Bachmann is once again forgetting that her actions don’t quite match up with her words. She has had chances to weigh in on limits to executive compensation before, and guess what, she voted against it. She also thought that giving executives even more in the way of tax cuts would be a better stimulus plan. A tireless populist, that Michele Bachmann.
For a real change, check out these facts about Obama’s budget:
HAD ENOUGH OF AIG CEOS GETTING BREAKS WHILE YOU PAY?
Five Reasons You Will Like Obama’s Budget:
1. Working Families, Not CEOs get a tax break. "$525.7 billion would be devoted to extending Mr. Obama’s signature "Making Work Pay" $800 tax credit for working couples."
2. No More Overseas Corporate Tax Loopholes. "The budget envisions reaping $210 billion over the next decade by limiting the ability of U.S.-based multinational companies to shield overseas profits from taxation."
3. Hedge Fund Managers Must Pay Taxes Too ($24 billion) "Another $24 billion would come from hedge fund and private equity managers, whose income would be taxed at income tax rates, not capital gains rates."
4. Closing Oil Company Loopholes $31.5 billion. "The Obama administration Thursday proposed raising at least $31.5 billion over 10 years from oil and gas companies, reflecting a repeal of tax breaks for domestic production and new charges on oil and gas production in the Gulf of Mexico."
5. No More Tax Loopholes for America’s Wealthiest People. As OMB Director Peter Orszag explained, "the tax code treats two different contributors to a non-profit. If you’re a teacher making $50,000 a year and decide to donate $1,000 to the Red Cross or United Way, you enjoy a tax break of $150. If you are Warren Buffet or Bill Gates and you make that same donation, you get a $350 deduction – more than twice the break as the teacher."