Bush does not support bailing out foreclosuring homeowners
Posted on August 12th, 2007 by bile Categories and Tags: Uncategorized, Afghanistan, Bush, Byron Dorgan, Congress, debt, Department of the Treasury, federal government, Iraq, medicare, nanny state, North Dakota, politics, SSI, subsidies, taxes, United States, USA, your moneyhttp://www.washingtonpost.com/…
President Bush said Thursday concern should be shown those who’ve lost their homes but it’s not the federal government’s job to bail them out.
“Obviously anybody who loses their home is somebody with whom we must show an enormous empathy,” Bush said. Asked whether he would champion a government bailout, Bush responded: “If you mean direct grants to homeowners, the answer would be `No, I don’t support that.’”
A Treasury Department study, released earlier this year, showed the federal corporate tax rate could be cut from 35 percent to 27 percent with the same amount of revenue collected if a number of corporate tax breaks were eliminated, thereby broadening the tax base.
Sen. Byron Dorgan, D-N.D., called Bush’s interest in a corporate tax cut irresponsible given the government’s rising debt. “It’s hard to make a case that large U.S. corporations are paying too much in income taxes,” Dorgan said.
It’s irresponsible to tax companies and individuals into the poorhouse. It’s irresponsible to have a rising government debt. Senator Dorgan is part of the problem. The president doesn’t allocate money and tax the public, Congress does. If he doesn’t want the government to be in debt he can lobby his fellow representatives to get rid of nanny state social programs and vote to stop funding the unconstitutional war in Iraq and Afghanistan. Hard to make a case that US corps are paying too much? They pay taxes on their income… then they are forced to withhold taxes from that when they pay their employees. They are forced to match the 7.5% they take from their employees wages for SSI and Medicare. End the income tax, end all unfair unappropriated direct taxes. If they need an income source to make up for the current income taxes (which make up 1/3ish of their income) than they can impliment something like the FairTax.
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