Sunday, March 24, 2013

Stock loopholes v. modern schools

There are reports in the news about the Senate finally passing a budget after four years. I'm puzzled that many of these reports add that budgets are merely symbolic. All budgets? Only this one? Because the House won't pass it?

A link somewhere led me to the budget proposed by the Congressional Progressive Caucus. The site has the names of Nancy Pelosi and Steny Hoyer on it so I assume this caucus is in the House. Yeah, I know it has little chance of going anywhere, but I like its features.

No more tax cuts for the rich. Instead, let's choose investment, especially in infrastructure. This budget will create 7 million jobs and reduce unemployment to 5%. In addition it will reduce the deficit by $4.4 trillion by closing loopholes and "asking the wealthy to pay a fair share."

The page offers a good comparison chart. Would you rather spend $112 billion on fossil fuel handouts or repair roads and bridges, with corresponding job gains? Perhaps spend $70 billion on corporate meals and entertainment or a three-year tax credit for working families? How about $25 billion on stock option loopholes or to modernize 35,000 public schools?

My choice is easy.

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