Republicans in Congress like to put on a salt-of-the-earth act. They complain about “elitism.” They like to make speeches about how hard they fight for hard-working Americans who drive pickup trucks and don’t make much money but have big dreams. But don’t watch what they say. Watch what they do.
42 members of the House of Representatives have signed on in support of H.R. 5029. The bill:
* Altogether eliminates taxes on “capital gains” (money made off investment of money, not through work).
* Cuts the maximum tax rate paid by corporations to just 12.5 percent of income, far lower than the rate actual people pay.
* Eliminates restrictions on CEO pay for those banks that just took hundreds of billions in bailout money.
* Eliminates altogether any taxes on the inheritance of multimillion and multibillion dollar estates.
The above are all benefits for wealthy people and corporations. At the same time, H.R. 5029:
* Eliminates programs to cut health care premiums.
* Eliminates programs to extend broadband internet access to rural communities.
* Eliminates programs to make Medicare and Medicaid run more efficiently.
* Eliminates programs to help parents who have been laid off and cannot find a job.
In short, H.R. 5029 pads the wallets of trust fund kids and corporations while sapping efforts to help people who don’t have much. Every single politician who has signed on in support of H.R. 5029 is a Republican.