Energy Bill’s Corporate Welfare
The Republican Party hates welfare, except when its target is the corporations run by its close allies and major campaign contributors. As David Cay Johnston reports:
Policy analysts across the political spectrum yesterday denounced the energy bill that Republicans in Congress hope to push to approval this week, saying it represented micromanagement of the economy and would open vast new opportunities for tax cheating.
Many experts said they were taken aback by the size of the proposed breaks, estimated by Capitol Hill staff members at $25.7 billion over 10 years. That is more than three times the $8 billion in tax incentives that the Bush administration said last year in a letter to Congress that it wanted for energy producers.
Really. They have no shame.
Remember, moreover, that given the deficits these Republicans insist upon, these corporate goodies are going to be paid for by your children and future generations.
Fiscal conservatism, indeed.
Fiscal conservatism? This is an incorrect term. Free Market that Republicans try to push so hard is a fiscally liberal. The “liberals” are the one with conservative fiscal views, such as regulating the economy to keep it stable.