I recently received an email from the office of Sen.Carl Levin, and it shows how Democrats are not serious in reigning in the massive debt the US government in incurring on an annual basis. The closing of ”tax loopholes” can be placed right along side that of ”ending pork barrel earmarks” in congressional spending, all good measures, but entirely ineffectual in reducing the national debt, which at current levels, is wholly unsustainable.
Sen.Levin, along with other statist politicians within the Dem party (and RINO Republicans), who refuse to talk about the need of taking a fiscal ax to the ever expanding entitlement programs, are not serious about the financial cliff the country is just about to leap over, and need to be removed from office.
NOTE: Another reason for term limits and for state legislatures to once again appoint U.S. senators to represent them in Congress, not through the public vote.
Closing loopholes can help avoid ‘fiscal cliff’
Carl Levin: Tax loopholes are one significant cause of the budget deficit and add to the tax burden that ordinary Americans bear. Recently, the Permanent Subcommittee on Investigations, which Sen. Levin chairs, held a hearing exposing how multinational corporations have taken advantage of loopholes in tax law and weaknesses in enforcement to shift their profits overseas and avoid paying taxes. Closing these loopholes is especially important now, as the “fiscal cliff” looms – a series of automatic spending cuts and tax increases on working families that could throw us back into recession. Seeking to help step back from the “fiscal cliff,” Sen. Levin wrote to congressional and administration leaders on the need to address offshore tax abuses as part of a balanced deficit-reduction package.