By Richard (RJ) Eskow, originally published at Huffington Post, June 29, 2011.
Republicans are perpetrating a fraud. They say they're concerned about reducing government deficits. But you don't need to look at how they treat all of the country's biggest corporations (which is extremely well) or even how they kowtow to its richest 400 families, who now have 6900 times as much income as the average household.
You only need to look at the way they treat 25 people.
The top 25 hedge fund managers in the United States collectively earned $22 billion last year, and yet they have their own cushy set of tax rules. If they operated under the same rules that apply to other people -- police officers, for example, or teachers -- the country could cut its national deficit by as much as $44 billion in the next ten years.
We're not talking about "raising taxes on the rich," either -- although that's an excellent idea. (There's an automated petition here that will encourage your representative to do just that.) This money could be raised simply by removing a tax loophole that protects hedge fund managers. And that's not counting all the other people who run hedge funds. We'd get that $44 billion from just 25 people. They can certainly afford it, and at least one of them (George Soros, #2 on the list) undoubtedly would approve.
But they won't do it. Instead of taking a simple step that could net as much as $4.4 billion per year, House Republicans have passed a budget that cuts $30 million for flood control and emergency funds that would help people avoid being hurt or killed in storms like the ones we've seen in New Orleans, Birmingham, the Midwest, and all across the country. They voted to cut $336 million from the National Oceanographic and Aeronautical Administration to track and predict violent storms.
Rep. Chris Murphy has urged leaders of the House Judiciary Committee to conduct a hearing consider a measure that “would end the Supreme Court’s immunity to judicial ethics laws,” Think Progress’s Ian Millhiser reports.
Murphy’s letter follows a recent report in The New York Times about Justice Clarence Thomas’s connections to Harlan Crow, “a major contributor to conservative causes,” including allegedly providing $500,000 to Thomas’s wife, Virginia, to launch a Tea Party group that worked to scuttle the landmark health care reform law. Thomas, The Times reported, has received other gifts from Crow, who has also donated $175,000 to a museum being constructed in the justice’s birthplace of Pin Point, Ga., which undoubtedly celebrate Thomas.
Common Cause, last year called on the Justice Department to look into other political connections of Thomas, as well as Justice Antonin Scalia.
In a press statement following The Times story, Common Cause President Bob Edgar asked, “Has Justice Thomas been traveling on a developer’s private jet and yacht, on the developer’s dime, while reporting that his expenses were borne by someone else? Do Supreme Court justices get a pass on the ethical standards that every other judge must meet?”







































