Jobs V Loopholes


By ThinkProgress War Room

7 Tax Loopholes the GOP Loves to Love

In less than two weeks the very damaging across the board “sequester” cuts will kick in unless Republicans agree to a replacement that is a balanced compromise including both new revenues from closing tax loopholes and smarter, more targeted spending cuts.

When it was convenient for them to do so, Republicans including Speaker Boehner and Mitt Romney argued vociferously for closing loopholes and ending wasteful giveaways in the tax code. But now that push is coming to shove, these Republicans are refusing to help protect the economy and jobs by replacing the sequester cuts with new revenues from closing loopholes.

This intransigence has real consequences. As the president laid out yesterday, these cuts will cause pain:

So these cuts are not smart. They are not fair. They will hurt our economy. They will add hundreds of thousands of Americans to the unemployment rolls. This is not an abstraction — people will lose their jobs. The unemployment rate might tick up again.

Here’s a look at the top seven loopholes and giveaways that Republicans think are more important than protecting our economy, jobs, the middle class, and the most vulnerable among us:

  1. Extra tax breaks enjoyed by the wealthiest Americans — $520 BILLION
  2. Tax break for companies that ship jobs overseas — $168 BILLION
  3. Special tax breaks for the largest oil companies — $25 BILLION
  4. The loophole that allow people like Mitt Romney to pay a lower tax rate than middle-class workers — $21 BILLION
  5. Tax deductions for vacation homes and yachts — $10 BILLION
  6. The corporate jet loophole — $3 BILLION
  7. Special write-offs for horse breeders (aka the Bluegrass Boondoggle) — $126 MILLION

BOTTOM LINE: The Republicans are choosing to protect millionaires and special interests like Big Oil and Wall Street instead of funding our military and programs vital for the middle class and the health of our economy.

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Supporters of the Keystone XL tar sands pipeline outspend opponents 35 to 1.

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How the sequester cuts hurt the long-term unemployed.

Fireside Hangouts: 3/4/2013 Join First Lady Michelle Obama in a Google+ Hangout to discuss Let’s Move!


GOOGLePosted: 20 Feb 2013 09:16 AM PST

In the past month, both the President and Vice President of the United States have come to Google+ to participate in “Fireside Hangouts” to discuss the challenges the country faces and answer people’s questions. On March 4, it’s First Lady Michelle Obama‘s turn as she joins her first-ever Fireside Hangout to discuss Let’s Move!, her initiative to ensure that all our children grow up healthy and reach their full potential.
 The First Lady will be joined by Kelly Ripa, Emmy award-winning co-host of popular daytime talk show “LIVE with Kelly and Michael,” and families from around the country.
Three years ago, the First Lady launched the Let’s Move! initiative to unite the country around our kids’ health and create real support for families to live healthier lives. Since then communities across the United States have worked together to share, collaborate on and create ways to improve the health of our nation’s children. This year, the First Lady is using Google+ to celebrate the anniversary of Let’s Move! and to connect with communities on Google+ who are passionate about healthy eating, fitness and parenting.

For a chance to join the Google+ Hangout with First Lady Michelle Obama, share your thoughts and questions on raising healthier families and communities on the Let’s Move YouTube channel.

Submit a video or text entry (video is preferred) telling us a bit about yourself, what your family does to stay healthy and a question for the First Lady by Thursday, February 28, 2013.
Then tune in to the First Lady’s Fireside Hangout live on the White House Google+ Page or Let’s Move YouTube channel at 11:10 am ET on March 4.
 Posted by Ria Tobaccowala, Google+ Community Partnerships

These Automatic Budget Cuts Will Hurt the Economy


Just 10 days from now, Congress might allow a series of severe and automatic budget cuts to take place that will hurt our economic growth, add hundreds of thousands of Americans to the unemployment rolls, and threaten military readiness.

But, as President Obama said this morning, these cuts don’t have to happen — Congress has the power to stop them.

Find out why these cuts are so harmful, and why Congress needs to act.

Watch President Obama's remarks

In Case You Missed It

Here are some of the top stories from the White House blog:

The Inside Story on Theodore Roosevelt’s Official Portrait For Presidents Day, White House Curator Bill Allman tells the inside story on Theodore Roosevelt’s official portrait.

From the Archives: George Washington Writes in the Margins Beginning in March, George Washington’s Acts of Congress will travel the country and visit the 13 Presidential Libraries of the National Archives through a partnership with Mount Vernon, offering a rare glimpse into history that is as relevant today as it was 224 years ago.

Giving Every Child a Chance in Life In Chicago, President Obama laid out a plan to rebuild ladders of opportunity for every American who is willing to work hard and climb them.

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