Coburn: "Quit Subsidizing Millionaires"

[Conan71]

Sen. Tom Coburn releases report on government subsidies to millionaires
Republican senator says welfare for the well-off costs an average of $30 billion a year
 
BY CHRIS CASTEEL Washington Bureau ccasteel@opubco.com   
Published: November 14, 2011

WASHINGTON _ Subsidies and tax breaks for millionaires cost the U.S. government an average of $30 billion a year, according to a report released Monday by Sen. Tom Coburn, who wants to put new caps on federal benefits.

Sen. Tom Coburn releases report on government subsidies to millionaires

Coburn, R-Muskogee, wants to limit Social Security benefits for the wealthiest Americans and make them pay more for Medicare. The senator is also calling for an end to farm payments, unemployment benefits and certain tax write-offs for those with incomes above $1 million.

Coburn said Monday that government programs and tax policies are “subsidizing the lifestyles of the rich and famous.”

He said, “This welfare for the well-off _ costing billions of dollars a year _ is being paid for with the taxes of the less fortunate, many who are working two jobs just to make ends meet, and IOUs to be paid off by future generations.

“We should never demonize those who are successful. Nor should we pamper them with unnecessary welfare to create an appearance everyone is benefiting from federal programs.”

Coburn's new report expands on a theme that was part of the plan he released in July to cut $9 trillion in spending over ten years. Though Coburn has broken ranks with his party to say he would support tax code changes to bring in more money, he has also stressed that the government shouldn't be paying money out to people who don't need it.

Last month, he won support from the Senate to end annual farm subsidies called “direct payments” to those with adjusted gross incomes over $1 million. He has won passage of an amendment to prohibit unemployment benefits to millionaires.

According to his new report millionaires received:
_ $9 billion in Social Security payments between 2004 and 2009;
_ $74 million in unemployment benefits between 2005 and 2009:
_ $316 million in farm program payments between 2003 and 2009:
_ $89 million in conservation program payments in 2009 and 2010; and
_ $7.5 million in disaster housing payments between 2007 and 2010.

Since 2006, millionaires have claimed nearly $114 billion in tax deductions and credits, with about $100 billion of that for rental expenses and home mortgage deductions.

Because of the various deductions and credits, about 1,500 millionaires paid no federal income tax in 2009, the report says.

“Fleecing the taxpayer while contributing nothing is not the American way,'' Coburn said.
Coburn is not calling for an end to Social Security retirement payments to millionaires, since they pay into the system. But he says the payments should be “restrained.” On Medicare, Coburn is recommending that those with adjusted gross incomes of $1 million or more pay the full cost of their premiums for Part B insurance _ which covers physician visits and out-patient services _ and Part D _ which covers prescription drugs.


Read more: http://newsok.com/sen.-tom-coburn-releases-report-on-government-subsidies-to-millionaires/article/3623174#ixzz1diXUs86e

[Teatownclown]

I am beginning to see the end of Coburn's reign as a US Senator as he changes in advancing ideas that are not in lock step with the Teabagger/GOP agenda.

I might even have to take back all those negative posts about him....

[Hoss]

Sen. Tom Coburn releases report on government subsidies to millionaires
Republican senator says welfare for the well-off costs an average of $30 billion a year
 
BY CHRIS CASTEEL Washington Bureau ccasteel@opubco.com   
Published: November 14, 2011

WASHINGTON _ Subsidies and tax breaks for millionaires cost the U.S. government an average of $30 billion a year, according to a report released Monday by Sen. Tom Coburn, who wants to put new caps on federal benefits.

Sen. Tom Coburn releases report on government subsidies to millionaires

Coburn, R-Muskogee, wants to limit Social Security benefits for the wealthiest Americans and make them pay more for Medicare. The senator is also calling for an end to farm payments, unemployment benefits and certain tax write-offs for those with incomes above $1 million.

Coburn said Monday that government programs and tax policies are “subsidizing the lifestyles of the rich and famous.”

He said, “This welfare for the well-off _ costing billions of dollars a year _ is being paid for with the taxes of the less fortunate, many who are working two jobs just to make ends meet, and IOUs to be paid off by future generations.

“We should never demonize those who are successful. Nor should we pamper them with unnecessary welfare to create an appearance everyone is benefiting from federal programs.”

Coburn's new report expands on a theme that was part of the plan he released in July to cut $9 trillion in spending over ten years. Though Coburn has broken ranks with his party to say he would support tax code changes to bring in more money, he has also stressed that the government shouldn't be paying money out to people who don't need it.

Last month, he won support from the Senate to end annual farm subsidies called “direct payments” to those with adjusted gross incomes over $1 million. He has won passage of an amendment to prohibit unemployment benefits to millionaires.

According to his new report millionaires received:
_ $9 billion in Social Security payments between 2004 and 2009;
_ $74 million in unemployment benefits between 2005 and 2009:
_ $316 million in farm program payments between 2003 and 2009:
_ $89 million in conservation program payments in 2009 and 2010; and
_ $7.5 million in disaster housing payments between 2007 and 2010.

Since 2006, millionaires have claimed nearly $114 billion in tax deductions and credits, with about $100 billion of that for rental expenses and home mortgage deductions.

Because of the various deductions and credits, about 1,500 millionaires paid no federal income tax in 2009, the report says.

“Fleecing the taxpayer while contributing nothing is not the American way,'' Coburn said.
Coburn is not calling for an end to Social Security retirement payments to millionaires, since they pay into the system. But he says the payments should be “restrained.” On Medicare, Coburn is recommending that those with adjusted gross incomes of $1 million or more pay the full cost of their premiums for Part B insurance _ which covers physician visits and out-patient services _ and Part D _ which covers prescription drugs.


Read more: http://newsok.com/sen.-tom-coburn-releases-report-on-government-subsidies-to-millionaires/article/3623174#ixzz1diXUs86e

That kinda thinking just won't fly in Oklahoma.  He almost sounds pseudo-liberal here.

It's also one of the first things out of his mouth (or from his word processor) that I agree with.

[Conan71]

I am beginning to see the end of Coburn's reign as a US Senator as he changes in advancing ideas that are not in lock step with the Teabagger/GOP agenda.

I might even have to take back all those negative posts about him....

Maybe I'm such a pragmatist I don't see him losing his next election.  Or maybe I assume far more people who bill themselves as conservatives are not fiscally pragmatic.  True fiscal conservatism dictates that you don't spend more than you take in and that you don't provide programs for people who don't need them.

One thing you can say about Coburn is that he's always followed his own lead regardless of political consequences.  Whether or not you like his religiosity, it's hard to quibble with his financial common sense.

[nathanm]

One thing you can say about Coburn is that he's always followed his own lead regardless of political consequences.  Whether or not you like his religiosity, it's hard to quibble with his financial common sense.

I almost always disagree with him, but his value system is mostly internally consistent. That's a lot more than can be said about most of our elected representatives.

[we vs us]

I have to give it to Coburn.  This is ballsy, because he's touching what's now the third rail of GOP/Tea Party politics, which is Revenue from Rich People.  And doing it very specifically, which is, as we all now know, Despicable Class Warfare.  He's also couching it in terms of revoking welfare privileges, which opens the door to all sorts of sticky things, like thinking of other kinds of welfare for rich entities -- like corporations -- as a way to address the deficit. Finally, his proposal is an admission that inequality is real, is destructive, and needs to be fixed.  All in all, he's bought into the Democratic frame by proposing these things and completely discarded some of the most closely held opinions of the GOP thoughtmeisters, such as they are.  It's big news. 

The question is, does it go anywhere?  The GOP has already cracked a bit on "raising" revenue as a way to fix the deficit, though "raising" in this context actually means closing loopholes rather than increasing taxes.   So Coburn is working squarely within one of the themes of the moment. On the other hand he's pushing some ideas that aren't very much in vogue with the GOP folks in the house, and is also known for being -- well, not a whackadoo, but definitely a man with his own conservative priorities.  Further, if the GOP's current strategy is to tank the economy in prep for the 2012 elections -- something that most everyone agrees is happening -- anything substantive, which Coburn's proposal is, would be, well, unwelcome until after 11/2012. 

And as for his personal electability, I think he's about as safe as he gets.  He's established his credentials in his unique way and even though he may say some uncomfortable things, the GOP as a whole can ignore his lapses because they get to keep his Dr. No secret Hold Legislation power, which is central to the obstruction ploy of the last few years. 

[cannon_fodder]

He has gone up in my book with this, going a long way in echoing my sentiment.  I don't want to punish people for success, but a level of success shouldn't open you up to new ways to exploit our government either.  Farm subsidies are a HUGE problem built on a the false idea that farms are mostly small family operations.  The average farm is a multimillion dollar business.  Should we subsidize crop insurance and best practices - sure.  But guarantee the price of well established commodities that are already extremely profitable (read: corn & soybeans):  NO. 

Should a billionaire have the luxury of tax loopholes, havens, and trusts that render them an effective tax rate that is 1/2 of what a middle class American pays?  No way.  I don't want to fleece anyone, but why do I pay an effective tax rate in the 40% while those many times wealthier than I pay less than half of that?

And I don't want to give away the nation either.  We have social SUPPORT systems to help support society, get people back on their feet so they can contribute, to maintain a minimum thresh hold for children.  NOT to provide a standard of living for the lowest common denominator.  If you need section 8, title 19, welfare, food stamps, medicaid, transit assistance, free tuition, and bloated tax "refunds", you don't need the luxuries of cable TV, smart phones, alcohol, tobacco, or drugs.  Sorry, I want those things too - but if I can't afford them because of taxes, saving for my sons college, or putting money into retirement then I don't get them.  If you can't afford food - YOU CAN'T AFFORD TO SMOKE.

But then again, I just picked a fight with John Deere (and ergo the UAW), Cargil, Caterpillar, Monsanto, Pioneer, the State of Iowa/Nebraska/Illinois/////, the richest biggest donors to political campaigns, cable companies, Cricket, Budweiser, Philliip Morris, the Tea Party and the Pinkos...

[nathanm]

He has gone up in my book with this, going a long way in echoing my sentiment.  I don't want to punish people for success, but a level of success shouldn't open you up to new ways to exploit our government either.  Farm subsidies are a HUGE problem built on a the false idea that farms are mostly small family operations.  The average farm is a multimillion dollar business.  Should we subsidize crop insurance and best practices - sure.  But guarantee the price of well established commodities that are already extremely profitable (read: corn & soybeans):  NO. 

Should a billionaire have the luxury of tax loopholes, havens, and trusts that render them an effective tax rate that is 1/2 of what a middle class American pays?  No way.  I don't want to fleece anyone, but why do I pay an effective tax rate in the 40% while those many times wealthier than I pay less than half of that?

And I don't want to give away the nation either.  We have social SUPPORT systems to help support society, get people back on their feet so they can contribute, to maintain a minimum thresh hold for children.  NOT to provide a standard of living for the lowest common denominator.  If you need section 8, title 19, welfare, food stamps, medicaid, transit assistance, free tuition, and bloated tax "refunds", you don't need the luxuries of cable TV, smart phones, alcohol, tobacco, or drugs.  Sorry, I want those things too - but if I can't afford them because of taxes, saving for my sons college, or putting money into retirement then I don't get them.  If you can't afford food - YOU CAN'T AFFORD TO SMOKE.

But then again, I just picked a fight with John Deere (and ergo the UAW), Cargil, Caterpillar, Monsanto, Pioneer, the State of Iowa/Nebraska/Illinois/////, the richest biggest donors to political campaigns, cable companies, Cricket, Budweiser, Philliip Morris, the Tea Party and the Pinkos...

I'm 99% in agreement with you. I also agree that people on assistance ought not to smoke, drink, do drugs, or whatever, I also think that prying too deeply into their lives reeks of pinko commie BS.

[carltonplace]

Wow, who is this guy? I didn't think I could actually become a Coburn supporter but I have a new respect for him.

[heironymouspasparagus]

I am beginning to see the end of Coburn's reign as a US Senator as he changes in advancing ideas that are not in lock step with the Teabagger/GOP agenda.

I might even have to take back all those negative posts about him....

I been telling you he is a fairly decent guy... listen up, dude!

[heironymouspasparagus]

But then again, I just picked a fight with John Deere (and ergo the UAW), Cargil, Caterpillar, Monsanto, Pioneer, the State of Iowa/Nebraska/Illinois/////, the richest biggest donors to political campaigns, cable companies, Cricket, Budweiser, Philliip Morris, the Tea Party and the Pinkos...

Sic 'em, Tiger!!

What about ADM??  Get them involved, too!
Cargil, ADM, Monsanto, Pioneer (and I like to throw DuPont in for good measure) are all out of control.  Good luck!

[Teatownclown]

I been telling you he is a fairly decent guy... listen up, dude!

I read Breach of Trust and started to think he was ok....but then he joined the Occupy Congress Movement and I thought better.

Let's see his follow through. Maybe he has had an epiphany after those close calls with illness.  

That, or he's seen the approval ratings....

edit: let's not forget his fraternity house on C Street.....

[heironymouspasparagus]

I read Breach of Trust and started to think he was ok....but then he joined the Occupy Congress Movement and I thought better.

Let's see his follow through. Maybe he has had an epiphany after those close calls with illness.  

That, or he's seen the approval ratings....

edit: let's not forget his fraternity house on C Street.....

He will never agree with even half of what I want to see done, but I can live with guys like him much better than the other "you-know-who' clown...Inhofe.  At least Coburn is fairly honest about his failings.

[Teatownclown]

He will never agree with even half of what I want to see done, but I can live with guys like him much better than the other "you-know-who' clown...Inhofe.  At least Coburn is fairly honest about his failings.

Please, don't put Inhofe in my boat....that won't float.

http://www.truth-out.org/omg-congress/1321297276

"At rock bottom, this is my belief: We don't need politicians who trumpet their belief in God in an effort to convince us to vote for them. They lie a lot.

We need politicians who believe in arithmetic and the scientific method, people smart enough to figure out the answers to the problems all those believers that came before them have left us with."

[Conan71]

I have to give it to Coburn.  This is ballsy, because he's touching what's now the third rail of GOP/Tea Party politics, which is Revenue from Rich People.  And doing it very specifically, which is, as we all now know, Despicable Class Warfare.  He's also couching it in terms of revoking welfare privileges, which opens the door to all sorts of sticky things, like thinking of other kinds of welfare for rich entities -- like corporations -- as a way to address the deficit. Finally, his proposal is an admission that inequality is real, is destructive, and needs to be fixed.  All in all, he's bought into the Democratic frame by proposing these things and completely discarded some of the most closely held opinions of the GOP thoughtmeisters, such as they are.  It's big news. 

The question is, does it go anywhere?  The GOP has already cracked a bit on "raising" revenue as a way to fix the deficit, though "raising" in this context actually means closing loopholes rather than increasing taxes.   So Coburn is working squarely within one of the themes of the moment. On the other hand he's pushing some ideas that aren't very much in vogue with the GOP folks in the house, and is also known for being -- well, not a whackadoo, but definitely a man with his own conservative priorities.  Further, if the GOP's current strategy is to tank the economy in prep for the 2012 elections -- something that most everyone agrees is happening -- anything substantive, which Coburn's proposal is, would be, well, unwelcome until after 11/2012. 

And as for his personal electability, I think he's about as safe as he gets.  He's established his credentials in his unique way and even though he may say some uncomfortable things, the GOP as a whole can ignore his lapses because they get to keep his Dr. No secret Hold Legislation power, which is central to the obstruction ploy of the last few years. 

You should have become a political editorialist.  You have a gift with taking something so simple and making it look prettier than a $20 whore

(apologies to Slim Pickens)

[youtube]http://www.youtube.com/watch?v=37v-6Zs5T10[/youtube]