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Sen. Bernie Sanders calls for eliminating corporate tax loopholes and tax breaks

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Sen. Bernie Sanders (I-VT) called for closing corporate tax loopholes and eliminating tax breaks for oil and gas companies Sunday after reports that General Electric and other giant corporations pay nothing or almost nothing in federal income taxes.

According to The New York Times, General Electric made $14.2 billion in profit last year, $5.1 billion of which was made in the United States. The corporation received $3.2 billion in tax benefits, but did not pay any money in taxes.

“We have a deficit problem,” said Sanders. “It has to be addressed, but it cannot be addressed on the backs of the sick, the elderly, the poor, young people, the most vulnerable in this country. The wealthiest people and the largest corporations in this country have got to contribute. We’ve got to talk about shared sacrifice.”

Oil giant Exxon Mobil made $19 billion in profits in 2009, but paid no federal income taxes, according to the senator. Instead, the corporation received a $156 million rebate from the IRS.

Sanders has introduced legislation that would establish a surtax on millionaires and strip tax deductions for oil companies — a proposal he claims would cut the deficit by about $50 billion.

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The Emergency Deficit Reduction Act would accomplish this by raising taxes by 5.4 percent on annual income over $1 million.

Sanders said it was grossly unfair for Republicans to propose massive cuts to Head Start, Pell Grants, the Social Security Administration, nutrition grants for pregnant low-income women and the Environmental Protection Agency while ignoring the fact that many corporations pay nothing in federal income taxes.

Meanwhile, Congressman Dave Camp (R-MI), the chairman of the House Ways and Means Committee, has said he hopes to cut the tax rate for the richest individuals and corporations to 25 percent and would like to see many popular deductions cut or completely eliminated.

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Sage Eastman, deputy staff director for the Ways and Means Committee, claimed the plan would create the same level of revenue while making the tax code less complex.

“You’re not getting a tax cut because those credits in the code are artificially altering those rates,” Eastman told MLive. “The plan is to continue with that same level of revenue, but do it in a more efficient way.”

A NBC/Wall Street Journal poll found late February that 81 percent of Americans believe a surtax on millionaires is an acceptable way to close the budget shortfall.


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Former FBI Director James Comey outlines the burning questions he’d ask Robert Mueller

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Former FBI Director James Comey has written a lengthy post at the Lawfare blog outlining the most important questions that Democrats need to ask of former special counsel Robert Mueller.

Although many of the questions outlined by Comey are simply asking Mueller to rehash the findings of his final report on Russian interference in the 2016 presidential election, he does ask some questions designed to get Mueller to offer up his own analysis of President Donald Trump's actions, such as, "Did you find substantial evidence that the president had committed obstruction of justice crimes?" and "Did you reach a judgment as to whether the president had committed obstruction of justice crimes?"

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Republican running against Alexandria Ocasio-Cortez had lavished praise on her great leadership

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Only one year after her historic victory over Rep. Joe Crowley, Rep. Alexandria Ocasio-Cortez might face a challenger.

The New York Daily News reports that a Queens Republican who used to support AOC is mounting an election bid to unseat Ocasio-Cortez.

Scherie Murray is a Jamaican immigrant who lives in Queens. She runs an advertising company and identifies as a Republican, the News reports. Murray, in announcing her challenge, accused Ocasio-Cortez of seeking fame at the expense of her constituents.

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Ivanka bashed by CNN guest for jumping into Trump’s racism scandal late and trying to make herself look good

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Appearing on CNN, the author of a piece in The Atlantic on Ivanka Trump's disappearing act whenever her father, President Donald Trump, does something offensive, said the first daughter likes to pick her spots when she can be "part of the show."

Speaking with CNN host Ana Cabrera, journalist Elaina Plott said Ivanka's influence on her father has been overstated since the beginning of his presidency and she moves into the public eye when it benefits her.

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