House Minority Leader Nancy Pelosi (D.-Calif.) said today that the government must cut spending, and then explained that: “Tax cuts are spending.”
“Our whole budget is what $3.5 trillion,” Pelosi said at a Capitol Hill press conference. “So, when we talk about reducing spending, we certainly must, and we certainly have–$1.6 trillion in the previous Congress, $1.2 of it in the Budget Control Act.
“But spending is also related to tax cuts,” said Pelosi. Tax cuts are spending. Tax expenditures, they are called. Subsidies for big oil, subsidies to send jobs overseas, breaks to send jobs overseas, breaks for corporate jets. They are called tax expenditures. Spending money on tax breaks.
“And that’s the spending that we must curtail as well,” she said.
In fiscal 2006, the last full fiscal year before Pelosi became House Speaker, the federal government spent $2.65 trillion, according to the U.S. Treasury. In fiscal 2011, the last fiscal year that started when Pelosi was speaker, the federal government spent $3.59 trillion. Thus, from fiscal 2006 to fiscal 2011, annual federal spending increased by about $940 billion—or 35 percent.
Read original here: http://cnsnews.com/news/article/pelosi-tax-cuts-are-spending
EVERYONE should pay their fair share of income taxes! I have owned 4 homes (the first bought at 13% (Jimmy Carter) interest! but have never used the long form or gotten the deductions for interest! WHY should someone who buys too much house with too much debt pay less taxes for that debt?
Why should a man earning $50,000 a year with 5 kids pay less taxes then a man earning $50,000 with no kids?
DEDUCTIONS ARE UNFAIR AND PROBABLY UNCONSTITUTIONAL SINCE ALL AMERICANS ARE SUPPOSED TO BE TREATED EQUALLY.
Don’t waste your time & energy to palaver with JEB; you have better chance of success talking to a dead fish…
not
I hate so say it but she is right!
When you give an unfair tax credit or deduction (such as mortgage interest or deductions and credits for having a bunch of kids) it’s like giving cash out!
When a church doesn’t pay property taxes on a $5,000,000 building it’s like giving that church THOUSANDS of dollars which is unconstitutional!
Keeping a theif out of my wallet is SAVING not spending you crazy witch!
Nancy, how about you cutting back on your outlandish lifestyle at taxpayers expense?
I think we the People should also curtail your ability to opine on issues you have no understanding of and know NOTHING about. Given your record of previous utterances, you just proved that you’re world-class idiot!,