Posted on 01/09/2013 3:20:33 AM PST by Bratch
In a post yesterday, James chronicled the rampant cronyism which characterized the so-called fiscal cliff deal. This morning Arthur Brooks appeared on CNBC’s Squawk Box and revealed some startling facts on the same topic. Here’s a partial transcript of the interview.
JOE KERNEN: The fiscal cliff fight’s over, a battle that is still looming large. Our guest host today is Arthur Brooks, president of the American Enterprise Institute, author of “The Road to Freedom.” Arthur, I want to just start just quickly with you. OK, your point — and we were talking about it in welcome, it’s good to see you — out of the $62 billion, we’ve got a trillion dollar deficit, this raises how much in revenue? $62 billion or so?
BROOKS: About $62 billion a year, $620 billion over 10 years.
KERNEN: Your work is that $50 billion out of $62 billion is to corporate cronies?
BROOKS: Yeah, the first two years, $100 billion is going to corporate cronies, payoffs to corporate clients of the government effectively. And all kinds of crazy stuff: algae producers, rum producers.
KERNEN: Renewable crap.
BROOKS: Yeah, yeah. The wind guys that are a big deal with the Obama administration. Effectively what it means is that 80 percent of the new tax revenues are going right into the pocket of corporate cronies.
KERNEN: So people that call him a redistributionist, it just sounds good to him that he’s trying to help the — he always calls them ‘folks’ I think. Rich folks got to pay a little bit more –
BROOKS: To rich folks, to other rich folks.
KERNEN: But the rich folks are actually paying to other rich folks. Redistribution from the 2 percent to the corporate –
BROOKS: The corporate 1 percent. So it’s basically the rich makers are redistributed to the rich takers. That’s basically what Obamanomics is all about in a nutshell. That’s how it works. And he talks about redistributing to poor people and working people and helping people and all that.
Think about that. 80% of the new revenues that the government will collect as a result of the fiscal cliff deal will go to Obama’s wealthy corporate cronies. I wonder what Obama’s low-information voters, to whom I referred yesterday, would think of that. Brooks, Joe Kernen and the rest of the Squawk Box crew discuss a few other things as well, including how meaningless this fiscal cliff exercise was in terms of actual deficit reduction. Click the image below to watch. It’s eye-opening.
He lies too everyone. But his own would not believe this
Like the entire US Congress, it is lie, lie, lie.
That’s what happens when a Republic is perverted into an Oligarchic Kleptocracy.
And?
TheDemocrat party has always been about payoffs and political favors. The Yellow Dog Democrats who voted for Obama knew the payoffs were on the way, the poor fools who voted because he was black were just plain stupid.
It’s always been that way with Democrats, with a Chicago Democrat it is even worse. Does anyone really think that rich Pelosi, Hoyer, Reid are actually voting to make themselves pay more taxes? If you believe that you are a damned fool.Congress is filled with 1%’ers they are not voting to raise their taxes. They are voting for more payoff money
Only 80%? He’s slipping....
The other 20% is to pay off the unions.
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