In a few weeks – the Gang of 12 “Super Congress” will meet to figure out a way to cut $1.2 trillion out of the deficit. So to figure out who’s going to win and who’s going to lose in a potential deal – we should follow the money – and in that case it appears Wall Street will once again make out like bandits. Banksters have given more than $11 million in campaign contributions to members of the Gang of 12 – so we might as well take closing the capital gains loophole off the table.
To make matters worse – the organizations that’s contributed the most to the Gang of 12 is the right-wing Club for Growth – a notorious anti-tax organization – headed up by Tea Party Senator Pat Toomey who someone find found a seat in the Gang of 12. So weeks before the Gang even meets – the deck is already stacked against the middle class.
Let’s hope these lawmakers look at the polls showing overwhelming majorities supporting tax increases on the rich and opposing cuts to entitlements programs – and not the billionaires who are giving them money.