Paul Ryan: Budget negotiations are for cutting federal pensions, not corporate tax loopholes

[kpete]

TUE OCT 29, 2013 AT 07:13 AM PDT
Paul Ryan: Budget negotiations are for cutting federal pensions, not corporate tax loopholes
by Laura Clawson

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With budget negotiations coming up in Congress, Democrats are looking to end sequestration by getting new revenue through sources like closing corporate tax loopholes. However:

“If this conference is used as an excuse to raise taxes, then I fear we will not be successful,” House Budget Committee Chairman Paul Ryan (R-Wisc.) said last week. “We’ll take the spending cuts we have if that’s all it’s going to be.”

Because heaven forbid giant, hugely profitable corporations have to be spared the agony of paying as much in taxes as they pay their CEOs. Ryan does have one idea for who Congress could make pay, though:

As for the future, Ryan has proposed a 2014 budget that would require federal employees to pay more toward their retirement benefits while eliminating special supplemental payments to certain federal employees who retire before age 62. The savings under that plan would be an estimated $132 billion over 10 years

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Republicans are suggesting what amounts to a significant pay cut for these workers—just, heaven forbid, not a tax increase for those who can most easily afford it, be they billionaires or banks.

http://www.dailykos.com/story/2013/10/29/1251470/-Paul-Ryan-Budget-negotiations-are-for-cutting-federal-pensions-not-corporate-tax-loopholes