June 15, 2011
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The House has nixed any cuts to farm subsidies so the federal government will continue to dole out $5 billion annually to a program that mostly benefits corporate mega-farms. So much for the notion of smaller government. At the same time, the GOP is rolling out plans to do away with tax incentives for 401(k) plans, the only way left for working class folks to fund their retirement.
There’s the Republican idea of fairness for you. Cut (in some cases eliminate) taxes on big corporations and mega-millionaires while not giving the little guys even a deferral on taxes to help save for retirement.