Apr 16, 2012

Good News for Scott Tipton is Bad News for Colorado

While Coloradans struggle with high gas prices and unemployment, Congressman Scott Tipton and his campaign are thrilled about the tough economy. That’s what Tipton’s campaign manager Michael Fortney said when discussing Tipton’s reelection chances. To the rest of Colorado, high gas prices, high unemployment, and a gigantic national debt is bad news, but Fortney cited all three as reasons “we feel good.”

“While high gas prices, high unemployment, and bad economic news may be sunshine and lollipops for Congressman Scott Tipton, the rest of Colorado needs leaders who actually want to improve the economy instead of keep Colorado down for political gain,” said Stephen Carter of the Democratic Congressional Campaign Committee. “How can Coloradans expect Scott Tipton to work for them to create jobs and improve the economy when his campaign admits bad news for Coloradans is good for Tipton’s reelection? Maybe this is why Tipton voted to end Medicare and raise seniors’ health care costs to protect millionaires and companies that ship American jobs overseas.”

BACKGROUND

Tipton Campaign Manager says campaign “feels good” about high gas prices, debt, and unemployment. “Fortney expressed confidence in Tipton’s chances, although he stopped short of predicting victory outright this fall. ‘With gas prices doubled, the national debt doubled, and unemployment has barely moved, we feel good,’ Fortney said.” [The Colorado Observer, 4/14/12]

Tipton Voted for the House Republican Budget. On March 29, 2012, Tipton voted in favor of the House Republican budget. [H Con Res 112, Vote #151, 3/29/12]

AARP: The House Republican Budget Would Increase Health Care Costs for Older Americans. AARP CEO Addison Barry Rand wrote to Members of Congress on House Budget Committee Chairman Paul Ryan’s Fiscal Year 2013 budget resolution. In the letter, Rand wrote: “this proposal simply shifts these high and growing costs onto Medicare beneficiaries, and it then shifts even higher costs of increased uninsured care onto everyone else […] By creating a ‘premium support’ system for future Medicare beneficiaries, the proposal is likely to simply increase costs for beneficiaries while removing Medicare’s promise of secure health coverage -- a guarantee that future seniors have contributed to through a lifetime of hard work.” [AARP Letter, 3/21/12]

The House Republican Budget Would Give People Making Over $1 Million Per Year a $394,000 Tax Cut. “New analysis by the Urban-Brookings Tax Policy Center (TPC) finds that people earning more than $1 million a year would receive $265,000 apiece in new tax cuts, on average, on top of the $129,000 they would receive from the Ryan budget’s extension of President Bush’s tax cuts.” [Center for Budget and Policy Priorities, 3/27/12; see also Urban-Brookings Tax Policy Center, Table T12-0078 and T10-0132]

The House Republican Budget Pads Big Oil’s Pockets with Senseless Subsidies. “House Budget Committee Chairman Paul Ryan’s (R-WI) proposed FY 2013 budget resolution would retain a decade’s worth of oil tax breaks worth $40 billion. […] In short, the Ryan budget compounds the cost of high oil and gasoline prices on the middle class.” [Center for American Progress, 3/20/12]

The House Republican Budget Encourages Companies to Ship Jobs Overseas. Currently, U.S. companies pay the tax rate of the country where the outpost is located and then, if they bring those profits home, often pay some U.S. taxes as well. Under the Ryan’s proposal, companies essentially would pay just the tax rate of the country where the profits are earned. According to the Tax Policy Center, exempting these offshore earning from U.S. tax liability “might encourage some domestic companies to move more of their operations—and shift both jobs and more reported income– to low tax countries.” Similarly, Citizens for Tax Justice concluded that adopting this type of system would increase the incentives for job offshoring. [National Journal, 3/20/12; Wall Street Journal, 3/19/12; Tax Policy Center, 2/28/12; Citizens for Tax Justice, 10/19/11]


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