RESTORE THE MIDDLE CLASS: END CORPORATE WELFARE AND SAVE SOCIAL SECURITY
Since the U.S. Supreme Court removed restrictions on campaign spending in Buckley v. Valeo (1975), and Citizens United v. F.E.C. (2010), economic elites and corporations have lobbied heavily to disastrous end for the American middle class.
The result of this lobbying is that where in 1952 corporate tax revenue covered 33 percent of the federal budget, today it has dropped to less than 9 percent and the burden has been shifted onto working families and small businesses.
This lobbying has led to heavy handed foreign trade policies such as the North American Free Trade Agreement and the Panama Trade Deal, whose policies both reward American companies for moving jobs overseas and created the offshore tax havens that allow corporations and the richest Americans to avoid paying taxes.
The top 50 U.S. companies alone have spent billions of dollars on lobbying in the last 8 years while at the same time receiving 11 trillion dollars in federal loans and subsidies, and in some cases paying nothing in taxes. These same 50 companies are also reported to have 1.3 trillion dollars parked in offshore tax havens where it contributes nothing to the American economy.
In exchange for lucrative positions after leaving office and obscenely large campaign contributions, lawmakers enact legislation (often written by the lobbyists themselves) and appoint CEO's and others with conflicts of interest to regulate the industries that they have a stake in.
Collectively this lobbying, crony capitalism and corporate welfare has destroyed the American middle class and when elected we will rally against it. I will support all common-sense legislation which closes tax loopholes, undoes detrimental trade policies and creates jobs programs for working class Americans.