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Hijacking The Deficit Cutters – Investors.com

08/16/2011

Debt Crisis: The Congressional Black Caucus is trying to hijack the agenda of the super-committee appointed to tackle the deficit. The move confirms our fear that the panel will become an overly politicized joke.

A senior black caucus member, Democrat Rep. Jim Clyburn, announced he’s going to use his position on the 12-member supercommittee to close the growing “wealth gap” between blacks and whites. By that, he means working with the five other Democrats on the panel to raise taxes on the rich and redistribute money to poor minorities.

“The gap continues to grow wider between those who enjoy great wealth and those who struggle to get by with little thought of ever getting ahead,” Clyburn said.

The Joint Select Committee on Deficit Reduction is tasked with identifying at least $1.5 trillion in additional deficit reduction. It’s not a poverty commission, something for which Clyburn might have been better suited.

For years, the South Carolina Democrat has been pushing legislation — dubbed the 10-20-30 plan — to direct at least 10% of federal rural development spending to communities where at least 20% of the population has lived below the poverty line for at least the last 30 years.

The son of a minister, Clyburn calls his plan “tithing.” We call it taxing and spending. Critics say appointing Clyburn to a deficit-cutting committee is like appointing Ben and Jerry to a committee on nutrition…

Read More at Investors.com.

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