Sen. Reid Introduces Looter Bill in the Senate in the Name of Shared Sacrifice!

"A bill to express the sense of the Senate on shared sacrifice in resolving the budget deficit." Sponsored by Sens. Reid, Lautenberg, Sanders, and Whitehouse. I am beginning to feel that I have fallen into the book Atlas Shrugged and am watching Wesley Mouch, Jim Taggert, and Orren Boyle at work in real time. Those who are being castigated by these progressively clueless Senators already provide more than any other economic category to the federal coffers. This is nothing more than a bill justify looting the producers of this country. The question is, what will these people do after they have looted all of the money from those who produce and keep this country's economic engine running.

The text of the bill is as follows:

S. 1323

To express the sense of the Senate on shared sacrifice in resolving the budget deficit.

IN THE SENATE OF THE UNITED STATES

June 30, 2011

Mr. REID introduced the following bill; which was read twice and ordered to be placed on the calendar

A BILL

To express the sense of the Senate on shared sacrifice in resolving the budget deficit.

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

SECTION 1. SENSE OF THE SENATE ON SHARED SACRIFICE.

(a) Findings- Congress makes the following findings:

(1) The Wall Street Journal reports that median pay for chief financial officers of S&P 500 companies increased 19 percent to $2,900,000 last year.

(2) Over the past 10 years, the median family income has declined by more than $2,500.

(3) Twenty percent of all income earned in the United States is earned by the top 1 percent of individuals.

(4) Over the past quarter century, four-fifths of the income gains accrued to the top 1 percent of individuals.

(b) Sense of the Senate- It is the sense of the Senate that any agreement to reduce the budget deficit should require that those earning $1,000,000 or more per year make a more meaningful contribution to the deficit reduction effort.

thomas.loc.gov/cgi-bin/query/C?c112:./temp/~c112qy1eL6
http://chumly.com/n/a39861