For Immediate Release
Contacts: Celeste Busser, National Education Association, 202-822-7823, Cfbusser@nea.org
Video Shows Tax Cuts for CEOs Rob Education Funding for Kids
Viewers Urged to Tell Congress to End Bush Tax Cuts for CEOs, Richest 2%
(Washington, D.C. – October 11, 2012) A new web video unveiled today by the National Education Association and Americans for Tax Fairness vividly shows how extending the Bush tax cuts for CEOs and the richest 2 percent of Americans would be paid for by cutting education funding for kids.
The video entitled, “Kids Not CEOs,” is timely because after the election next month Congress is expected to vote on whether to extend the Bush tax cuts for CEOs and the richest 2 percent that are due to expire at year’s end. If Congress ended the Bush tax cuts for CEOs and the richest 2 percent, it could save roughly enough revenue, $1 trillion, to avoid most of the $1.2 trillion in automatic spending cuts (sequestration) to education and other government programs over the next decade that are due to take effect starting in January.
“This video brings home the point that Congress faces a stark choice: it can protect our kids’ education, or it can continue to rig our tax system that already favors the wealthiest 2 percent and corporate CEOs at the expense of our children’s future,” said Dennis Van Roekel, president of the 3.2 million member National Education Association (NEA). “We’re urging the video viewers to take action and tell Congress to make the right choice: Kids Not CEOs!”
A new NEA analysis based on the September report by the Office of Management and Budget (OMB) finds that the across-the-board cuts set to go into effect January 2 could result in a loss of more than 78,000 education jobs. These cuts also will reduce education program funding dramatically, impacting essential services to 9.3 million students. The state-by-state impact of sequestration cuts on federal education programs is here.
“Many middle-class teachers already pay a higher income tax rate than millionaire CEOs,” said Frank Clemente, campaign manager for Americans for Tax Fairness, a coalition of over 200 national, state and local groups. “That’s unfair to teachers, but it’s even more unfair to give tax breaks to the rich that get paid for by cutting education jobs and education programs that kids need to succeed. It’s time Congress reformed our tax system so it stands up for Kids Not CEOs.”
The Bush tax cuts for the richest 2 percent give millionaires an average tax break of $160,000 annually, according to The National Economic Council. The Wall Street Journal reported that last year alone 57 CEOs received more than $1 million in tax breaks from the Bush tax cuts, collectively reaping more than $100 million in tax cuts, according to the Institute for Policy Studies.
You can view the “Kids Not CEOs” video at: http://americansfortaxfairness.org/kids. The video script and sources are cut and pasted below.
“Kids Not CEOs” Web Video – 1:15
Produced by Byrum & Fisk Advocacy Communications
|Limo window rolls down with CEO 2 looking outside
Three limos parked outside of school, doors open
Shiny black shoe steps on to the curb
CEO 3 surveys the scene, looking around
3 CEOs walk into school
CEO 2 takes chalk out of teacher’s hand while she is lecturing
CEO 1 hits golf ball as CEO 2 pushes milk cart behind him
CEO3 instructs class to draw the BP symbol
Close up of girl drawing the BP symbol
CEO 1 removes backpack from kid
CEO 2 takes a lunch tray from kids
CEO 1 blocks kid’s basketball shot attempt
CEO1 and CEO2 take piano away from girl
CEOs stacking books, putting in boxes
CEOs 2 and 3 walk through gym with milk cart and net full of basketballs
CEO 2 in limo, on phone and sipping milk
CEOs removing desks from classrooms until it is empty with only one kid left sitting
CG: STAND UP FOR KIDS, NOT CEOs
CG: Paid for by Americans for Tax Fairness
CEO 1 sits next to kid in cafeteria. Takes bite out of kid’s apple
CG: Contact your member of Congress at www.AmericansForTaxFairness.org
| Music begins
It sounds hard to believe.
CEOs and the richest 2 percent could get a trillion dollars in new tax breaks.
Paid for by kids and local schools.
Washington politicians want to give huge new tax breaks to CEOs from big banks…
Stealing money from our schools…
And making it harder for our kids to get the skills they need to compete for jobs…
Denying our kids’ opportunities to succeed…
Making teachers pay thousands of dollars out-of-pocket for basic school supplies like books and pencils…
While CEOs and the richest 2 percent keep milking the system.
It’s time we teach these politicians a lesson.
Contact your member of Congress and tell them to stand up for kids — not CEOs.
Tell them to end the Bush tax cuts for the richest 2 percent.
And make CEOs pay their fair share.
Sources for “Kids not CEOs” video ad
- “CEOs and the richest 2 percent could get a trillion dollars in new tax breaks.”
- Source: U.S. Congressional Budget Office, August 2012
- “CBO: Ending High-Income Tax Cuts Would Save Almost $1 Trillion,” Center on Budget and Policy Priorities, August 24, 2012; available at http://www.offthechartsblog.org/cbo-ending-high-income-tax-cuts-would-save-almost-1-trillion/
- “Washington politicians want to give huge new tax breaks to CEOS from big banks…oil companies”
- Source: House Roll Call Vote 545, U.S. House of Representatives, on Final Passage of H.R. 8, August 1, 2012; available at http://clerk.house.gov/evs/2012/roll545.xml The U.S. House of Representatives voted to extend the Bush-era tax cuts to all Americans, including the richest 2 percent.
- H.R. 8 would give people earning over $1 million a year (a typical Fortune 500 CEO) an average tax break of $160,000. National Economic Council, The President’s Proposal to Extend the Middle Class Tax Cuts, July 2012, available at http://www.whitehouse.gov/sites/default/files/uploads/middleclassreport_7_24_2012.pdf
- “Making teachers pay thousands of dollars out-of-pocket for basic school supplies like books and pencils”
- Source: The Philadelphia Inquirer, 9/24/12, Charity website helps Philly teachers get the supplies they need; available at http://articles.philly.com/2012-09-24/news/34062980_1_teachers-supplies-slaughterhouse-five