Oct 25, 2004
Without much fanfare, the U.S. Congress just passed a new law giving corporations 210 billion dollars in tax breaks over the next ten years.
The law was passed with the votes of both Republicans and the Democrats. In the House of Representatives, where the Republicans couldn't muster enough of their own votes to pass it by themselves, 73 Democrats joined them. In the Senate, only 14 of the 48 Democrats voted against this major handout to the corporations.
Of course this new massive tax break to the corporations can only mean more taxes for ordinary people (whether in Social Security and Medicare taxes, or state and local taxes). And it will mean further cuts in the public services and social programs working people depend on – not to mention further cuts in money for the schools.
This grab-bag for the corporations and the wealthy people who control them was passed just two weeks before the election – showing the arrogance of both parties who think they can openly screw us – and still get us to vote for them!
They have another "think" coming!