 |
[credit: Lee Judge, Kansas City Star]
Wackydoodle axes: But can he do the math? |
A new report out tells us what we already know: the
plutocrats are getting richer faster than ever. They hang on to their riches by stashing it offshore*;
Their lackeys in Congress are standing in line to help them bring it home tax free. Seventy-three of the 'people's representatives' from both parties are co-sponsors of a bill to give cash cow
corporations another tax holiday. The proposal would cost the Treasury $40-80 billion in revenue. Of course these tax
scofflaws are selling the measure as a way to create jobs, but the last tax holiday granted the corporatists in 2004 ended up a giveaway to corporate shareholders and executives. That tax break allowed U.S. firms to bring home billions in offshore profits at a tax rate of 5.25%. Its time to
tax speculators and dodgers, not reward them. The tax holiday proposal shows how deep in the plutocracy's pocket our so-called representatives really are.
*havens include Netherlands, Switzerland, Bermuda, Ireland, Luxembourg, Cayman and British Virgin Islands.
