House Leaders Are Pushing to Cut Corporate Taxes

[Snellius]

WASHINGTON, Oct. 23 — House Republican leaders are nearing agreement on a bill to give nearly $60 billion in additional tax breaks to corporations, brushing aside Democratic complaints that the measure would deepen the federal budget deficit.

According to a draft circulated among Republican lawyers, the bill, which is expected to come up for a vote next week at the House Ways and Means Committee, would gradually reduce the corporate tax rate for most companies from 35 to 32 percent.

It would also relax or abolish a number of longstanding tax regulations on foreign profits of American multinationals, a move that Congressional tax analysts say could save companies more than $40 billion in taxes over the next decade.

The intended beneficiaries are companies that manufacture products in the United States and small businesses. But the definition of manufacturing includes movies, software, oil and gas refining and engineering services. That means the beneficiaries would also include Time Warner, Disney, Microsoft and giant engineering companies like Bechtel and Fluor.

http://www.nytimes.com/2003/10/24/business/24TAX.html

[denverbill]

1. Fine, let them pass the damn thing.

Then Democrats can air ads all next year talking about how the same corporations that got all these tax cuts shipped good American jobs overseas. I'd love to see that all year long.

[RobertSeattle]

2. Slightly misleading heading

REPUBLICAN leaders

What utter bankruptcy of ideas on the part of Republicans - it's just tax cuts tax cuts tax cuts.

And watch out when Republicans say they are doing something for "small business" - most of the benefits probably go the big business. My BS detector goes off when people say something is "for the children" as well.

[Jackpine Radical]

4. Sadly, that's redundant.

The House leaders ARE Repugs. As are the leaders of the Senate.

[Jackpine Radical]

3. Welcome to the looking glass world...

Lewis Carroll would be proud of these Republican deep thinkers. I wonder if any of them actually believe their won propaganda about the economic and social enefits of tax cuts, or if they actually know what cynical, destructive bastards they really are.

[aquart]

5. Republicans are good for business. Everyone knows that.

Business doesn't seem to be doing too good for Americans however.

[Voltaire99]

6. Fascism 101

Once federal government is reduced to nothing more than military spending and rightwing Christian hectoring, the nation can come even more fully under corporate rule.

For the Repugs, this is good timing. They can go into the election year lying that they promote job growth by cutting (already anemic) corporate taxes.

And what are the Democrats, their hands deep in corporate pockets, going to do about this, pray tell?

[jab105]

7. Holy crap!

It's like, how deep of a hole can we dig!?!?

[tom_paine]

8. Amerika cannot return to Imperial Feudalism with Enlightenment

style government.

They just want to "drown government in a bathtub".

And all progress since the 17th Century along with it.