NYT: House Leaders Are Pushing To Cut Corporate Taxes

[CShine]

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?ex=1068177600&en=400daa8e651fd210&ei=5004&partner=UNTD

[LittleApple81]

1. I cannot believe the gall of these people. And I am sure they

will get away with it.
Shame!

[ikojo]

3. I am also sure there will be more than a few

Democrats who vote along with the Republicans to reduce corporate taxes.

After all the corporate class gives money to both parties to hedge their bets. Both parties are bought and paid for and thus beholden. Gotta dance with those that brung ya.

[salin]

2. Republicans = The Party of Fiscal Irresponsibility.

bankrupting the government - one bill at a time.

[DoYouEverWonder]

4. Who needs a tax cut

In the Bu$h economy, profits are way down already and you don't have to pay much in corporate taxes if you don't make a profit.

[leesa]

5. They don't PAY taxes! Corporations are so rich already they could employ

every single person in this country and not even feel it. These rotten thugs are all money addicts...can never get enough.

[dusty64]

6. This ought to go over

about as well as their pay raises. With a VERY few exceptions, KICK THESE ROTTEN BUMS OUT!

[w4rma]

7. Hello Argentina.

http://www.cmonitor.com/stories/news/local2003/0706_dean_2003.shtml