The Rich Get Richer, The Poor...
Promoted as an economic 'stimulus' plan, the tax-cut bill the
House passed last week would be more aptly called a War
Profiteering package for wealthy corporations.
The Senate is now debating H. R. 3090 with controversial section 103 that calls for the Repeal of the Alternative Minimum tax. The latter is a law that 'requires hugely profitable companies to pay at least some tax, no matter how many loopholes they can find,' writes Wes Boyd, in an action alert newsletter for MoveOn.org.
Not only would corporations no longer have to pay at least some tax, writes Boyd, but the repeal is retroactive for the last 15 years. That means that, among others, IBM would get $1.4 billion, General Motors gets $833 million, and General Electric would get $671 million.
To take action on this blatant example of war profiteering, take a look at the following list of resources.
-- Sara V. Buckwitz
Find out more about War Profiteering and email your senator,
Campaign for America's Future
Find out how to put a banner up on your site to stop the War Profiteering at Campaign for America's Future.
Library of Congress
Look up current legislative actions online,
Citizens for Tax Justice
A nonpartisan, nonprofit research and advocacy organization
dedicated to fair taxation at the federal, state, and local levels.