More tax breaks for the rich! Way to go Bush.

Well, in a silent cerimony aboard airforce one, Bush signed a sweeping tax break for wealth companies. 136 billion dollar tax break to be exact. Out of this tax break, only 10 billion dollars is aloted for people who actually need it Whats he trying to do? Completly screw the economy befor he looses his job?

Among the beneficiaries: military contractors General Dynamics and Northrup Grumman and some Houston companies that have reincorporated in foreign tax havens.

Yeah, they need the tax break.

And why have a tax break if it wont affect the current deficet?

Though the legislation provides new tax breaks, Congress' Joint Committee on Taxation says it has no impact on the deficit because it also closes corporate tax loopholes and repeals export subsidies.

story.news.yahoo.com.../ap/20041023/ap_on_go_pr_wh/corporate_taxes

[edit on 10/23/04 by Kidfinger]

Notice how Bush, when signing the tax bill a month ago, did it at a public function to milk it for political gain, but now that he is doing what he really wants, which is give breaks to his corporate friends, it's aoll hush hush?

I hope this news gets out there...people need to know this kind of stuff, not just what Bush and crew want people to hear.

Well, I dont think I would want to advertise to the people I work for that I just gave my buddies a couple billion of THIER money. Its time to get rid of him. Bush supporters say his heart is in the right place, well, so are all his friends wallets, apparently

It really makes me wonder why ANYONE would vote for him, except his corporate buddies.

Originally posted by sensfan
It really makes me wonder why ANYONE would vote for him, except his corporate buddies.

Um, we didnt vote him in office last time. He lost the popular vote, and stole the election. So in office, right now, we have a liar and a thief all rolled up in one

the media will not notice this beacuse they are sitting in the same boat as the advertisers that are benefitting from the taxcuts.

Take the airwaves back if you wanna restore your democracy

I'm not entirely sure of why people have a problem with giving tax breaks across the board. Your deficit arguement is debatable according to the article.

Though the legislation provides new tax breaks, Congress' Joint Committee on Taxation says it has no impact on the deficit because it also closes corporate tax loopholes and repeals export subsidies.

This wasn't just for big businesses

President Bush (news - web sites) showered $136 billion in new tax breaks on businesses, farmers and other groups

This is why I'll continue to vote for Bush:

Kerry missed the vote on the corporate tax breaks.

I am more upset by the fact Teresa Heinz Kerry paid less in personal taxes than my brother when she made FAR more than he did. That bothers me MUCH more than Bush giving tax cuts to businesses.

I guess the way you see it depends on how it affects you directly. Bush's tax cuts had a direct impact on the company where my husband works. From my perspective the tax cuts work ... my husband has had 2 raises since Bush was in office and his Company has been able to hire more people. We have been better able to save money, invest money, put our children in extracurricular activities which helps people keep jobs ... Isn't that what Bush is striving for? Help the economy and increase jobs?

Jemison

Honestly, how many of you are going to sit there and deny that you have not benefited from ANY of the tax breaks that Bush has signed into law so far?

How many of you even have a clue if you did or didn't? Do you do your own tax returns? Would you know if you did? I am not wealthy, I am not a big Corporation, I am middle class and I have benefited. In fact, there was one where everyone I know except my wealthiest sister got a break since their income was over the limit.

I work in Accounting, I do my own returns and I keep a spreadsheet that calculates my taxes as the year progresses. I have seen my total taxes due (as estimated from the tax law at the beginning of the year) go down when new tax breaks have been signed into law during Bush's term.

Stop kidding yourselves. The tax situation of the little guy HAS improved with Bush in office (unless there is some major conspiracy that only people who voted for him got the breaks). So unless there is some reason why Major Corporations should never get tax breaks whether we do or not could we please stop spreading this IGNORANCE that every time they do, it is a conspracy against the little guy.

Hi Jemison

My problem with this is he is giving 126 billion dollars in tax cuts to big business and only 10 billion to the farmers, fisherman, bow hunters(?).

He is lining the pockets agian, of the people who dont need it, instead of putting it into education, or healthcare. These large corporations dont need tax breaks. Why does anyone have a need for more than 20 million dollars? Every CEO of mentioned companies, have alot more than 20 million dollars. It makes me angry to think how that would have affected the education and healthcare sector for the better if he would have given the tax breaks to them. He is giving money to people who dont deserve it, or need it.

Should he really be giving out tax breaks at all when the US is running a record budget deficit?

What is this clown doing?

Relentless:

Stop kidding yourselves. The tax situation of the little guy HAS improved with Bush in office (unless there is some major conspiracy that only people who voted for him got the breaks). So unless there is some reason why Major Corporations should never get tax breaks whether we do or not could we please stop spreading this IGNORANCE that every time they do, it is a conspracy against the little guy.

Im not even going to dignify the above whining, as it is very childish. I will however address other issues with your reply.

How many of you even have a clue if you did or didn't? Do you do your own tax returns? Would you know if you did? I am not wealthy, I am not a big Corporation, I am middle class and I have benefited.

I have done my taxes for 12 years. I have noticed a SMALL increase in child credit, and a SMALL decrease in the marriage penalty. Neither of these benifites amounted to more that $100 to my tax returns. As a matter of fact, I paid MORE taxes last year, and made about 4000 dollars less on my yearly gross!

Of course you benifited, we all got the $600 and $350 bribery checks in the mail.
I posted this because I am VERY familliar with my tax situation. Apparently, if you are doing your own taxes, and benifiting so much, you are about to get a knock on the door from the IRS for back owed taxes. Either that, or you are in the upper middle class tax bracket, which allows you to take advantage of SOME of the perks that Bush has passed for those with money. As you start getting closer to upperclass brackets, You will find there are so many leagal ways of hiding your money, that you will NEVER be taxed for most of it. Thats fair

[edit on 10/23/04 by Kidfinger]

Chris McGee, bush is managing our country the same way he managed his failed business he is going to run us the regular doe out of buisness. He has sold US and its people to big corporations.

Never before a president has benefited the whealthy and big buisness like bush has done, they will buy the elections for him and they will make sure he wins, bush is good for business, occurs if you are a close (friend) and business partner of cheney and bush family.

Originally posted by marg6043
Never before a president has benefited the whealthy and big buisness like bush has done, they will buy the elections for him and they will make sure he wins, bush is good for business, occurs if you are a close (friend) and business partner of cheney and bush family.

I agree completly. I also happen to think that this is the exact reason he gave the tax cuts. He is now seeing the power of John Kerry's performance and is worried about his job. He signed this tax break in order to be sure his vote is bought and his re-election is secured. Thats why you wont herar much about it. There was no announcement, no celibration. He didnt even do it on the ground! He HID in his airplane(real brave!)and signed the tax break so it couldnt be contested. He is BACKSTABBING this country!

It's the usual tiresome and predictable crap - the world over - with these kind of clowns.

Tax breaks = welfare for the already wealthy and priviledged.

The wealthy (for some unspecified reason) need incentive (for some other unspecified reason they respond so well to this) whilst everyone else gets ever harsher coercion (because for another unspecified reason we respond appallingly without a touch of 'the lash').

Naturally a few scraps are thrown to the gullible who see this as 'proof' that the party xyz gives a crap about them.

Allowing these dangerous fools to play this idiotic 'forever lowering the ultra wealthy's & corporate taxes' auction - especially under the guise of helping the 'ordinary Joe' - is merely damaging the developed countries around the globe.

Clearly there are points where this is necessary and obviously there is a point where it is extremely stupid and harmful. (No one denies this, it's a self evident truth.)

Given the levels of US debt I'd say the latter applies.

How much tax are the biggest corporations and wealthiest individuals paying?

.....but if you wish to carry on the fantasy and self-delusion that this really has much of anything to do with 'the working man' or 'the middle class' feel free.

Originally posted by Kidfinger

Relentless:

Stop kidding yourselves. The tax situation of the little guy HAS improved with Bush in office (unless there is some major conspiracy that only people who voted for him got the breaks). So unless there is some reason why Major Corporations should never get tax breaks whether we do or not could we please stop spreading this IGNORANCE that every time they do, it is a conspracy against the little guy.

Im not even going to dignify the above whining, as it is very childish. I will however address other issues with your reply.

Wow! I actually stopped myself from using the word whining when referrring to your posts, and I fail to see how mine is whining and childish?

Apparently, if you are doing your own taxes, and benifiting so much, you are about to get a knock on the door from the IRS for back owed taxes. Either that, or you are in the upper middle class tax bracket, which allows you to take advantage of SOME of the perks that Bush has passed for those with money. As you start getting closer to upperclass brackets, You will find there are so many leagal ways of hiding your money, that you will NEVER be taxed for most of it. Thats fair

[edit on 10/23/04 by Kidfinger]

None of the above is true. I do not have children so I didn't even get that one. I have no extraordinary schedules or tax deductions that the rest of the country wouldn't recognize. Sorry to disappoint (or be so childish).

I addition, the small business I work for is thriving under Bush, raises, increased hiring, etc.

I think the tone of your post is off base and exposes what propmts me to ask - WHAT IS YOUR PROBLEM?

[ WHAT IS YOUR PROBLEM?]

MY PROBLEM IS WE ARE RUNNING OUT OF WHIP CREAM AND CHERRIES

Seriously, I have a problem with Bush giving my money away where it doesnt need to be given. He is for supporting the big man and stepping on the little man. He tries to make things sound better by twisting the truth. Example. He states that he has added X amount of jobs to the economy, but these jobs for the most part are minimum wage jobs that people will have to work 2 of just to survive! Which brings me to another example. He says enemployment is down, when in all actuallity, people who were on unemploment couldnt find a decent job, and LOST thier unemployment. It didnt dwindle, it is still there, people just ar'nt getting the unemployment benifits anymore. And now we have him feeding the gloutenous bank accounts of big corporations instead of helping the american people. His heart might be in the right place, but his head is up his a55. One more thing, as mentioned a few times already, we have a record national deficet, so why is he giving tax breaks, especially if they will not help our current national economic situation?

Originally posted by Relentless
Honestly, how many of you are going to sit there and deny that you have not benefited from ANY of the tax breaks that Bush has signed into law so far?

How many of you even have a clue if you did or didn't? Do you do your own tax returns? Would you know if you did? I am not wealthy, I am not a big Corporation, I am middle class and I have benefited. In fact, there was one where everyone I know except my wealthiest sister got a break since their income was over the limit.

I work in Accounting, I do my own returns and I keep a spreadsheet that calculates my taxes as the year progresses. I have seen my total taxes due (as estimated from the tax law at the beginning of the year) go down when new tax breaks have been signed into law during Bush's term.

Stop kidding yourselves. The tax situation of the little guy HAS improved with Bush in office (unless there is some major conspiracy that only people who voted for him got the breaks).

So unless there is some reason why Major Corporations should never get tax breaks whether we do or not could we please stop spreading this IGNORANCE that every time they do, it is a conspracy against the little guy.

I can honestly claim that I do not benifit from the hundreds of billions of dollars handed out in tax breaks to Billion Dollar Companies. Why??? Because I simply do not make enough money to pay taxes. GO BUSH

He is lining the pockets agian, of the people who dont need it, instead of putting it into education, or healthcare.

I have 2 daughters in public elementary school. One of them is dyslexic and the school district is giving her the extra helps she needs. She was diagnosed, through the school in Kindergarten!!! 5 years ago a child being assessed for a learning disorder in Kindergarten would have been unheard of or the definite exception to the rule. It has always been that a child has to struggle until 3rd grade before the school district will spend the time and money to do an assessment. Bush has changed that and I have seen first hand that it helps.

As for funding education, Bush has funded his NCLB. He might not have given the maximum amount but he gave an amount that many experts felt was sufficient. I have a problem with people saying we need more money in education when I see the waste that goes on at schools. Last year my daughter was frustrated because she LOVED homework and wasn't getting enough of it. I asked the teacher what books I could purchase to give my daughter extra work. She GAVE me 3 text books that were brand new that the school won't use because there is a lot of 'fluff' in them. She said that every year they have an entire storage room filled with books for every grade level that are purchased and never used because they do not cover what the schools are required to teach. She has been a teacher for 10 years and this has been going on since before she started teaching so it cannot be blamed on Bush.

I live in California so it could just be a state issue. IMHO, until the schools stop wasting money on things like text books that are going to sit in storage, they shouldn't get any additional money.

In regard to healthcare, I'm not sure how you want Bush to put money into it. Kerry's plan won't work. My family currently has the plan that Kerry is offering to individuals. My husbands company pays half of his premium but nothing for me or our 4 children. Therefor it's costing us $700 a month to have coverage for the entire family which is taken out of my husbands paychecks. That is not going to help an individual who is unemployed or who is low income. Kerry does not have control over the Insurance companies and the premiums that they charge which is what is standing in the way of most people purchasing private insurance. And his plan will only increase healthcare coverage by 7%, it will not cover ALL Americans.

I think that the best way to put money into healthcare is to give tax breaks to companies that pay premiums for their employees. I believe both Bush and Kerry want to do that but I could be wrong.

He is giving money to people who dont deserve it, or need it.

I don't think it's fair to say that those people don't deserve a tax break. Just because someone is wealthy does not mean that they should have to pay 90% of their income in taxes. And we are talking about a business tax break, not a personal one.

I think that people have a misconception about CEO's being greedy. Look at Oprah Winfrey and Bill Gates. Do you think they are greedy? Look at how much they have donated and given back to society. There are more CEO's that use their personal money to make donations and give to the community than there are Ken Lays. They just don't make the front page of the paper.

All of our opinions are based on our life experiences and those formed our perspective on things. My Father was a CEO and I saw firsthand how he did things and 'greedy' was not an adjective that could ever be used to describe him. He taught me that it is far better to use the money you earn to help others on a personal level than to hand it over to the government and have them help others for you. Think about it, what costs more ... having the government pass out welfare to a family of 5 or giving the money directly to the family and not having to pay for the red tape along the way? And on a personal level, what counts more? A family getting a welfare check from a faceless government or a family getting help from someone in the community who can tell them face to face that they are valuable people and that they have something to offer?

There is too much governmental waste going on. If you want to tax wealthy people more money simply because they are wealthy you really need to think about the fact that those same people could be doing much more good with their money if it was theirs to hand out rather than turn it over to the Government to hand out.

That's my opinion on these things and it's based on my first hand experience. I know we all have our own experiences that help form our opinions and none of us will always see eye to eye on the issues but we all need to remember that there are 3 sides to every story.

Jemison

That's my opinion on these things and it's based on my first hand experience. I know we all have our own experiences that help form our opinions and none of us will always see eye to eye on the issues but we all need to remember that there are 3 sides to every story.

Jemison

As always, words of wisdom to soothe the savage beast.
I agree that there is more than 1 side to the story, but this still does not explain why he is giving tax breaks to these large money making companies when we have such a defecit. The bottom line is, if he would increase thier tax rate by 8%, and leave it for longer than 2 years, we would be out of debt in 5 years. Instead, his actions appear to me that he is only enlarging the financial burden on the shoulders of the US economy. A tax break for these companies is not what we need right now.

I would prefer if we cut out Government waste and see how much we saved that way before increasing taxes. I'm trying to figure out how you can be so infuriated with Bush for lowering taxes when Kerry got a full salary for working less than 13% of the time. Don't you think that's a bit silly? Would you get paid for working that litte? Probably not. You would either have your salary docked or you would have been fired. And aren't the Senator's salaries tax free? How many perks do you think they give themselves with our tax money? Get rid of that sort of waste and all the other junk that our tax money is going toward and if that doesn't help then we can talk about raising taxes.

Jemison