View Full Version : Bush signs corporate tax bill. John Kerry/John McCain protest

22nd October 04, 06:36 PM
President Bush today signed a massive $140 billion corprate tax bill. He did a good job of hiding it so the public wont relly get to protest much. Luckily John McCain is speaking out against it calling it ""the worst example of the influence of special interests that I have ever seen."

Bush signed the measure into law aboard Air Force One en route to a campaign rally in Pennsylvania, forgoing a public signing ceremony that would have attracted attention to the tax cuts less than two weeks before Election Day.

The White House had marked the signing of Bush's other major tax bills with lavish public ceremonies. This one was marked with a one-paragraph statement by the press secretary.

Asked why there was no signing ceremony for the corporate tax bill, White House spokeswoman Claire Buchan said: "There are a variety of ways the president signs legislation."

Keep it under wraps and they can't complain.

The bill includes a $10 billion industry-financed buyout for tobacco farmers.

The bill also includes tax breaks for U.S. multinational companies, some of which critics say will encourage companies to ship jobs overseas.

A one-year tax holiday for multinationals was included that will allow them to return billions of dollars in profits to the United States at a dramatically lower 5.25 percent rate instead of the normal 35 percent top corporate rate.


22nd October 04, 10:04 PM
my dad lobbied for part of that :-D. At leat his part is completely reasonable, it just gives REIT's the same rights that stocks have (aren't taxed if bought form overseas, penalties instead of autiomatic revocation of liscnece, etc).

That being said, a lot of it is pretty shitty