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Recently,The President became aware of the economic crisis in the United States.His solution...an extension of tax cuts to major corporations,which had been initiated in 2001 and 2003.
Here is what these corporations have done with their tax cuts:
-Since 2001,an estimated 830,000 white collar and 2.8 million manufacturing jobs have been sent overseas
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-while corporate profits increased since 2001,that profit was not seen by the workers.The average CEO of a Fortune 500 company made 15 million dollars,and robbed the company treasury with stock options and " Golden Parachutes".
-Current laws allow companies to indefinitely defer paying taxes on overseas income, while deducting much of their moving expenses when they send jobs overseas.
-Many companies that send jobs overseas get tax breaks. If the United States taxed these companies, we'd generate an additional $7 billion to $12 billion in taxes. Lawmakers could give tax breaks to companies that keep jobs here in the United States.
-The salaries of the middle-class workers of these companies have not risen propotionately,and have indeed decreased,along with benefits and healthcare coverage.
Do most logical adults think a one-time $800 check will solve the National budget crisis?Many Americans are now working two and three jobs to keep up with the escalating price of food,energy and healthcare.Our Federal Reserve has pumped hundreds of billions of dollars into the finacial system,and the Prime Rate can only go so low.Six years of tax cuts have left us with a huge budget deficit and a crumpling infrastructure thanks to disappearing programs.This crisis didn't happen overnight.It is the end result of 6 years of a selfish administration and their corporate contributors.When you go to the polls soon,do yourself a favor and educate yourself on the voting records of your candidates.Which ones have favored the corporations,while harming the consumer?When you run out of consumers,all you have left are the 1% who could care less.
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