Yikes - this latest tax bill, approved by your Republican Congress and president is just appalling. Read about the whole thing. This provides the setting:
The story began nearly three years ago, with an initial impetus simply to replace a $5 billion annual tax break for American exporters that the World Trade Organization had ruled was illegal. It ended this week with a 633-page behemoth that offers new tax giveaways to everyone from corporate titans like Boeing and Hewlett-Packard to an array of oil and gas producers, shopping mall developers, wine distributors, even restaurants. Many companies, like General Electric and Dell, are likely to end up with far more tax relief under the new bill than they had ever received from the old tax break. Some, like Exxon Mobil, never qualified for the old tax break at all but will enjoy tax savings now.Posted by armand at October 13, 2004 12:37 PM | TrackBack | Posted to Politics