When will voters get it: we live in a Corporatocracy!
March 25, 2011
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My blood boiled just a little bit when I read about the idea of a $1.2T tax holiday on foreign earnings. In other words, big multinational companies will reap all of the benefits of this. Small and medium size businesses will be screwed. At a time when unemployment is pretty high, the state governments are in dire straights, this is what they come up with?
I liked this reddit comment:
Man I can’t wait for all that money to trickle down to the middle class, it’s going to be SO GREAT!
Exactly. Reagan would be proud.
UPDATE 3/25/11: an now the news the largest US corporation GE will pay no taxes this year. In fact, they have a $3.2B tax credit.