Sneaking in Legislation Through the Back Door... :=8(
Don't ferget u can always e-mail the MooCow with cowments at MooCowMoo@aol.com!!!

Well, Baby Bush is at it again. While America is busy arguing over who will become the next leader of the free world, Bush and his cronies have quietly slipped in a new tax bill that amounts to the single largest tax give-away in our country's history - and you know we the people are not getting any of it. Here's the story from USA Today (Thanks John!):

With no fanfare, President Bush on Friday signed the most sweeping rewrite of corporate tax law in nearly two decades, showering $136 billion in new tax breaks on businesses, farmers and other groups.
The election-year measure was described by supporters as critically necessary to aid beleaguered manufacturers who have suffered 2.7 million lost jobs over the past four years.
But opponents charged that the tax package had grown into a massive giveaway that will add to the complexity of the tax system and end up rewarding multinational companies that move jobs overseas.
The original purpose for the legislation was to repeal a $5 billion annual tax break provided to American exporters that was ruled illegal by the Geneva-based World Trade Organization. Repeal of the tax break was needed to lift retaliatory tariffs that are now being imposed on more than 1,600 American manufactured products and farm goods exported to Europe.
The bill replaces the $49.2 billion export tax break with $136 billion in new tax breaks over the next decade for a wide array of groups from farmers, fishermen and bow and arrow hunters to some of America's largest corporations.
The legislation also includes a $10.1 billion buyout of quotas held by tobacco farmers. However, a Senate provision that would have coupled this buyout with regulation of tobacco by the Food and Drug Administration was dropped by the conference committee that ironed out differences between the two chambers.

Well, there really aren't a whole lot of farmers left in America these days; there are even less bow-and-arrow hunters. Cowever, there are a lot of corporate dollars pumped into the Bush/Cheney regime, so we're kinda guessing this is where Baby Bush and the RNC butters its bread. :=8P
Notice too the huge buy-out for Big Tobacco, and how they were able to successfully lobby against any irritating government regulations. Yet an-udder Republican special interest with hands in the President's pockets.
Yessireee, Pork is king in the Land of the Free and the Home of the CEO.
:=8/




- posted by The MooCow @ 6:12 PM