And the Band Plays On
The looting of the US Treasury continues unabated with the latest corporate giveaway passed by the Senate on Monday. (69 Yeas, 17 Nays, 1 Present and 13 AWOL) This time we are giving corporations another $137 billion in tax cuts that are expected to be somewhat offset by $60 billion in crackdowns and punishment of bad corporate “citizens.” Guess our Congress can’t add and subtract none too good because that still costs us $77 billion. If anybody wants to wager that the tax benefits will only cost $137 billion and the increased revenues will generate $60 billion, I’ll be happy to take you up on it – that $77 billion net cost figure is before the corporate accountants have worked their voodoo on the provisions in the bill.
$77 billion – the silence on this at the national level is deafening. This is as large as the first $80 billion appropriation to destroy Iraq. This one began as a modest $5 billion giveaway – but when it comes to the public’s money the Republicans act like drunken sailors as all their crony capitalists quickly bellied up to the feeding trough. Only this time, they had plenty of company from Democrats joining in to pass out some of the spoils to their benefactors as well. What little goodies did they get this time?
As Edmund L. Andrews in the NYT reports:
1. “…10 billion buyout program for tobacco farmers.”
2. “…$42 billion worth of tax reductions on the foreign earnings of companies based in the United States.”
3. “…fresh benefits to companies like Exxon Mobil and BP Amoco, as well as electric companies.”
4. Zell Miller also wrangled a credit for Home Depot to import ceiling fans from China.
Andrews goes on to say: “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.”
If you’re interested in how your Senators voted, if they are GOP and not on the following lists they voted “Yea.”
Grouped By Vote Position
Baucus (D-MT) Bayh (D-IN) Bingaman (D-NM) Breaux (D-LA) Cantwell (D-WA)Clinton (D-NY) Conrad (D-ND) Daschle (D-SD) Dayton (D-MN) Feingold (D-WI)Harkin (D-IA) Inouye (D-HI) Jeffords (I-VT) Johnson (D-SD) Landrieu (D-LA)Lieberman (D-CT) Lincoln (D-AR) Mikulski (D-MD) Murray (D-WA) Nelson (D-FL)Nelson (D-NE) Pryor (D-AR) Reid (D-NV) Schumer (D-NY) Stabenow (D-MI)Wyden (D-OR)
Akaka (D-HI) Biden (D-DE) Boxer (D-CA) Byrd (D-WV) Carper (D-DE) Collins (R-ME) Corzine (D-NJ) DeWine (R-OH) Dodd (D-CT) Durbin (D-IL) Feinstein (D-CA) Gregg (R-NH) Kennedy (D-MA) Levin (D-MI) Reed (D-RI) Rockefeller (D-WV)Sarbanes (D-MD)
Present - 1
Not Voting - 13
Campbell (R-CO) Chambliss (R-GA) Dorgan (D-ND) Edwards (D-NC) Graham (D-FL) Hollings (D-SC) Kerry (D-MA) Lautenberg (D-NJ) Leahy (D-VT) McCain (R-AZ) Miller (D-GA) Specter (R-PA) Sununu (R-NH)
A whole lot of DEM Senators have to go if this country is to be governed by and of the people and not by and of the corporations. And Yea, Boxer and Feinstein for showing up and voting Nay.