Friday :: Jul 27, 2007

Greenspan Wants Another Corporate Raid On Treasury


by Steve

Mr. Andrea Mitchell tells a room full of Bushies and Wall Street types that after years of getting tax cuts from the Bush Administration, Corporate America needs another major tax cut. He says that the American treasury and therefore the American taxpayers need to give Corporate America even more tax cuts to maintain the fat bottom lines of Corporate America against the increasing costs of capital and financing facing Corporate America; costs that have increased in large part to Corporate America’s own behavior and risk-taking over the Bush years. These fat bottom lines that Mr. Andrea Mitchell wants to protect and these cash reserves accumulated by Corporate America during the Bush years with Mr. Andrea Mitchell’s full blessing weren’t used largely to invest in American workers or American productivity, but rather to take their companies private or to buy out competitors. And it was all done under the nose of Mr. Andrea Mitchell, as were the growth of hedge funds and the sub prime mortgage market, two contributors to the capital crunch facing Corporate America, which Mr. Andrea Mitchell wants the American taxpayer to shield Corporate America from with another tax cut.

Mr. Andrea Mitchell wants the Bush Administration to cut corporate taxes before it leaves office and before the wave of economic populism (read: tax fairness) takes further root in this country, demonstrating how out of touch politically Mr. Andrea Mitchell has become as we head into the 2008 election. He wants corporate taxes cut before such a cut is rendered impossible by the needs of the baby boomer population, which is just another manifestation of how Mr. Andrea Mitchell places the needs of Wall Street ahead of Main Street. And of course deficit hawk Mr. Andrea Mitchell doesn’t say where the money will come from to pay for another corporate tax cut, nor does he justify why more money needs to be taken from the American treasury to reward Corporate America for its own behavior which has now driven up its own costs of capital, funding activities that haven’t benefited the average American worker at all. All Mr. Andrea Mitchell cares about is that the 25% approval-rated Bush Administration gives one more tax handout to Wall Street at the expense of everyday Americans.

Steve :: 12:02 PM :: Comments (27) :: Digg It!