Opposition To Closing Tax Loopholes: Really?

05May09

Maybe the Democrats that are opposing this are showing us a bit of their true colors with this opposition.

May 5 (Bloomberg) — President Barack Obama’s plan to end tax breaks for U.S.-based multinational companies drew a skeptical response from fellow Democrats on Capitol Hill, indicating that his plan may face obstacles on its path through Congress.

Senate Finance Committee Chairman Max Baucus, a Montana Democrat, called for “further study” of Obama’s proposals within minutes of the president’s announcement yesterday. Representative Joseph Crowley, a Democrat on the tax-writing House Ways and Means Committee, said he’s wary because the tax changes would hurt Citigroup Inc., his New York district’s largest private-sector employer. …

Of course it would hurt Citigroup because it would take a bunch of it’s profits away.  Also, if they wont allow Obama to take the necessary steps here, what happens when it comes to taking the very necessary steps of breaking up monopolies and trusts? Citigroup is definitely one of those companies that are too large.

These Democrats need to be careful. By opposing Obama here they are siding with the corporations and not the people of the US.  The question we need to ask ourselves is – how much different from the Republicans are these Dems?  They aren’t as extreme to be sure, but they sure like a lot of the same people.

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