7061 East Pleasant Valley Road, Independence, Ohio 44131 • (216) 241-2630 / Fax: (216) 241-6516

Membership
Benefits
News and Issues
Departments
Information
Secretary-Treasurer
Merchandise
Communications
FELA
Events
Links
User Info

Opinion: Tax scams

(The following editorial by Jim Hightower was posted on the Seattle Press website on February 13.)

SEATTLE -- George W is pushing his latest tax giveaway to the superrich as an "economic stimulus."

Well, I'd be "stimulated," too, if I was going to get $16,000 out of the deal. That's how much Bush himself would gain. Or how about Dick Cheney, who'd get $104,000 under this scam?

Meanwhile, there's an even richer group that's lined up to get more special tax giveaways from George: corporations. Talk about your tax dodgers! Corporations already enjoy more government subsidies and benefits than people do, yet they pay the least in taxes. Forget the basic corporate tax rate of 35 percent, these outfits have hordes of lobbyists, lawyers, and accountants to "Enron the system," creating loopholes and tax gimmicks that whittle their formal tax log down to a toothpick ... or less.

For example, there's the scandalous (but still legal) tax dodge known as the Bermuda Loophole. It lets corporate sharpies pretend to be headquartered offshore, even though they're physically right here in the USA. Bottom line is that they can use Bermuda to escape paying their taxes to the Red, White, and Blue!

Here's my thought on this scam. I say that all CEOs playing the anti-American Bermuda card have to wear Bermuda shorts everywhere they go so we regular taxpayers can know who they are, grab 'em on the streets, and give them noogies.

Speaking of corporate moochers, guess who's one of the slickest? John Snow! Yes, Bush's new treasury secretary, the guy who's now in charge of our nation's tax policy. Snow had headed CSX Corporation and had lept through so many loopholes that in three of the past four years, CSX paid zero in federal income taxes, even though it had banked nearly a billion dollars in profit. Even trickier, CSX got $164 million in tax rebates during those years.

To fight these scams, contact Citizens for Tax Justice at: 202-626-3780.

Thursday, February 13, 2003

Like us on Facebook at
Facebook.com/BLETNational

Sign up for BLET News Flash Alerts

© 1997-2018 Brotherhood of Locomotive Engineers and Trainmen

 


Decertification Helpline
(216) 694-0240

ND Officers Election Rules

Sign up for BLET
News Flash Alerts

DAILY HEADLINES

TCRC gives 72-hour strike notice at CP Rail
CSX 1Q 2018 profit jumps to $695 million
CSX releases 1Q 2018 results
Transcript of CSX 1Q 2018 conference call
New report suggests LIRR, NJ Transit and Metro-North should be combined into one rail system
California high-speed rail underestimated cost of relocating utility lines beneath Fresno
Manchin, Jenkins report productive meeting with Amtrak
RRB Q&A: Comparison of benefits under Railroad Retirement and Social Security
Get the latest labor news from the Teamsters

More Headlines