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Friday, July 27, 2007

More Corporate Welfare

The major U.S. corporations screw up the capital markets driving up the cost of capital, and now Greenspan wants even further tax cuts to reward their greed and boost their profits. Unbelievable:

The US needs to reduce corporate tax rates to prevent business profits from being squeezed by the rising cost of raising finance through debt and equities, Alan Greenspan, former Federal Reserve chairman, warned on Thursday

“My own view is that the cost of capital is not going to stay down,” he said. “And as it goes up, the top corporate [tax] rate of 35 per cent begins to press.”

There is simply no limit to the greed of these people. They've already driven the middle class into the ground as they walk on top of them. Now they want still more, but where will it come from? Children's health care - who needs that? Care for the aged? Let them die. After all, they're going to die sooner or later anyway. Job security for the working class? What's that for? Workers are to work until we say they're expendable.

Why am I reminded of Marie Antoinette when she said, "If they don't have bread, let them eat cake?" Why doe the word "revolution" come more and more frequently to mind?


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