Friday, October 22, 2004
In an Administration that has been conservative in name only (excepting the intolerant social brand which Bush has embraced), yet another tax-cut/giveaway bill has been signed into law by Uncle Moneybags.
This one is a $136 billion tax-cut bill that is anything but. A true tax cut bill lowers rates, elinimates double-charges and the like without giving away money.
This bill does the following:
- $10.1 billion buyout of quotas held by tobacco farmers
- benefits for native Alaskan whalers, importers of Chinese ceiling fans and NASCAR race track owners
- $76.5 billion in tax relief for the manufacturing sector. Of course, manufacturing is defined so broadly that almost any business qualifies, including architectural firms. Even McDonalds is trying to qualify. So it's not tax relief as much as it is corporate welfare and a massive sham.
- And, of course, the much need tax break for bow and arrow hunters. Now we'll all eat well in the cold months ahead...
Why did all this largess pass? Because it was attached to a bill that had to pass. Bush had to repeal a $5 billion annual subsidy for U.S. exporters that the WTO found illegal. So he did, which is a good thing, b/c corporate welfare is a sham and a waste of our money. But instead of just doing that, he allowed all his cronies in Congress, and their cronies, to attach all this crap. They say they'll save the money through "closing corporate loopholes and tax shelters." But it looks like they created new ones. And the manufacturing giveaway will undoubtedly cost more as more and more companies define themselves as "manufacturers" under the ridiculous new guidelines.
So now it's law. And another $136 billion gets added to the deficit column. In the middle of a war. Hardly conservative, if you ask me.
Small wonder he signed it into law without a ceremony. I wouldn't want to brag about it, either.