Since the start, this Republican administration has been all about protecting corporate interests, regardless of how that affects the rest of the country. It looks like Bush will continue to do that as long as he is president.
Democrats are trying to craft a new energy bill. Among the proposals in that bill, are a provision that would cost the big oil companies $16 billion in taxes by exempting them from a scheduled rollback in corporate taxes, and another that would require investor-owned utility companies to generate 15% of their electricity from renewable sources by the year 2020.
Both of these proposals make a lot of sense. All of the big oil companies have reported record windfall profits this year. Why would they need a further rollback of taxes when they are already experiencing record profits? That would seem to be the time to impose new taxes, not rollback the existing ones.
As for using 15% renewable energy sources by 2020, that seems like a very modest demand of utility companies. But Bush is opposed to both proposals. According to National Economic Council director Allan Hubbard, the White House is ready to veto any energy bill that contains either of these proposals.
Come to think of it, why should the taxes on any corporations be rolled back right now? Hasn't the administration been telling us what a wonderful economy we are experiencing? If the economy is so good, why should we make our huge deficit even larger by cutting corporate taxes?
The middle and working classes are the ones who really need a tax cut -- not the corporations. While the common man has been suffering in this "great economy" because of stagnant wages and job outsourcing, the corporations are doing better than they have in decades. Yet Bush wants to give even more money to the corporate fat-cats.
Can there be any remaining doubt that Republicans are in the pocket of wealthy corporate interests? Bush will probably veto the Democrats' energy bill, just like he vetoed healthcare for children. That's because he and his Republican followers only care about the rich.
That is why the next election is so important. Big oil and other corporate fat-cats don't need protection, but ordinary citizens do. And the only party that will help the little man is the Democratic Party.
We need to remember that when we step into the voting booth next year.
You make some great points. I agree that we need to make sure that Congress puts a bill on Bush's desk, despite his threat of a veto, that includes new fuel efficiency standards and a renewable electricity standard.
ReplyDeleteBoth of these provisions have many benefits to the American economy and environment.
I am working for a coalition working towards making sure a strong energy bill is passed. To learn more or to sign our petition go to Energy Bill
Thanks,
Saul