Petition Target: Members of Congress
Urge the Senate to deny the appeal of the Alternative Minimum Tax, which would allow hugely profitable corporations (GE, GM, IBM, etc.) to escape paying taxes. This would result in over 12 billion loss in revenue next year alone. AND the corporations would receive 15 years of retroactive rebates under this repeal! This means that $25 billion would be handed out - $1.4 billion to IBM, $833 million to GM, $671 million to GE, and so on.
The Senate is also considering a measure to allow corporations to store their profits overseas as a tax shelter. This would send money OUT of the U.S. economy. It's backwards. It's illogical. It just doesn't make good economic sense.
A real economic stimulus package, not like the one passed by the house on October 25, would put more money in the hands of everyday people who need it most. That means decent unemployment benefits and health insurance to the hundreds of thousands of Americans who have lost their jobs or been displaced since September 11.
Helping people would make economic sense. Giving billions in tax breaks to America's biggest corporations doesn't.
Please visit our site (http://www.ourfuture.org) so your message can be sent directly, via a free fax, to the Senator representing your state!
Petition Target: Members of Congress
I urge you to oppose the $70 billion tax giveaway to America's biggest corporations contained in the "economic stimulus" bill passed by the House.
By retroactively repealing the alternative minimum tax, the House bill would provide massive rebate checks to many of America's biggest companies, including $1.4 billion for IBM, $833 million for GM, and $254 million for Enron.
It would also allow corporations to continue to store their profits overseas as a tax shelter. This would send money OUT of the U.S. economy. It's backwards.
A real stimulus would put more money in the hands of everyday people who need it most. That means decent unemployment benefits and health insurance to the hundreds of thousands of Americans who have lost their jobs or been displaced since September 11.
Helping people would make economic sense. Giving billions in tax breaks to America's biggest corporations doesn't.
Sincerely,
The undersigned
Note: Stop Corporate Profiteering During Our Troubled Times! petition was submitted by the Institute for America’s Future.
