Most Californians don’t know that there was a huge corporate tax CUT in the recent budget deal. With this huge budget problem requiring tax increases and service cuts for the people of California, they passed a huge tax cut for large corporations.
The Working Families e-activist network sent out an email that included the following:
While Governor Schwarzenegger claims the only way to balance the budget is by slashing funding for education, health care, public safety and other vital services, a handful of large corporations are poised to receive significant tax giveaways which will wind up costing the state nearly $10 billion over the next five years.
. . . Fairness dictates that everyone shares in the pain, and that should include some of the world’s wealthiest corporations. The decision to keep tax loopholes open and make cuts instead is a conscious choice, and it’s one that legislators should be held accountable for making. Before considering additional cuts to programs Californians care so deeply about, the California Legislature needs to act now to shut down these unfair, unnecessary corporate tax giveaways.
Click the link and add your voice to this effort.