Letter to the editor- Patriotism used by rich
South Lake Tahoe
Didn’t I tell you a year ago the capital gains tax would be the next to go?
While the rest of us are trying to put our lives back together after the tragic events of September 11, the wealthy and corporations are busy in Washington getting more tax breaks. On 9/11 it was reported House Republicans are proposing an “economic stimulus” packing that is mostly new tax breaks for business and a reduction in the capital gains tax. (This is the tax on gains made in the stock market). It was already reduced last year, but as with the inheritance tax, Republicans in Washington are bent on eliminating it. This will not stimulate the economy and only contributes to the ever-growing concentration of wealth in this country in the hands of the few.
All this, while the average citizen is asked to be patient and patriotic!
I also find it ironic that Congress has failed for years to pass important legislation for the people, such as a national health insurance plan, but took only a few days to give $5 billion dollars cash (your money), to the airline industry. They, in turn, fire over 100,000 employees and cut service. How many airline CEO’s have taken pay cuts or given up their salaries this year to help?. These are the same guys who screamed for years to be deregulated and let the free market govern air travel. They have spent millions opposing stricter safety and security regulations. Then when they run into trouble, these “free-marketeers” come crying to the taxpayers for a bailout. Actor Tim Robbins said it best a few months ago, “American corporations are capitalists when they’re making money and socialists when they’re losing money”!
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