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'Fix the Debt': A Trojan Horse for Corporate Tax Cuts

November 15, 2012 by legitgov

'Fix the Debt': A Trojan Horse for Corporate Tax Cuts 14 Nov 2012 With a $60 million war chest and the blessing of more than 80 CEOs of America's biggest corporations, "Fix the Debt" is passing itself off as a reasoned call for compromise to save the nation from economic disaster. But as this new infographic and a recent study show, the companies behind Fix the Debt stand to gain $134 billion from one of the tax breaks they are promoting. Not just any tax break, mind you, but a new tax incentive for corporations to send U.S. jobs overseas. A new report from the Institute for Policy Studies (ISP) warns that: [Fix the Debt] is a Trojan horse concealing massive corporate tax breaks that would make our debt situation much worse. [It's] a powerful corporate lobby using the deficit as an excuse to sneak through costly corporate tax breaks, while at the same time cutting Social Security, Medicare and Medicaid.

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