In an earlier post, McCain’s Lobbyists- An Interactive Guide, I linked to a site that shows how much money John McCain has accepted from lobbyists. Americans seem to be rather tolerant of having corporations and private interests run our government. This is most obvious in tax-related issues, where voters have passively accepted George Bush’s numerous tax cuts for the richest members of the population (some applied to only the .1% of the richest people in the U.S.)
A recent article from ThinkProgress shows that McCain will carry on that legacy. From Top CEOs Give 10 Times More To McCain Than Obama; McCain Promises Huge Tax Breaks For Them In Return:
McCain has cultivated support from mega-corporations by promising to dole out huge tax breaks in return should he win the presidency. As the Wonk Room reported in June, McCain’s plan to cut the corporate tax rate from 35 percent to 25 percent would yield $45 billion in tax breaks for the 200 largest corporations:
Eight companies — Wal-Mart Stores Inc., Exxon Mobil Corp., ConocoPhillips Co., Bank of America Corp., AT&T, Berkshire Hathaway Inc., JPMorgan Chase & Co., and Microsoft Corp. — would each receive over $1 billion a year.
McCain would deliver about $4 billion in tax cuts to the five largest oil companies. He would also hand over $2 billion to the top 10 health insurance companies. Unlike the highest-rung of the corporate ladder, much of the rest of Wall Street refuses to be bought off. Those employees are giving more to Obama than to McCain.
Perhaps the most annoying part of this information is that voters won’t even challenge McCain on this. They’ll either remain ignorant, or will passively approve of the selling of the United States to large corporations. Perhaps it’s for the better. If American voters were a little smarter, McCain would have to manufacture new wars and create irrational fear to divert the spotlight from his actions.