Supreme Court Officially Emasculates Taxpayers
Remember - these taxpayer giveaways are accelerating and come at a huge cost in terms of higher taxes for individuals. As USA Today noted, "In 1977, nine states gave tax credits to corporations [but] by 1998, that number had grown to 36." At the same time, "individual income taxes are growing at a faster rate than corporate income taxes" because state/local governments are recovering the tax giveaways from ordinary citizens. According to the Census Bureau, "corporate income taxes collected rose 6.5% from 1994 to 2004, while individual income taxes collected went up 49.7%."