Top CEOs Give 10 Times More To McCain Than Obama; McCain Promises Huge Tax Breaks For Them In Return
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.
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.