The March 13 Post-Gazette (Page A4) carried a three-paragraph news brief titled “Tax Loopholes and U.S. Firms.” It reported $206 billion of “offshore profits” by U.S. corporations — Microsoft, Apple and IBM among them. Bloomberg News reports offshore holdings up 11.8 percent from last year.
Some of our federal legislators seek to reduce the national debt by cutting programs that assist those who are poor, including food stamps, early childhood education and day care and other public services.
There is something clearly out of balance here. Why are we so tough on welfare programs that benefit individuals in need, yet so tolerant of or blind to corporate welfare programs (aka “offshore loopholes”) which impoverish all of us except the few profiteers?
SISTER PATRICIA McCANN