Posted 1 year ago on March 14, 2013, 2:11 p.m. EST by TrevorMnemonic
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Tax cuts for the rich being proposed and most likely going to pass in Iowa.
Excerpt - "Analysis by the non-partisan Legislative Services Agency shows a flat tax would cost the state $412 million in lost general fund revenue in the fiscal year that starts July 1. The agency also estimated it would cost the state $130,000 annually to create and track a new tax form."
One of the goals of the corporate takeover is bankrupting governments to try and force them to sell out to privatization.
A small example from Matt Taibbi - Readers of my last book, Griftopia, might recall a chapter about the city of Chicago leasing 75 years of its parking meter revenue to a coterie of private investors, some of them from the Middle East. The end result was and is a political obscenity: Native Chicagoans are now completely at the mercy of private interests when it comes to parking rates, collections, even holidays. - http://www.rollingstone.com/politics/blogs/taibblog/new-york-to-repeat-chicago-s-parking-meter-catastrophe-20120613
The sell out to privatization is often pushed by the corrupt and simple minded. While the budget might find a solution for that year, or until the next election, the loss in revenue for the future is extreme, which means the problem was never solved, and in fact is now worse. And this is simply seen with this example of Chicago which sold out their public property.