Place the bulgur, hot water, and about a cup of the juice from the canned tomatoes in a small saucepan.
Cover and bring to a boil on high heat, then lower the heat and simmer gently.
Heat the olive oil in a large saucepan. Saute the onions, garlic, cumin, chili powder, and Tabasco or cayenne.
When the onions are soft, stir in the bell peppers and saute for 2 to 3 minutes more.
Chop the tomatoes right in the can and add them to the pan (I used canned diced tomatoes instead).
Stir the corn and beans, and heat thoroughly on low heat.
Taste the bulgur. When it is cooked but still chewy, add it to the pan with its liquid.
Cover and simmer for a few minutes for the flavors to meld.
Add salt to taste. Serve plain or topped with grated cheese and fresh cilantro.