House of Paine

kongress lets wally hogs repatriate foreign slop

here's a beaut
 
 the wally occupation congolian idiots  
                       "give it up  for  Mammon 
                      to the tune of 100 bills "
                      
               for .....what else 

                    "American Jobs Creation "


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washing post:



" A well-organized business coalition,
 led by pharmaceutical firms 
and high-technology companies,
  pushed hard last year 
to get a long-sought 
tax holiday 
 into the corporate tax bill
 moving through Congress
 
 the break is called
       'the American Jobs Creation Act' "

------------------
         a fucking hand out ?

try this on for size 

"Treasury Secretary John W. Snow
            objected
 that the measure would 
  unfairly benefit
 multinational corporations 
over domestic firms"

-----------indeed --------------

  "White House economists
 said it would produce 
no substantial economic benefit"

-------- oh yaaaaaa ---------

---------
seems 
  even the corporation's 
                         own
                    hand built  
            court appointed exec gubmint 
                       smelled this skunk ------------ 

"But with bipartisan  congressional backing,
 the business groups prevailed."


-------------pax  vobiscum -----------------


------------so whats the deal ???--------------

"  companies
 with substantial cash holdings overseas 
have until the end of this year
 to bring them home
 at an effective tax rate 
of 5  percent
 rather than the standard corporate tax rate
 of 35 percent."

" estimates are  
$300 billion to $400 billion 
 could be repatriated
 by the end of the tax holiday"

----------  wally tower savings ?

            90 to 120 bills 
                 to create jobs ------------------

 ------------ but fine print  details--------------

" Treasury officials warned 
from the beginning 
THE JOB CREATION 
 requirements were virtually unenforceable"

        ----------  
             so if its unenforceable
                    whats
                  the  best way 
               to create american jobs....
                  buy back 
            your own company stock of course -------------



----------- echo problems ? ---------------

"A further concern
     is the incentive 
the holiday may provide to tax shelterers

now
  Companies with operations in countries 
with corporate tax rates
 close to the U.S. rate 
had nothing to gain  
since they already can deduct taxes
 paid abroad from tax bills
 on repatriated earnings"

 " Companies with profits 
in tax havens with little 
or no corporate income taxes 
  stand to gain the most"

------ hence
with a possible
domestic dodge now and agian
 the incentive to find those havens goes up ---------------

--------- why were the drug and fuck ware 
                                    types
                              behind this mostest   ? ---------------

"  because so much of their profits 
come from "intangible" property,
 such as patents and licensing
                 which are 
                   easier to shelter 
in a low-tax country 
than  most other  profits"
            


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