Senate to vote on rescue plan with added tax cut

When you talk about American companies locating their production facilities overseas you seem to be implying that the sole reason they do this is for cheap labor. Granted the cost of labor may well figure into that decision making process. However, it is foolish to suggest that the cost of labor is the sole reason for such an action. High corporate taxes on the facility (buildings), on all the equipment, on income received for the product, on the stored materials needed for produce the product, and all other company assests also are a major reason why companies choose to produce their products overseas.

 

No obstructionist EPA standards
No ACLU-inspired mandatory sexual harassment, racial harmony, transgendered acceptance training.
No unions.

 

Oh...well we can't blame taxes. That is the libs bread and butter for more power.

 

I say this is a manufactured crisis, meant to swing an election. I personally know 3 people who have had loans approved this week. That and the Jewish congressmen taking Tuesday off. I cry foul, and tell them greedy miscreants in Washington that they have enough.

ENOUGH !!!!!!! Stop falling for it. We will get a socialist president, only interested in group-voting-blocks. This is not a crisis. Do not trust either of these guys. America will be better off.

Put no trust in extortion;
set no vain hopes on robbery;
if riches increase, set not your heart on them.
Psalm 62:10

The blessing of the Lord makes rich,
and he adds no sorrow with it.
Proverbs 10:22

Everyone also to whom God has given wealth and possessions and power to enjoy them, and to accept his lot and rejoice in his toil...
Ecclesiastes 5:10

 

It is manufactured. The credit lines are not drying up. Weren't we supposed to come to a complete halt in this country last monday?

 

You can seriously doubt it all day long. However, you'd be wrong. What specific loopholes has President Bush put into the U.S. Corporate Tax Code (evidence and source please)? According to my research the U.S. has the second highest corporate tax rate in the world when you consider Federal and State Corporate Taxes combined.

Source: http://www.taxfoundation.org/publications/show/22917.html

Where is your data with source to indicate that U.S. corporations have specifically received "tax breaks" for moving jobs overseas and that President Bush is responsible for loopholes in the U.S. Corporate Tax Code?​

 

I asked for the same thing from him. Still waiting.

 

You're right.:thumbs:

 

Isn't it interesting that it took the addition of corporate tax cuts to pass?
It should be interesting to see who will be compelled to change their vote, and why it took tax cuts to entice them........

 

Which is also how unions came about.

You guys keep calling me on this so I guess it's time for me to put up.

The main Bill was H.R. 4520 and was ironically disguised under the name of American Jobs Creation Act Of 2004. This was just one of several. I will let you guys google the bill since anything I provide you will call biased. It's design was to combat trade deficits. Here was the concept and idea behind the legislation;

This bill also allowed corporations to bring the money they earned overseas to pay a fraction of the tax when they bring the bucks back to the states.

 

You may want to look at this bill again:

http://waysandmeans.house.gov/Media/pdf/hr4520/jcx-41-04.pdf

 

He still has not provided evidence and sources to back his claims. I'm beginning to see a pattern here...:tonofbricks:

 

Until I learn to read legal I will leave the complete bill to you. Here is the description on fact check.

That's just one loophole, there is said to be 24 of these loopholes in that piece of legislation. Even if there aren't 24, 1 is too many.

 

Did you read the bill or are you just speaking out the side of your neck. I'm beginning to see a pattern here...

 

At last count, the bill was over 400 pages long. The one that KenH posted a few nights ago was only about 110 pages, if I recall correctly, (and it was as clear as mud) and the original bill was 20 pages. Why do I smell 40 truckloads of pork?

Fleeced again--I just hope that in all the pork, they did enough to fulfill the original purpose.

 

I don't see a problem with this particular tax provision as you have worded it. Good fro them. If the company earned money overseas then the US has no business taxing it. Way to much money goes to the Federal coffers unconstitutionally as it is.

In the end this is not a tax incentive it is only fair. We have no business taxing what is earned over seas.

 

That is one view point, but it also says to American companies that if you move your manufacturing and shipping overseas, you can have cheaper labor and the money will be non-taxable. Now this law helps the American economy how?

Again, from reading a lot of reviews, that is said to be one of 24 such loopholes in that bill. All I'm saying is this it's one thing if a company moves the jobs out of this country for the cheap labor. We can't stop that. But to reward them which also encourages the decision to move the jobs I feel is treason against the people of this country.