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The wealthy, and the Great Companies - do not do it on their own.
It takes a village - and WE are the village!
"Obama's Foreign Profit Repatriation Plan"
How the President hopes to reverse the outsourcing of jobs and profits of the Big 100
Obama?s Foreign Profit Repatriation Plan: Video - Bloomberg
Good plan ....
Window dressing.
No real political will here from the Prez who initially hired Bush's economic team.
Through the magic of a kind of twisted logic, the real beneficiaries of the entitlement state have labeled the working classes as the entitled. How this magic works is kinda simple, all you do is reverse criticize and presto chango, now the poor are the problem. Meanwhile the rich laugh away the days on a sunny foreign clime and the meatheads on the right apologize for the wealthy. Oh the magic of ideas.
"Reduce the deficit, they chant, by curtailing programs supporting the middle and poor classes. Quietly accept the double-trickle down process. But dont you dare touch the entitlements of the rich that put everyone else at risk." The Contemporary Condition: The Real Entitlement Crisis
'The Conservative Nanny State: How the Wealthy Use the Government to Stay Rich and Get Richer' The Conservative Nanny State
'The Basic Conservative Nanny State Mythology'
"This larger group of professionals has constructed and promoted the key myth of the conservative nanny state; they have succeeded where others have failed because they have the ability and education to succeed in the 21st century world economy. The problem with the others that have fallen behind the autoworkers, the shop clerks, the restaurant workers etc. is that they don't have the skills needed to compete. The remedy of the nanny state conservatives is to either tell the losers to be more like them and work harder (the Republican nanny state conservatives) or express sympathy and throw a few dollars at vocational education and trade adjustment assistance (the Democratic nanny state conservatives). The key to a real solution is to move beyond the conservative nanny state mythology.
It doesn't take sophisticated economics to understand how some professionals have fared well in recent decades, even as most workers have done poorly; it is a simple story of supply and demand. The rules of the nanny state are structured to increase the supply of less-skilled labor, while restricting the supply of some types of highly skilled professionals. With more supply, wages fall the situation of less-skilled workers. With less supply, wages rise the situation of highly skilled professionals.
While there are many mechanisms through which the nanny state conservatives have increased the supply of less-skilled labor, probably the most visible is trade. Trade agreements that facilitate imports of cars, steel, clothes, and other manufactured goods disproportionately displace less-skilled workers from what had formerly been middle-class jobs with good wages and benefits. Nanny state conservatives usually treat this job loss as an unfortunate byproduct of trade agreements like NAFTA and CAFTA. In fact, the job loss and downward pressure on wages from these agreements are not unfortunate side effects of these trade deals they are precisely the point of these trade deals." link above
They passed the tax bill in 2003
What was in the tax bill which caused 8 million jobs to go offshore?
The 2003 Bush/Republican Corporate welfare handout that allowed companies to pay no tax on foreign profits.
From the opening post of this thread:
"The report by U.S. PIRG, which analyzed the public filings of the top 100 U.S. publicly traded companies, also found that 82 companies maintain subsidiaries in low-tax jurisdictions located abroad."
They passed the tax bill in 2003
Lower taxes here would encourage companies to stay here.
It sounds so good when Limbaugh says it, why so dumb when the ditto heads say it?
They passed the tax bill in 2003
Lower taxes here would encourage companies to stay here.
Did you drop out of math class before 8th grade? Before 6th?
Based on this line of reasoning, let's lower the corporate tax rate to $0, and companies all over the world will move here, and everyone will have a job. Out country will soon have the pollution that China does, and every individual will have to pay taxes that are high enough to pay for the entire American budget for the nation, state, county, and cities. We will pay out of our paychecks for repair of roads and bridges that are destroyed by heavy trucks, and all other expenses that are generated because of commercial activity. This means, of course, that the middle class will be destroyed, and the capitalists will own everything, like they did in 1900. The result would be a dramatic and wide disparaty between the rich and the poor, which was pretty much what caused the French Revelution. Individual taxes would be so high that all of this commercial production would have to find markets overseas, because we would not be afford to be able to buy anything. The jobs of manufacturing Fruit of the Loom underwear and TV sets would come back, but it would all be shipped to nations where people had income to buy it. We would see the rebirth of dynasty families, like the Vanderbilts, Carneges and Morgans.
Mitt Romney would, at last, feel at home in a world that he could identify with.
According to drivebymedia, cutting taxes would move all business overseas and jobs would be created overseas.
According to drivebymedia, cutting taxes would move all business overseas and jobs would be created overseas.
No, according to drivebymedia, giving companies tax free profits on overseas operations did create jobs overseas and cost the U.S. 8 million jobs.
According to drivebymedia, cutting taxes would move all business overseas and jobs would be created overseas.
No, according to drivebymedia, giving companies tax free profits on overseas operations did create jobs overseas and cost the U.S. 8 million jobs.
