Check this out... American Jobs Creation Act ...Repatriation of monies!

[lonestarnot]

I found this very to be very interesting email mailed to a local reporter so had to share... removed all names due to confidentiality.

Dear ____,

I was quite alarmed to read in this morning's Wall Street Journal (page C-3) that corporations are misusing the tax breaks created by the American Jobs Creation Act. As you probably know, the overseas affiliates of American corporations are holding $650 billion in retained earnings which they would like to "repatriate". Ordinarily, they would have to pay 35% in taxes (or $227.5 Billion) when they do so. This is a substantial amount of money, enough to cover more than 50% of our current national deficit. Last autumn, Congress passed, and the President signed, the American Jobs Creation Act, which would tax these amounts at only 5.25% so long as they were used to "create jobs". Corporations are now announcing their intentions to repatriate these amounts. Almost all the corporate representatives interviewed by the Journal said that these amounts would be spent on "acquisitions". In my experience, "acquisitions" result in "layoffs", the exact opposite of the supposed purpose of the Act. In the meantime, wage earners continue to pay nearly 40% of their earnings on federal, state and local income taxes.

Apparently, "Friends Don't Let Friends Get Taxed".

________________________________________

[lonestarnot]

1. Ok ...everyone ignoring me...take my rocks and go to bed... Love the

lonestar...

[Must_B_Free]

2. try adding a penis or two

that will get it attention...

[lonestarnot]

3. Fuck a penis...want people to know about this!

[linazelle]

4. We continue to see individuals paying more for government

than corporations. Oh well, corporations are "people" too. :eyes:

[lonestarnot]

6. Jobs creation is the point! The Act was pushed as a Job Creations Act

Not a corporate give away! This is bordering on a fraudulent sell, but then I guess congress doesn't really read anything!

[linazelle]

8. I get it and I understand that under the guise of the act

corporations are getting away with not paying the taxes that they should. Which is why I said individuals pay more than corporations.

[EC]

5. That really figures.....

What else could we expect from these crooks...Kerry was right, these are the crookedest bunch of crooks...or however he said it...

[lonestarnot]

7. Why can't people see it? Why Why Why? n/t

[lostnfound]

9. Because if it were true, and important, it would be in the newspapers.

And on CNNFOXMSNBC.

That's the unspoken and ill-considered assumption, I think.

[lonestarnot]

10. Maybe you're right...only way it's true is if it's in da paper!