Blast from the past; McCain shoots down tax law that benefits offshorers.

[Deja Q]

http://www.bizjournals.com/phoenix/stories/2004/05/17/newscolumn1.html

:(


Arizona Sens. John McCain and Jon Kyl joined other Senate Republicans last week in killing measures aimed at reducing corporate tax benefits enjoyed by U.S. businesses that move assets and jobs offshore.

McCain and Kyl voted against a handful of Democratic measures aimed at reducing or getting rid tax code provisions that companies can use to benefit from moving operations, assets and jobs overseas.

(SNIP)

McCain and Kyl both are ardent free trade advocates and prefer more research and development tax credits, fewer lawsuits against businesses and work force training to combat offshoring-induced job losses.

Meanwhile in the U.S. House of Representatives, Scottsdale Rep. J.D. Hayworth said he is part of a group developing a tax reform package that aims to encourage job growth in the United States but without hurting businesses bottom lines.

Article has more...

All I know is, "free trade", in action and not in carefully crafted phraseology, means we can give the world means to do what we do. Rather than trading our means for their means. Um, what means does China have again? India? Mexico? They got it from us. It's bizarre as there is no trade; we're buying US products made overseas by countries, most of which, don't care for the plastic junk Americans seem to cherish... and many of which don't seem to care for US either... which could be scary if the right sequence of events were to come together...

And businesses' bottom lines depend on people spending. Get rid of the spenders (the middle class and the wealthy will be just as destitute, I regret to say.)


Very patriotic, Mr. McCain.

Cain killed Abel, according to the Biblical texts...

What if Abel is ye-olde time for "America"?

/timidconjecture