Tuesday, July 13, 2004

GE lobbyists mold tax bill

That great sucking sound you here is money (and jobs) headed overseas.

"'The bill is truly amazing,' said Michael J. McIntyre, a tax law professor at Wayne State University and an expert on international corporate tax issues. 'We had an incentive for exports that was illegal and had to be repealed. Now Congress takes the money saved by the repeal and uses it to reduce taxes on the income earned by U.S. companies in foreign countries, thereby making foreign investment more attractive than U.S. investment.'"

1 comment:

S.W. Anderson said...

Maybe this klnd of thing will roll on until the greedy SOB's responsible have a sobering experience. I can conceive of one such scenario.

Imagine if an Army Division -- commander down to newest private all agreeing -- were to sell out to a highest-bidder country and redeploy itself to that country, taking equipment, supplies, everything possible along.

It's the same rationale as free trade and globalization as practised by corporate America and the multinationals: I'll get mine, you get yours, screw everybody else.