GOOD Wall Street Journal Story

[oldbookguy]

Researching this, we all consider 15 billion a lot, the reality is, to congress, it is 15 cents.

What? Yes.

The following is from The Mulinational Monitor, Vol. 25, No. 11, 2004 and relates to another WTO ruling Congress DID follow that involved Export Tax Subsidies.

http://multinationalmonitor.org/mm20.../mcintyre.html

[ QUOTE ]
In October, Congress adopted legislation to comply with a World Trade Organization (WTO) ruling that an export tax subsidy violates certain WTO obligations. The legislation closed some heavily criticized corporate loopholes that almost everyone agrees are unwarranted. But at the same time, the bill expanded existing and created new tax breaks — to the tune of $210 billion, mostly for corporations. They even include measures that would make it easier (and more lucrative) for companies to shift taxable profits, and potentially jobs, overseas.

[/ QUOTE ]

So, will these companies really care about 15 billion, no. For them, to be certain, Congress will offer substansial tax cuts now, as then.

So, what is our hope and is it lost?

NO! We must main stream this to people, the ones it may and likely WILL effect, lost jobs, the same as in 2004 only with a much smaller impact of course.

Draw a parallel though this is smaller, it is just one more time Congress will be willing to send jobs overseas and lose income.

A quick fact - Instead of a 35 percent tax rate, the companies as a group paid a three-year effective tax rate of only 18.4 percent.

obg