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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: DuckTapeSunroof who wrote (501505)	12/1/2003 1:50:25 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 769667

PS - I'm a flat tax supporter... but when loopholes reduce the effective tax rate of US-based multinationals on the money they repatriate to the US to well below 3% (from the top nominal marginal rate of 35%)... it's hard to argue that modest progressivity is a greater blow to 'fairness' than the loopholes are. I just witnessed the most agressive ripoff of taxpayers of my state (California) by large tech multinationals and I would really like to close some of these loopholes. California made huge infrastructure investments in the 90s and gave large tech companies tax breaks... the assumption was that these companies would provide good jobs and individual taxes would cover costs. When it came time to pay the piper, Intel and friends offshored their labor while at the same time Barratt was whining and crying about high california taxes... intel even had the gall to stand up in congress with the bought and paid for senator Hatch and ask for foreign work visa extensions! Some of these companies, not intel but some others actually COST more to maintain than we receive in revenue. We have to put a stop to this. If a company operates here and uses the US as a market while receiving huge tax breaks that does nothing for us. These companies are better off leaving, then a US-based new company can grow in their place. At least don't give these corporate robber barons a free ride at taxpayers expense. Also the california law requiring healthcare insurance for small businesses, which admittedly was not a great law, is an attempt by the legislature to get these big companies like Intel to stop using taxpayers as a way to escape healthcare costs. Intel uses subcontractors which are actually small businesses <wink wink> to handle non essential tasks pays these people nothing to do it. Somebody gets sick, they go to the emergency room on the taxpayer. I've had it with this.