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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (13044)	10/7/2004 12:25:17 PM
From: SeaViewer	Read Replies (1) \| Respond to of 116555

What if the Moon refuse to let them land? -g-

To: Knighty Tin who wrote (13044)	10/7/2004 1:04:03 PM
From: ild	Read Replies (1) \| Respond to of 116555

Are all big pharma stocks going to zero?

To: Knighty Tin who wrote (13044)	10/7/2004 2:41:01 PM
From: mishedlo	Read Replies (1) \| Respond to of 116555

corporate tax handouts [arent we supposed to FIX this? EU sanctions rise every month. They should quadruple them until we get the message - mish] nytimes.com n an act of pre-election largess, House and Senate negotiators approved a sprawling corporate tax bill on Wednesday that would shower corporations and farmers in politically sensitive states with about $145 billion worth of new tax cuts. ... The bill was initially intended to compensate exporters for the loss of $50 billion in tax breaks that the World Trade Organization had declared illegal, but Congressional negotiators approved a 633-page behemoth that doled out tax breaks worth nearly three times the original subsidy. ... The bill also includes $20 billion in tax cuts on the foreign earnings of multinational corporations. Companies that have accumulated billions of dollars in untaxed overseas profits, from computer companies like Hewlett-Packard to pharmaceutical producers like Eli Lilly, would be given a one-year holiday to bring those profits back to the United States at a small fraction of normal tax rates. Railroad companies like the CSX Corporation, which was headed by John W. Snow before he became Treasury secretary, would get a 50 percent tax credit for the cost of maintaining their tracks. The cost would be $501 million over 10 years. ... lawmakers added in a provision sought by Starbucks, the giant chain of coffee shops. The bill now declares that coffee roasting, though not coffee preparation, is a form of manufacturing. ... House Republicans rejected an entire bloc of Senate provisions that were intended to tighten the Internal Revenue Service's grip on tax shelters even more and would have raised more than $40 billion in additional revenue, according to Congressional tax analysts.