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Politics : Foreign Affairs Discussion Group -- Ignore unavailable to you. Want to Upgrade?

To: jttmab who wrote (185847)	4/27/2006 9:12:02 PM
From: geode00	Read Replies (1) \| Respond to of 281500

I heard an interesting account of how the US government encourages US companies to get rid of US jobs. 1. They can close plants and get a nice tax break for the loss. 2. They can buy a widget for $1 in China and then transport it to the Cayman Islands where it magically gets 'bought' for $5 with the $4 profit being taxed there. Wait! The Caymans don't have corporate income taxes (maybe it was another similar sounding bank disguised as an island). 3. That now $5 widget gets brought to the US where, due to the magic of transfer pricing, the 'profit' is miniscule to the 'American' company. Therefore the tax is miniscule as well. 4. The US middle class taxpayer, however, gets to pay for all of the infrastructure that makes these little shennanigans possible. DOES EVERYONE KNOW HOW OFTEN THEY ARE GETTING SLAPPED AROUND BY THEIR OWN COUNTRY? Sorry, I just had to shout that out as most Americans are too deaf to pay attention. 5. Corporations are paying teeney weeney taxes but the middle class families earning from $50K to $200K are going to get whacked upside the head with the AMT....hey, someone has to pay for roads and bridges and government expenses! Billionaires are too disadvantaged to pay! 6. We are insane.