Monday, October 17, 2011

Corp. Tax Cuts, Corp. Tax Holidays = Jobs {NOT!!}

The growing Occupy movement may want to take a look at this Senate Report and use what's inside of it, God knows the Media will probably ignore it, doesn't fit their meme's nor need!

The AFL-CIO sent out one of their blog posts of a Senate Sub Committee report called the REPATRIATING OFFSHORE FUNDS: 2004 TAX WINDFALL FOR SELECT MULTINATIONALS released on October 11 2011, that tears the tepublican, way to often parroted, talking points about tax cuts, especially to the Corporations, equal that never happening trickle down to job creation.

Senate Report: The Last Big Corporate Tax Cut Did Not Create Jobs

Oct 16, 2011 - If you listen to anti-worker politicians on the right, you’d think the answer to the nation’s ills lies in tax cuts, and not just the extension of the Bush tax cuts for America’s wealthiest human citizens. Corporate tax cuts are often hailed as the solution to America’s jobs crisis.

But a report issued this week by the U.S. Senate Permanent Subcommittee on Investigations, led by Sen. Carl Levin (D-Mich.), gives lie to that logic with its stark findings that a notable recent effort to create jobs through corporate tax cuts created a multibillion-dollar corporate windfall that did not trickle down to America’s workers, and did not create new jobs.

A law designed to spur new jobs in the United States passed six years ago aimed to do so by allowing U.S. corporations that were holding profits overseas to bring that money back into the United States at an extremely low tax rate. Corporations brought home billions, but did not invest in U.S. operations or create jobs. From the Levin report, titled “Repatriating Offshore Funds: 2004 Tax Windfall for Select Multinationals”: read more>>>

It goes on, in a few paragraphs to pointing out what the recent McCain-Paul plan wouldn't do, according to this report, create jobs!

We already know that since the original bush tax cuts jobs not only weren't created but the millions of lost jobs were a big part of the economic collapse and the extension of offered no relief, while the wealthy got wealthier and wealthier and wealthier...........even off the wars of choice directly or indirectly!

Here's the report:

U.S. Senate Report: The Last Big Corporate Tax Cut Did Not Create Jobs

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