Matt Taibbi Reveals The Most Outrageous 'Holiday' Ever

Run time: 06:18 https://www.youtube.com/watch?v=dlX7oj6CeIk   Posted on YouTube: August 05, 2011 By YouTube Member: karinmoveon Views on YouTube: 2147   Posted on DU: August 12, 2011 By DU Member: roxiejules Views on DU: 684

 
Evil Corporate Tax Holiday Deal Still Alive -

http://www.rollingstone.com/politics/blogs/taibblog/evil-corporate-tax-holiday-deal-still-alive-20110804


There was some talk that a corporate tax holiday might be rolled up somehow into the debt-ceiling deal. I heard that from a few quarters in DC in the weeks leading up to Obama’s Bighornesque debt/supercommittee massacre.

However, the tax holiday turned out to not be part of that deal. That does not mean, however, that the proposal is dead. In fact, calling around in the last few days, I’m hearing that it is very much alive.

The action revolves around a bill sponsored in May by Texas Republican Kevin Brady (and co-sponsored by Utah Democrat Jim Matheson) called the Freedom To Invest Act, which would “temporarily” lower the effective corporate tax rate to 5.25 percent for all profits being repatriated.

Essentially, this is a one-time tax holiday rewarding companies for systematically offshoring their profits since 2004 – the last time they did this “one-time” deal.

There are our jobs. Will he get it? Probably not..this bunch will not budge. It is evilness to work in this way...Kerry may be a part of it...but he's on the side of jobs. If they don't go for this...there should be no tax holiday. That is where Kerry may fail. They will get what they want.

I believe there should be no holiday at all...until the workers get off of their extended holiday. When unemployment is back down to 5 or below...then taxes can "take a holiday again".

Kerry is making an effort, as fruitless as it will probably be. Matt won't report this..and gives Kerry another slant. I tried to get Kerry to address it...and they all think they can just ignore what everyone is reading every day. How come Kerry did not talk about this on Scarborough?????