Saturday, 08 October 2011 10:06 'Giving corporations a tax break on their overseas profits likely would not boost the economy or jobs, said credit rating agency Fitch Inc on Thursday after two senators unveiled a tax "holiday" bill. The Fitch statement echoed two other studies released on Tuesday that reached the same conclusion -- a stark contrast with the picture painted by Republican Senator John McCain of the legislation he introduced with Democrat Kay Hagan. The lawmakers appeared at a news conference to discuss their measure, which offers two possible reduced tax rates for repatriating, or bringing into the United States, earnings now stashed abroad avoiding the 35 percent corporate income tax.' Read more: Senate Proposes Tax Break for Transnational Corporations
Saturday, 08 October 2011 08:46
'Homing in on one of the several shocking aspects of the Solyndra scandal, lawmakers noted that, a few months before the “clean energy” enterprise went belly-up last week, the Obama Energy Department signed off on a sweetheart deal.
In the event of bankruptcy — the destination to which it was screamingly obvious Solyndra was headed despite the president’s injection of $535 million in federal loans — the cozily connected private investors would be given priority over American taxpayers. In other words, when the busted company’s assets were sold off, Obama pals would recoup some of their losses, while you would be left holding the half-billion-dollar bag.'
Saturday, 08 October 2011 08:44
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