Sunday, May 08, 2005

You gotta love the title...

I've heard this one before.

The New York Times has a frontpage story about the American Jobs Creation Act of 2004, signed by Bush last October. What it REALLY is is a tax break for companies that made huge profits overseas to bring the money back home and only pay 5.25% of it, as opposed to paying the 35% they are supposed to pay. As much as $80B are eligible. That's about 1/4 of the cost of the war in Iraq so far. Some of the biggest benificiaries of the big Drug Companies such as Pfizer, Johnson and Johnson and Bristol Myers, despite the fact that much of their profit comes from the domestic customers. These are the same drug companies that pressured the formerly free-market Republicans to push for the closing of the Canadian border to American consumers who are looking for a cheaper alternative for the SAME drugs.

Even though most corporations are supposed to pay a top rate of 35% on profits, most of the drug companies (cartel) pay a collective total of about 15%. Think of it. The typical middle class individual pays 28%. In fact about about 89% of all tax revenue comes from you and me (not me, because I have no inncome to tax) and 11% comes from corporations.

But you gotta love the name - "The American Job Creation Act" of 2004. So where are the jobs? American corporations have been having some of the biggest profits since 2002, but they are still reluctant to bring on staff. Far better to make the ones they have non-exempt employees who can work for than one shift and pay them for only one. At the same time, cut back on the benefits like health care. Even McDonalds wants to convert to self serve kiosks so they can eliminate employees.

But having another loophole for corporations being disquised as an "American Job Creation Act" is simply deceitful. And deceit is another word for saying 'lying' which is quite immoral for the Values Party.

Meanwhile CNN (liberal media) had a biography of Tom DeLay. Funny, when he had his own exterminator business, the IRS put 3 liens on the business because he didn't pay payroll or SS taxes. Funny, this is the guy who wants to put in judges who are strict constructionists, in other words, judges who will interpret and follow the law. Of course, the Bush Administrations hates CNN and the New York Times because it covers stories that Fox dares to tread and if they do, won't give it much airplay.

I was watching (caught the end of) the Beltway Boys on Fox. This is the biggest waste of airtime on TV. Its not a talk show, its two Bush supporters who try to outdo each other in who is the better Republican.

But Mort Kondrake said something that was absolutely SHOCKING. He criticized Walmart for being the most successful corporation while its wages were among the lowest, was cited in Arkansas for hiring illegal aliens and again was on the chopping block for hiring illegal aliens as its cleaning staff. The company has since gone out of ite way, including commercials in Mandarin to get its point across that it was a 'good' company (especially for minorities) to work. Its called Damage Control.

But of course, Mort's partner in crime, Fred Barnes, who at least admitted he owns stock in the company by saying that Walmart's wages were no worse than other retail outfits, but Mort countered with some statistics that other stores like Target paid better.

Walmart - A Mexican Success Story.


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