Senate Proposes Tax Break for Transnational Corporations

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Senate Proposes Tax Break for Transnational Corporations

October 7th, 2011

FAKE NEWS for the Zionist agenda

Kevin Drawbaugh
Reuters
October 6, 2011

Corporations seeking a tax break on overseas profits scored a win on Thursday in the Senate with the introduction of a bill offering two possible reduced tax rates for repatriating earnings from abroad.

Senators Kay Hagan and John McCain unveiled bipartisan legislation that would let multinationals bring foreign profits into the country at an 8.75 percent tax rate or, if they boost hiring, at 5.25 percent. The statutory rate is 35 percent.

McCain, a Republican, said the bill would be offered as an amendment to President Barack Obama’s jobs package when that measure arrives in the Senate, if Democratic Senate leadership does not on its own include the tax provision in the package.

5 Responses to “Senate Proposes Tax Break for Transnational Corporations”

This is so the super corporations can keep all the money and not pay taxes on it. This overseas tax scam to keep from paying their fare share. If you sell a product you have to pay taxes on the profit period. But most of the companies use the paperwork suffle to not pay. This needs to end. These companies need to be barred from selling anything if they use overseas tax shelter companies to hide from paying. The best way is to get rid of the IRS and put in a consumption tax. Revenue would triple because the super rich who spend lots of money would be forced to pay their fare share instead of keeping money off shore.
The real solution is to allow them to pass whatever they want, but require each and every individual to line item approve any taxes on their yearly tax claim statements that they fill out at the beginning of each year (the little form that asks you how many dependents you are claiming for the year). Something like:

[ ] ObamaCare 27% income tax
[ ] Turtle Bridges 8% income tax
[ ] Social Security 10% income tax
etc…etc…

They’d find out real quick that people aren’t going to put up with frivolous spending and state to state “special projects”
Will they lower Alex’s taxes if he moves this operation to Canada or something?
if it has mccain’s name attached to it it is poison. how about they just cut spending…BIG cuts in spending. the problem always has been and appears always will be spending. if they cut spending and then cut taxes on Americans the economy would get better the very day they do that. that is the one plan they have not tried yet. they have done everythig else but cut big on thoes two items and they won’t. the more they mess with the economy the worse they make things.
way to go congress