Sunday, April 16, 2006

American Jobs Creation Act, how much Congress loves the workers.

Congress loves the American worker so much, that they gave corporations $104 billion in 2005, not for creating any jobs in this country, but for just being so lovable. Oh, and for paying their fair share in campaign contributions.

Serves us right for not paying attention and electing a bunch of crack whores to supposedly represent us.

Feeling flush because you're getting a nice tax refund this year? You're not
alone. Some of America's largest corporations—a virtual who's who of the Fortune
100—have been reporting their own hefty tax windfalls, thanks to an absurd
provision of a law designed to create jobs.
IBM, for example, is banking a
$2.8 billion refund—well, better to call it a "tax savings"—because instead of
paying the normal corporate tax rate of 35 percent on $9.5 billion in profits it
earned overseas, the company paid only 5.25 percent. That's the magic of the
American Jobs Creation Act, a piece of legislation that passed with comfortable
margins in both the House and the Senate and was signed into law by President
Bush just two weeks before the 2004 elections.

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I did not mean that Conservatives are generally stupid; I meant, that stupid persons are generally Conservative. I believe that to be so obvious and undeniable a fact that I hardly think any hon. Gentleman will question it.

John Stuart Mill (May 20 1806 – May 8 1873)