"Non-violence leads to the highest ethics, which is the goal of all evolution. Until we stop harming all other living beings, we are still savages" -Thomas A. Edison

Monday, November 14, 2005

Luscious, Corporate Tax Holiday

"The tax break, passed by Congress last year as part of the American Jobs Creation Act, lets American companies bring foreign-held profits back to the United States this year at a discount of up to 85 percent off the normal tax rate. So far, nearly 100 companies have announced repatriations totaling more than $200 billion, all of which will be eligible for the cut-rate of 5.25 percent, instead of the usual top rate of 35 percent. As its critics warned at the outset, the so-called tax holiday has proved to be a bigger gift to shareholders than to employees and job seekers. "


Post a Comment

<< Home