The Mudcat Café TM
Thread #133966   Message #3046516
Posted By: Bobert
04-Dec-10 - 06:42 PM
Thread Name: BS: Obama a Big Disappointment...
Subject: RE: BS: Obama a Big Disappointment...
It's not like we have allowed all our manufacturing go, Oldster... Yeah, we allowed the Japanese to steal or steel industry in the 80s but the rest haven't so much stolen as stupid tax codes and corporate greed that have allowed Boss Hog to continue owning the industries but moving the equipment overseas... I my area of the country it was the textile industry that was dismantled and moved machine-by-machine to Pakistan, Bangladesh, Indonesia, etc. with Boss Hog either owning the industry outright or having a sweetheart deal with someone in those countries...

One of the worst tax policies that I am aware of is not taxing physical plants in foreign nations as corporate assets... Here's how that one works... In order to attract US business, China (and others) will offer to put in all the infrastructure and build the plants for Boss Hog, Inc, and then turn it all over to Boss Hog, Inc. who in turn hires folks in host country... Now if Boss Hog, Inc. had to spend his own money in the US and build a widget factory that factory would be taxed potentially as an asset held by Boss Hog, Inc., right???

Not that way with foreign plants... Boss Hog, Inc. has bought off enough Congressmen to exempt that asset from being taxed??? In other words, there is no incentive for Boss Hog, inc. to keep making widgets here in the US...

And we wonder why we have 9.8% unemployment and 20% under-employment??? Follow the money... As for how these loopholes got into our tax codes it ain't rocket surgery... And if we get more supposed "free trade" jerks in Congress who would rather make a buck for themselves and their buddies, at the expense of our country, then so be it... They really don't give a flying fuck for the American worker... That's why they don't want to extend unemployment...

If I were president I'd close that loophole so fast that it would make Boss Hog's head spin off his neck... I mean, if I had to use signing statements, I'd do it... I'd also invite every last crooked Boss Hog to either love this country and support it or get the heck out and don't come back...

B~