i agree with that. kerry and dubya are both for NAFTA and they both recognize why it's necessary these days. however, kerry is trying to do something that will help him in industrial states (e.g., ohio, michigan) where voters are feeling the effects of the lost manufacturing jobs. i don't think the tax strategy will work, but i think he has to act like it will to win some of those votes. i happen to agree with kerry and bush and clinton and many others on the free trade issue. i think jobs moving overseas will eventually improve our economy as new markets emerge and free trade is already bringing prices down on some goods that we import (e.g., textiles). despite all that, i still find the results to many people and communities to be quite devastating and that makes me feel guilty. <br><br>"Tribal sovereignty means that, it's sovereign. You're a—you've been given sovereignty, and you're viewed as a sovereign entity. And, therefore, the relationship between the federal government and tribes is one between sovereign entities." dubya 8.6.04
Actually, I'm not talking about job outsourcing. I'm talking about corporate tax off-shoring, which is a totally separate phenomenon. If you really dig documentaries, check out Frontline's explanation at their website.<br><br>Basically, there are a few different ways that corporations can avoid paying federal taxes. One is where a company re-incorporates in a tax-haven in a place like the Bahamas. Then they transfer all of the business into a wholly-owned subsidiary of the offshore company. No one actually works at the parent company, but they don't need to in order to take advantage of the tax haven. Another way it's done is called lease in lease out. That's when a company takes all of their profits and sinks it into foreign real estate or utilities. They exit the transaction at a very small loss, which allows it to be recorded as a loss and exempt from taxes.<br><br>Most of these procedures are illegal, but the tax code is muddy enough and the IRS enforcement authority weak enough to let everything slip by.<br><br>-- Charlie Alpha Roger Yankee Whiskey<br>
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