What is your opinion on the House manufactuing tax cut bill?

[wuushew]

Some Democrats support it and it does help small business. On the other hand its expensive, violates WTO rules and includes tax breaks for oil and gas companies.


-snip-

U.S. producers won a rate cut, and multinational firms won new rules that would make it easier for them to claim deductions for interest and credits for taxes paid in foreign countries.

The bill also would cut taxes for small businesses beginning next year. By 2012, more than 99 percent of all businesses would see their top tax rate fall from 35 percent to 32 percent.

The legislation also would shut down some corporate tax shelters and includes items to discourage individuals and companies from moving abroad to avoid paying U.S. taxes.

Balancing the items that raise revenue with new tax cuts, the bill would cost $60 billion over the coming decade.


http://www.salon.com/news/wire/2003/10/28/tax_cut/print.html

[camero]

1. More corporate welfare

It also gives big tax breaks on foriegn profits for multinationals.

Like Schumer said, "How in the hell did $4 billion become $128 billion".

[Wwagsthedog]

2. This tax cut is fine with me

As long as the shills in Washington revoke all the prior tax cuts and balance the budget so the country won't go bankrupt.

[camero]

3. I honestly don't know how you can say that

When there are corporations who go offshore to avoid paying taxes and they still won't close that loophole. Talk about giving away the store.

[dfong63]

4. rewarding the corps that are sending our jobs overseas