Anyone else happen to watch Lou Dobbs on CNN last night (6/15/04) Report on "Congress gives corporate America a massive tax break." I’d like to know if anyone else knows of this or can find any info, I couldn’t find anything else on the web at all about it ?
As his guests on the topic he had Democratic Congressman Charlie Rangel who claimed it has basically taken a $4 billion problem (trade deficit I guess ?) and created it into a $140 billion tax cut that passed the House Ways and Means Committee late last night, and also was joined by Republican Congressman Jim McCrery who says the tax cuts will benefit all of us.
Link to the CNN web Transcript below,
This topic begins a little more than mid way down the transcripts page and begins ......
(COMMERCIAL BREAK)
ANNOUNCER: LOU DOBBS TONIGHT continues. Here now for more news, debate and opinion, Lou Dobbs.
DOBBS: Late last night, the House Ways and Means Committee passed a massive tax cut for corporate America. Backers say the measure will create jobs. Critics say the bill is so riddled with gifts for big business that it's beginning to look like a Christmas tree.
Peter Viles reports.
(BEGIN VIDEOTAPE)
PETER VILES, CNN CORRESPONDENT (voice-over): Only in Washington does Christmas come in June in the form of a $149 billion tax cut for corporate America, special presents in there for tobacco farmers, for the makers of bows and arrows and fishing tackle boxes, and for Eskimos that hunt whales. The 400-page bill was supposed to fix a simple problem, $4 billion in tax breaks ruled illegal by the World Trade Organization.
...... see link for FULL transcript, it's too long to post in here as text, sorry.
---------------------- Any help would be greatful, thanks.
CORPORATIONS ARE IN COMPETITION WITH OTHER CORPORATIONS IN THEIR FIELD AND THEY HAVE TO COMPETE IN PRICE, PRODUCTION/LABOR/DIST. COSTS.
Taxes are AN EXPENSE!!!!!! They have to pass that expense on to the consumer cause they have to make a profit. IF THEY TRY TO MAKE TO MUCH PROFIT, THEIR COMPETITORS TAKE AWAY THEIR MARKET SHARE.
sending jobs offshore, which needs to STOP!!!!! If the corp. is making a quality product AND has quality customer service, it will pull ahead of the pack in the near future. Poor customer service has plaqued every industry for many years now and people are getting sick of it and will be willing to pay a little more for quality customer service from a person they can understand on the telephone.
OOPS, I may have spoken too soon. With the inflation that is slowly hitting us, customer service will be non-existant, and we will buy products made in 3rd world countries by slave labor that will break the second time we use them (if they ever work at all).
You're in the trenches every day- pricing product, selling product, going toe to toe with the competition (and I'm sure you use the Duke of Marlbourgh rules too).
I know you pay taxes. The point I was trying to make is that you have to price for taxes as you have to pass that expense on to the customer. And you have to pay the taxes before you pay yourself. I used a little bit of literary gymnastics in the hope that more people would read the subject but it's already pretty far down the page. How little most gen Xers and even boomers know about history and economics really freaks me out.
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