All political power is inherent in the people, and governments derive their just powers from the consent of the governed, and are established to protect and maintain individual rights.

Sunday, October 17, 2010

Does Dino Rossi Really Support Tax Loopholes?

The Democratic Party and Patty Murray carry ads announcing "Dino [Rossi] supports keeping tax loopholes for corporations that send our jobs overseas."

The Democratic Party controlled government has spent a lot of our money, so they are hungry to tax us. Mr Obama targeted American based corporations who manage overseas operation from America. He seeks to disallow the tax deduction of the cost of American operations.

Management is an expense. If an international company cannot deduct the expense of the American based operations, the company will not keep any operation in America. The effect of disallowing cost deduction of American management will send the management jobs overseas. The Democratic Party proposal will have the opposite effect of what they claim; their policies will ship American jobs overseas.

There is second prong. Murray attacks what is called "foreign tax credit." If an American corporation has foreign taxes assessed, the corporation can deduct the tax from the American tax bill. As you would expect, the American tax credit has percentages and limits applied to it, so sometimes the whole foreign tax is not offset, but the basic idea is fair: American companies should not be double taxed.

Patty Murray is against it. She pushed a bill through Congress to decrease the allowance for foreign taxes. That will increase the amount of double taxation on American corporations. That also will also encourage American multinationals to leave the US.

Patty Murray is practicing the same economics which Washington State did when they drove Boeing headquarters out of Washington. Meanwhile she claims she is for the worker. But workers have to have jobs. Patty Murray does not seem to understand this.

Beating up corporations and management is the wrong way to restore the economy. Patty Murray's ideas are old and too outmoded. She has been in office for 18 years. Its time to say goodbye to Patty Murray.

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Dino Rossi signed a "Taxpayer Protection Pledge." the pledge means Rossi pledges to oppose any increase in taxes or any net reduction in tax credits -- for all taxpayers. Its time to vote for Dino Rossi for the US Senate.

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King5 posted an article and video critical of Murray's recent attack ad. This is interesting, since KING5 Broadcasting was a major endorser of Murray 18 years ago.

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Some Democrats have reservations about such whole-hearted attack on American corporations. Patty Murray may not comprehend how much damage her policies will inflict.

4 comments:

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  3. M. skeetlarconner must be a victim of the public school system.

    Politics is the sport of kings. The People must rule this country.

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