Senator Ensign Offers Amendment To Encourage Investment In The Usa

[nevadamedic]

A Quick Stimulus That Would Create Jobs



January 30, 2008



Washington, D.C. – Senator John Ensign offered an amendment today in the Finance Committee that would result in a quick, strategic and long-term boost to the U.S. economy. Ensign’s repatriation amendment would improve the economic stimulus package by encouraging American companies to return foreign earnings to the United States through a temporary tax break.



“All of the talk has been to provide a timely boost to the economy with a stimulus package that will quickly take effect,” said Ensign. “But much of what we’ve seen would not provide much help immediately. My amendment would do just that and has proven to do so in the past.”



Ensign’s amendment is similar to the provision he included in the 2004 JOBS bill. As a result of this bipartisan provision, U.S. companies brought about $360 billion back into the United States to invest here. This was more than twice the amount estimated by the Joint Committee on Taxation. One study estimated that 82 percent of the repatriated earnings went to domestic capital investment, hiring and training employees, research and development, debt reduction and acquisitions. Ensign’s amendment does not allow the money to be used to increase the salaries of company executives.



“The amendment that I offered today would certainly stimulate the economy, and it would do it quickly through investment and job creation here at home,” said Ensign, a member of the Finance Committee.



The temporary tax rate reduction would be from 35% to 5.25%. The 2004 provision was a revenue raiser for the federal government generating approximately $18 billion in new revenue for the U.S. Treasury.

More information
www.ensign.senate.gov

Everyone should call this man and thank him for the job he is doing.:salute:

[5stringJeff]

Temporary tax breaks won't encourage long-term change in businesses. Permanent tax breaks will.

[Joe Steel]

Tax reductions for corporations are a bad idea. To the extent the firm can pass-along its taxes to its customers, business taxes are a good way to tax income (in the form consumers' disposable income) which otherwise escapes taxation. The key is to tax only high-end items, whether domestic or imported. These are purchased mainly by the rich and they have escaped equitable taxation for far too long.

[5stringJeff]

Tax reductions for corporations are a bad idea. To the extent the firm can pass-along its taxes to its customers, business taxes are a good way to tax income (in the form consumers' disposable income) which otherwise escapes taxation. The key is to tax only high-end items, whether domestic or imported. These are purchased mainly by the rich and they have escaped equitable taxation for far too long.

Wow... soak everyone through corporate taxation, eh? At least you're consistent.

I suppose you think North Korea's got a pretty good system?

[Joe Steel]

Wow... soak everyone through corporate taxation, eh? At least you're consistent.

I suppose you think North Korea's got a pretty good system?

I have no comment on North Korea. The US system, however, is far too tolerant of tax scheming in favor of the rich.

[avatar4321]

Tax reductions for corporations are a bad idea. To the extent the firm can pass-along its taxes to its customers, business taxes are a good way to tax income (in the form consumers' disposable income) which otherwise escapes taxation. The key is to tax only high-end items, whether domestic or imported. These are purchased mainly by the rich and they have escaped equitable taxation for far too long.

its people like you that are the exact reason so many corporations are moving their places of business offshore to escape our tax system. We already have one of the largest corporate taxes in the industrial world. And those taxes cost Americans jobs. I hope you are happy with yourself.

[Joe Steel]

its people like you that are the exact reason so many corporations are moving their places of business offshore to escape our tax system. We already have one of the largest corporate taxes in the industrial world. And those taxes cost Americans jobs. I hope you are happy with yourself.

To the contrary, those like you make offshoring corporate profits possible. You drink the corporatist kool-aid and ask for more. They're happy to give you what you want.

Corporations run on greed. They'll go wherever the profits are. The way to keep them in the US is to make leaving more expensive than staying. If the want access to US markets, make them pay for it. For example, any firm operating in the US should have significant facilities, both productive and administrative, in the US. If they don't want to do that, tax the goods and services they import to the US. Raise the price until domestic products are cheaper. American economic policy should serve American citizens first.

[MtnBiker]

You want the consumer to pay more for goods?

Corporations do not pay taxes, they only pass them along in the price of their products.

[avatar4321]

To the contrary, those like you make offshoring corporate profits possible. You drink the corporatist kool-aid and ask for more. They're happy to give you what you want.

Corporations run on greed. They'll go wherever the profits are. The way to keep them in the US is to make leaving more expensive than staying. If the want access to US markets, make them pay for it. For example, any firm operating in the US should have significant facilities, both productive and administrative, in the US. If they don't want to do that, tax the goods and services they import to the US. Raise the price until domestic products are cheaper. American economic policy should serve American citizens first.

Um yeah you make leaving more expensive by lowering Taxes in America. It's so freaking obvious that a child can understand it.

[Dilloduck]

To the contrary, those like you make offshoring corporate profits possible. You drink the corporatist kool-aid and ask for more. They're happy to give you what you want.

Corporations run on greed. They'll go wherever the profits are. The way to keep them in the US is to make leaving more expensive than staying. If the want access to US markets, make them pay for it. For example, any firm operating in the US should have significant facilities, both productive and administrative, in the US. If they don't want to do that, tax the goods and services they import to the US. Raise the price until domestic products are cheaper. American economic policy should serve American citizens first.

Americans are dependent on corporations. Why bite the hand that feeds you?

[avatar4321]

Americans are dependent on corporations. Why bite the hand that feeds you?

more to the point. its American citizens who create corporations, who create jobs.

And why should we accepet the premise that profit is bad? It's not. Wages are payment for labor, profit is payment for capital. If capital doesnt make any profit, there will be no investment. period. There isnt even a question there.

Companies that dont make profits, cant function. Profits are good!

[Dilloduck]

more to the point. its American citizens who create corporations, who create jobs.

And why should we accepet the premise that profit is bad? It's not. Wages are payment for labor, profit is payment for capital. If capital doesnt make any profit, there will be no investment. period. There isnt even a question there.

Companies that dont make profits, cant function. Profits are good!

I was including financially dependent. Americans profit when corporations profit.