Latest topics
» I see this board has been quiet
Tue Jun 07, 2016 1:24 pm by Knight1009

» Hello Ya'll. *Theirmommie*
Tue Nov 17, 2015 9:42 am by my_lucid_bubble72

» 20 % of Americans Struggle To Buy Food
Thu Jul 16, 2015 1:00 pm by pbrad009

» The Make Some One Day Challenge
Wed May 27, 2015 12:32 pm by Prof_NSA

» Clues to why they not hiring you
Sun Apr 05, 2015 5:25 pm by Sandra5yearsunemployed

» New Year Nothing Change
Tue Jan 20, 2015 5:48 pm by Prof_NSA

» UF2 Members Chat Thread: Part 3
Mon Jan 19, 2015 4:01 pm by member

» Passed?!?! H.R. 3979: Emergency Unemployment Compensation Extension Act of 2014
Fri Dec 19, 2014 4:24 pm by charliekerper

» Forbes: America's #1 Problem is Jobs, Not Debt
Sat Nov 15, 2014 10:50 pm by jmainframe

» Economy just getting worse
Mon Oct 06, 2014 12:16 pm by oncemore

» UFO 2.1 VIDEO JUKEBOX - Our Chords & Keys To Ascension
Mon Oct 06, 2014 6:33 am by 

» January Jobs Report: U.S. Economy Adds 157,000 Jobs; Unemployment Rate Up To 7.9 Percent
Fri Oct 03, 2014 11:23 am by DesperateInRI

» Hey Guys!!!!
Mon Sep 29, 2014 9:17 am by pbrad009

» Up all NIGHT WORRIED!
Thu Sep 25, 2014 11:56 pm by pbrad009

» things are going to get worst
Sun Sep 21, 2014 7:51 pm by 

Social Networks
September 2016
SunMonTueWedThuFriSat
    123
45678910
11121314151617
18192021222324
252627282930 

Calendar Calendar


Why Big Corporations Lobby Against Bill Extending Jobless Benefits

View previous topic View next topic Go down

Why Big Corporations Lobby Against Bill Extending Jobless Benefits

Post by js123 on Mon Mar 21, 2011 12:43 am

I couldn't understand why it is difficult for us to get the unemployment benefits extention. By reading this article, now I know. It isn't about Obama, republicans or democrats, no, it's about the corporations. With the extension, it would close loopholes that would allow the corporations to claim tax credits on profits earned overseas. Over 25 million Americans now are going without shelter, food, medical care; but corporations are becoming wealthy. THAT IS THE SAD TRUTH!

Dated: May 25, 2010

"This week, the House of Representatives is trying to pull together a package extending several popular tax breaks as well as important social safety net provisions like unemployment benefits and health insurance subsidies for laid-off workers. The bill costs about $200 billion, but is partially offset by a few tax changes, including the closing of a loophole that allow corporations to claim U.S. tax credits on profits earned overseas.

These unjustified tax breaks have been on the radar of Congress’ tax writers for the last few years, but so far they’ve remained in the tax code due to the pressure of big corporations, which obviously want to preserve their ability to exploit the tax code’s quirks. This time, even though the bill before Congress extends some of their favored tax provisions, like the Research and Development tax credit, the Big Business lobby is at it again, fighting to preserve its ability to use tax loopholes, at the expense of its own tax credits and the extension of unemployment benefits:

International Business Machines Corp. and trade groups for major U.S. companies are pressing Congress to defeat a jobs bill containing billions of dollars in taxes on their global operations…In a letter to lawmakers yesterday, Armonk, New York-based IBM, the world’s biggest computer-services provider, told lawmakers it “strongly opposes” the legislation and would rather do without the research credit than face new taxes on overseas profits.
The Chamber of Commerce has, of course, weighed in on behalf of big business, claiming that the legislation is a “job killer.” Closing the loophole in question would raise about $14.5 billion over ten years, or about $1.5 billion per year from the entire multinational corporation community."

http://wonkroom.thinkprogress.org/2010/05/25/corporate-unemploy-loophole/


js123
Member

Posts : 76
Join date : 2011-02-21
Age : 57
Location : AZ

Back to top Go down

Re: Why Big Corporations Lobby Against Bill Extending Jobless Benefits

Post by mistermunster on Mon Mar 21, 2011 1:45 am

This is kind of OLD news. Way before the election and now we see their plan in action today.

mistermunster
Member

Posts : 847
Join date : 2011-02-19
Age : 54
Location : ca

Back to top Go down

Re: Why Big Corporations Lobby Against Bill Extending Jobless Benefits

Post by js123 on Mon Mar 21, 2011 1:53 am

I thought this should give us an idea of why Congress will not give us any more unemployment extensions, especially the 99ers. It hurts corporations big time, it affects their tax credits on the overseas profits.

js123
Member

Posts : 76
Join date : 2011-02-21
Age : 57
Location : AZ

Back to top Go down

Re: Why Big Corporations Lobby Against Bill Extending Jobless Benefits

Post by Really? on Mon Mar 21, 2011 3:23 am

This is very old news, the article is dated may 2010, almost a year ago.

Really?
Member

Posts : 39
Join date : 2011-03-20

Back to top Go down

Re: Why Big Corporations Lobby Against Bill Extending Jobless Benefits

Post by Guest on Mon Mar 21, 2011 9:30 am

I did not see this when it came out...thanks for posting it js123. Very interesting....it seems everything revolves around big corporations and tax cuts. Evil or Very Mad

Guest
Guest


Back to top Go down

Re: Why Big Corporations Lobby Against Bill Extending Jobless Benefits

Post by Guest on Mon Mar 21, 2011 10:08 am

BLeep

Guest
Guest


Back to top Go down

Re: Why Big Corporations Lobby Against Bill Extending Jobless Benefits

Post by Jobless_in_Ma on Mon Mar 21, 2011 4:45 pm

bounce

_________________
Thanks to all members for participating in the discussions.

Jobless_in_Ma
Administrator
Administrator

Posts : 2348
Join date : 2011-02-16
Age : 42
Location : Ma

http://www.unemployed-friends2.org

Back to top Go down

Re: Why Big Corporations Lobby Against Bill Extending Jobless Benefits

Post by js123 on Mon Mar 21, 2011 5:02 pm

Really? wrote:This is very old news, the article is dated may 2010, almost a year ago.



js123
Member

Posts : 76
Join date : 2011-02-21
Age : 57
Location : AZ

Back to top Go down

Re: Why Big Corporations Lobby Against Bill Extending Jobless Benefits

Post by Sponsored content Today at 4:12 am


Sponsored content


Back to top Go down

View previous topic View next topic Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum