Most Americans have never heard of the Foreign Investment Tax Credit and few politicians have chosen to educate them on this issue. Yet in this election year as more and more American jobs continue to be exported at an alarming rate, with all of the attendant economic and social dislocation this entails, it is high time that Americans learn about the economic incentives that the tax code currently gives multinational corporations to do exactly that.
President Bush is getting ready to make a speech about the economy, filled with the usual assurances that he feels our pain, and the inevitable talk of sacrifice (yours) for the good of the nation (his).
But Bush helped create this problem by giving tax breaks to corporations to make it easier for them to export high paying jobs to other countries!
This is the government that CREATED this economic mess, and their only solution will be to raise taxes yet again, to pour money into the banks and investment houses.
But giving more money to this government is like handing a bottle of scotch and the keys to the family car to a bunch of teenage boys. It is NOT a good idea, and it won;t really solve anything. It will just make matters worse. We already give government half of all of our money and look what they did with it. Will they do any better with the other half?