The Rising Influence of Rising Affluence

[Dotsconnectors]

This loss of at least 2.4 million jobs in the 2000s, resulting from the actions of U.S. multinational alone is the poison a “tax-cut run amok” can produce and which can’t be corrected due the anti-tax pledges to Americans for Tax Reform (ATR).

This “tax-cut run amok” is the second destroyer of competitiveness cites in Dotsconnectors’ reply to a free trader’s review of Death by China titled “Surprised” at:

http://www.amazon.com/review/R1CLCBIO9V6SMH/ref=cm_cr_pr_viewpnt#R1CLCBIO9V6SMH

Relevant text relating to this grossly counterproductive tax-cut follows:

“The second is a change in U.S. Corporate Tax Regulations, dating back to 1997, which began allowing U.S. Corporation the deferral of payment of tax for foreign earnings, as long as those earnings were not returned to the United State. The result is not only the loss of U.S. tax revenue but also an incentive for the remove of capital and with capital the related jobs.”

This tax-deferral may ultimately rank as the most fiscally, economically and politically irresponsible tax incentive in the history of the republic.