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US corporate tax breaks

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  • US corporate tax breaks

    I'm all for it - provided there are strings attached. On a side note, to says corporations pay 35% tax is a half truth. Yes, they pay 35% on certain things, provided they do not have an exemption or write off. There are corporations in the U.S. that pay little or no taxes at all, because they have good accountants and assets parked outside the country.

    The last time we gave big business a tax holiday was 2005, with the promise that 500,000 jobs would be created as companies paid down debt and promised to invest in R & D and capital investments. The jobs never came. Corporations increased their CEOs salaries and compensation, and actually cut jobs. (See Eduardo Porter's article in the NY Times.)

    This time around it would be nice to see concrete plans on how the money will be used - and some consequences if it just goes into the Board of Directors' pockets. Won't happen though - the lobbyists will see to that.

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