Friday - October 22, 2004

It’s The Economy, Stupid!

This just in on the news wires: Senator Fuckface has lost the economy as a campaign tactic. Go Bush!

President Bush Signs Jobs Legislation

Legislation cuts the corporate tax rate and removes tariffs on American companies

WASHINGTON, D.C. - Today, President George W. Bush signed the JOBS Act which reduces corporate tax rates for domestic manufacturers, allows American companies to repatriate their foreign profits back into America at a lower tax rate, and most importantly, remove tariffs being placed on American companies by the European Union (EU).

The importance of this legislation to American taxpayers, workers, and economy cannot be underestimated. The legislation signed by President Bush today removes tariffs being placed on American companies, which is the equivalent of a $4 billion tax cut per year for American businesses and workers. The previous Foreign Sales Corporations (FSCs) and the extraterritorial income exclusion (ETI) export subsidies were found to be in violation of World Trade Organization (WTO) agreements. As a result, the EU was imposing tariffs on American companies at 12 percent, which were acting like a tax on American businesses and workers. These tariffs were obviously inflicting damage on the U.S. economy.

“Today, President Bush signed legislation removing discriminatory tariffs being placed on American companies and cutting taxes for American manufacturers to make our economy more competitive globally,” said Grover Norquist, president of Americans for Tax Reform. “These provisions will boost jobs and growth in America, but today’s signing also leaves Sen. John Kerry with no economic plan.”

With just 11 days to go until the presidential election, Democratic presidential candidate Kerry has no economic plan left. The Kerry plan for 10 million jobs relied on cutting the corporate tax rate for domestic manufacturers by 5 percent and allowing companies to repatriate their foreign profits back into America at a 10 percent tax rate. The legislation signed by President Bush today cuts the corporate tax rate by 9 percent and allows companies to repatriate their foreign profits back into America at a 5.25 percent rate. So not only has this legislation removed the Kerry team from having an economic plan, the legislation signed by Bush is superior in economic growth.

“The only two provisions left in the Kerry economic plan are raising taxes on America’s small businesses and a 1970’s era job tax credit that did not work then and definitely will not work now,” continued Norquist. “I find it quite ironic after all of Kerry’s complaining about jobs and his “plan” for these jobs, he has absolutely no plan 11 days before election other than to damage the American economy.”

_{Americans for Tax Reform (ATR) is a non-partisan coalition of taxpayers and taxpayer groups who oppose all federal, state and local tax increases.}

For more information or to arrange an interview, please contact Chris Butler at (202) 785-0266 or at cbutler@atr.org.

Posted by The Skipper     on 10/22/2004 at 12:51 PM   
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Not that very many people ever read this far down, but this blog was the creation of Allan Kelly and his friend Vilmar. Vilmar moved on to his own blog some time ago, and Allan ran this place alone until his sudden and unexpected death partway through 2006. We all miss him. A lot. Even though he is gone this site will always still be more than a little bit his. We who are left to carry on the BMEWS tradition owe him a great debt of gratitude, and we hope to be able to pay that back by following his last advice to us all:

1. Keep a firm grasp of Right and Wrong
2. Stay involved with government on every level and don't let those bastards get away with a thing
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It's been a long strange trip without you Skipper, but thanks for pointing us in the right direction and giving us a swift kick in the behind to get us going. Keep lookin' down on us, will ya? Thanks.

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