Where Are Those Jobs?
As we approach the one-year anniversary of the Orwellianly-named American Jobs Creation Act of 2004, A Taxing Matter takes a look back and concludes that the results have been exactly what would have been expected at the time of passage -- big tax benefits for corporations that have done business abroad while keeping their money overseas, and nothing for jobs here at home:
Tim Johnson voted for it.
The Wall Street Journal's front page story today (see above) notes that several of the companies that are bringing home large amounts of cash are simultaneously pursuing plans to lay off workers. An example is Colgate-Palmolive, which announced in July that it would repatriate $800 million and announced plans to lay off 4,450 people over the next four years.Maybe that's why Illinois Repulicans Ray LaHood and Mark Kirk voted against it, as did Illinois native Jim Sensenbrenner (R-WI).
Tim Johnson voted for it.
posted by Michael | 3:02 AM
2 Comments:
Thanks, Philosophe, for the tip on the spam.
As for the Gasoline bill, Johnson voted against it, but he also voted against the Democratic effort to send it back to committee, which would have killed or at least substantially delayed it. I may try to address this further later in the week].
Great blog yyou have
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