Where is our prosperity? Where are our jobs? We were told low taxes meant job creation!

[ck4829]

Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.

The study by the Government Accountability Office released Tuesday said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.

Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate.

"It's shameful that so many corporations make big profits and pay nothing to support our country," said Sen. Byron Dorgan, D-N.D., who asked for the GAO study with Sen. Carl Levin, D-Mich.

http://www.huffingtonpost.com/2008/08/12/representation-without-ta_n_118455.html

Where is our prosperity at?

Where are our jobs at?

[OhioChick]

1. Ummm....

The "prosperity" is in the pockets of CEO's and the "jobs" are overseas.

[gratuitous]

2. Yeah! It's been what, two or three weeks?

Why doesn't President Obama just wave a magic wand and undo 30 years of institutional rot and corruption? And now it's been another 30 seconds! Goddammit, is it too early to talk impeachment?!

[ck4829]

3. A guy can't attack Republicans and conservative policies anymore...

Without someone else thinking the first person is secretly talking about Obama?

Is that what it is now?

Obama wasn't on my mind when I was writing this post, but if you say so...

[TheWatcher]

4. No, you must blindly worship, goose-step and believe unquestioningly.

Besides, look at what the Stock Market is doing.

All you need is "hope" and "optimism" and everything just magically falls into place!

Stop being such a DU Downer!

The Recovery Is Here!

:sarcasm:

[Proud Liberal Dem]

5. I don't think the previous poster was referring to Obama

He was talking about Reagan's "trickle-down" economic philosophy that has informed our country's economic polices for the last nearly 30 years. AFAIK I don't think Obama subscribes to it.

[Stuart G]

6. The Republicans were so wrong, and of course, they will not admit it. nt

[AndyA]

7. This is exactly right.

Those Bush tax cuts were supposed to create jobs. Well, 8 years later the economy is in the toilet. Unemployment is up. Job growth is nil. Outsourcing has run rampant during the Bush years.

Bush created a false economy based on easy availability of credit, no checks and balances, and an attitude that what was good for corporate America would be good for everyone.

It doesn't take an economist to see that just can't work. We've become a nation that doesn't make anything. We consume. But in order to continue consuming, we have to have income and with jobs going overseas, there just hasn't been enough job growth to support the economy.

Taxes pay the bills in this country, and when America's wealthiest people and top corporations don't pay their fair share, we wind up in the situation we have right now. We can't have decent roads, safe bridges, safe food, or anything else that benefits the public without taxes paying the bills.

The Republicans don't have anything except cutting taxes, and that simply does not work. I want the Dems in Congress to start asking the GOP where all the jobs are after 8 years of tax cuts. Where are they? The GOP needs to prove to America that tax cuts work.

But they can't do that, because tax cuts obviously don't work unless they are given to people who will actually spend the extra money tax cuts provide them.

[Prisoner_Number_Six]

8. Everything's in India now.

Most especially our jobs.

:cry:

[havocmom]

9. Those who don't study history are destined to repeat it?

Yeah, I DO think unpaid mandates for schools causing budget crunches and forcing lower standards was part of the GOPigs' long term plan.

[leftofthedial]

10. That stuff you feel trickling down?

It ain't money.

[HughBeaumont]

11. "It's Horseshit, Eddie"

Majuh Horsesheeet.

Much like all Republican ideology, it's Reader's Digest cornpone for non-thinkers.

[earth mom]

12. Wake up and smell the corruption. They've stolen everything but the kitchen sink.

:grr:

[applegrove]

13. Failed policy. All it did was create a bubble.