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View Diary: Democratic Senator To MORE IT Workers: No More Pay For Your Overtime Work (262 comments)

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  •  Sen. Hagan's Sponsorship: No Surprise (1+ / 0-)
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    Kay is and always has been a corporatist politician. She operates under the naive belief that by joining forces with Senators Enzi (R-WY) and Isakson (R-GA) she is ushering in an era of bipartisanship. Her support for this legislation is no more than a hat tip to corporate America. Consciously or not she is a disciple of trickle down economic theory.

    This was not the only bill she sponsored in October. She and Sen. McCain sponsored the Foreign Earnings Reinvestment Act in another show of bipartisanship. That legislation was an ~$300 million bounty to American corporations that shelter profits abroad.
    In return for the repatriation of an expected $1 trillion in profits, those earning would only be taxed at rates between 5.25% and 8.75% in lieu of the normal 35% corporate tax rate. Sen. Hagan spun that legislation as a jobs bill, notwithstanding the fact that US corporations are already sitting on about $2 trillion in cash. She held a press conference to unveil the legislation at the HQ of an international corporation based in Research Triangle Park, NC flanked by corporate CEOs and the Chamber of Commerce.

    The only bipartisanship that legislation has garnered thus far has been opposition by both the Heritage Foundation and the Institute for Policy Studies.

    Obviously I understand Sen. Hagan well. I was neither surprised by her introduction of these bills nor the parties that they benefit.
    •  We got a notice in the mail this weekend (1+ / 0-)
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      Jim Neal

      The U.S. government has signed some kind of new treaty with Denmark, so now my husband's bank and retirement accounts over there (his home country) will be sending earnings statements directly to the U.S. government so we can't fudge our personal tax returns and avoid paying tax on that $20 a year his money earns over there.

      At the full individual tax rate, of course. No "repatriation holiday" for us schmoes!

    •  The Only Way to Compromise with a Republican (1+ / 0-)
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      Jim Neal

      Is to do it their Way!  Bend Over and tell them Thanks, That was Nice!

      Republicans Don't Compromise!  They insist that it has to be their Way, Only Their Way, And All Their Way.  Then, they  will allow you to put your name on it and call it a Compromise.

      Hope the Senator Hagan enjoyed it!

      Impeach Grover Norquist! Defeat a Republican!

      by NM Ray on Mon Dec 12, 2011 at 02:50:01 PM PST

      [ Parent ]

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