but, i didn't hear about it until yesterday while reading Mother Jones hmmm i wonder why?)....this huge tax giveaway was one of the BIGGEST giveaways in over 20 years to corporations...the president had nothing to brag about and his signature expanded exactly the sort of tax avoidance Bush* had railed against at a campaign rally that same morning in Wilkes-Barre, PA saying, "The rich hire lawyers and accountants for a reason when it comes to taxes. That's to slip the bill and stick you with it."
"American Jobs Creation Act of 2004" Though the law began as an effort to end a $5 billion-a-year corporate tax subsidy that had been declared illegal by the WTO, it had grown into a hydra-headed beast. The laws author Bill Thomas (R) referred to it as "Miss Piggy" (Hey Rude!)
Corporate taxes are at their lowest level in 20 years. Nearly 95% of corporations now pay LESS than 5% of their income in taxes. This despite a tax rate that officially stands at 35%. Cont.