Lies about “repatriation” from the media and elites. Most of the targeted cash is already in U.S. banks.
Stagnant wages. Windfalls for the politically connected. A new tax plan primarily for the rich.
Just 13 years have passed since the 2004 tax repatriation holiday, which created nearly no new jobs for American workers, but was instead used almost entirely by multinationals for stock dividends and buybacks. Many corporate execs and shareholders became instantly rich from this tax holiday, while workers’ wages were stagnant.
The GOP’s new plan is more of the same for one simple reason:
That $2.6 trillion, which every politician and media pundit loves to cite as a boon to America, cannot come back to the United states, because the vast majority of the money is already here.
This cash is invested in U.S. Treasury notes, U.S. agency securities, U.S. mortgage backed securities, or U.S. dollar-denominated corporate notes and bonds. And no corporate income tax has been levied on these trillions of dollars. Continue reading →
Thursday was another bad day for American jobs as Microsoft – the once All American innovator – began to end the livelihoods of 3,000 families, a process called “downsizing” by the elites.
A spokesperson for founder Bill Gates called this job slaughter simply “changes” to “better serve our customers and partners.”
Today, we are taking steps to notify some employees that their jobs are under consideration or that their positions will be eliminated,” the Microsoft spokesperson told CNBC. “Like all companies, we evaluate our business on a regular basis. This can result in increased investment in some places and, from time-to-time, re-deployment in others.
Meanwhile, foreign workers are being hired by the Seattle gang through the H-1B visa and Optional Practical Training (OPT) program. Microsoft is one of the top recruiters of the some 330,000 foreign nationals (in 2016), who get to remain in the U.S. after graduating from Continue reading →
Cascade Investment LLC is a private investment and holding company.
The company describes itself as a diversified investment company. Its investments include more than half the Bill Gates fortune:
- Auto Nation
- Berkshire Hathaway
- Canadian National Railway
- Dante Giovanni Corporation
- Coca Cola Femsa SAB de CV – 20% stake
- Cox Communications
- FEMSA (Mexican brewer)
- Four Seasons Hotels and Resorts – 42.5 percent
- Newport News Shipbuilding
- Otter Tail Power Company
- Pan American Silver Corporation
- Republic Services, Inc
- Sapphire Energy
- Schnitzer Steel Industries
- Wisconsin Central Transportation
No wonder Gates favors unlimited immigration and H-1b visas, changes in law that would benefit his financial interests by lowering wages and increasing American unemployment.