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Lobbying Pays: University of Kansas researchers, reporting in April, disclosed that a single tax provision in a 2004 law (allowing U.S. multinational corporations to avoid federal tax on foreign profits) gained a typical company $220 for every $1 the company had spent lobbying Congress to enact that provision. Among the big winners was the Eli Lilly pharmaceutical company, which disclosed spending $8.5 million to lobby for the law and gaining a tax break of more than $2 billion. (The lobbying emphasized that the lower tax would enable the companies to create more jobs, but the Congressional Research Service found that most of the tax savings went to pay dividends or buy back company stock.) [Washington Post, 4-12-09]
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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quote:Originally posted by Machiavelli: I wonder what anti-Dem tirade Cowman is going to say about this... lol
Well even though there was a GOP president and congress in 2004, somehow it will be the fall of the Democrats.
-------------------- It is impossible to make anything foolproof because fools are so ingenious. Posts: 3311 | From: St. Louis | Registered: Feb 2005
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-------------------- It isn't so much that liberals are ignorant. It's just that they know so many things that aren't so. Posts: 6949 | Registered: Apr 2004
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