I HAVE RECIEVED A NICE LETTER FROM DEMOCRATIC REPRESENATIVE PAUL TONKO IN REPLY TO MY REPORTING TO HIM ON THE FORIEGN TAX CREDIT AND THE MANNER THAT G E IS USING IT TO AVOID PAYING ANY DOMESTICE INCOME TAX.
IN HIS LETTER HE STATES THAT HE WILL BE INTRODUCING LEGISLATION TO "CLOSE SOME OF THE MOST EGREGIOUS LOOPHOLES TO BIG OIL COMPANIES AND PUT THOSE SAVINGS TOWARD RENEWABLE ENERGY INITIATIVES, ALTERNATE FUEL TECHNOLOGY AND CLEAN ENERGY JOBS". TYPICAL HEAD UP THE ___ OF THOSE WHO WANT TO PROLONG THE CURRENT UNAFFORDABLE INCREASE IN THE ENERGY CONSUMPTION EXPENSE WE ALL NEED TO SURVIVE. MORE EXPENSIVE INVESTMENT OF OUR MONEY IN THE EXPERIMENTS OF THE PAST 25 YEARS THAT HAVE NOT PRODUCED ANY BENIFIT TO US, RATHER THAN TO APPLY ANY SAVINGS TO THE NATIONAL DEBT THAT THESE SAME PROGRAMS HAVE MADE A CONSIDERABLE CONTRIBUTION TO SHOULD BE LIMITED TO 20% OF THE PROJECTED COST. I WILL BE RESPONDING TO MR TONKOS LETTER WITH MY OWN RECOMENDATIONS TO REFORM THE FORIEGN TAX CREDIT AND ALL, OTHER TAX BENIFITS THAT ENCOURAGE AMERICAN COMPANYS TO EXPORT OUR DEVELOPED MANUFACTURING AND PRODUCTION METHODS AND JOBS OVERSEAS.
I WILL RECOMEND THAT CERTAIN REQUIREMENTS BE MET BEFORE AN FINANCIAL SUBSIDIES OR BAIL OUT FUNDS CAN BE HANDED OUT.
REQUIREMENT #1 SUBSIDIES SHALL NOT BE GRANTED TO ANY COMPANY WHO HAS DEMONSTRATED A WILLINGNESS TO TRANSFER MANUFACTUERING OR PRODUCTION ACTIVITIES TO ANY ENTITY OUTSIDE OF THE UNITED STATES, ITS TERRETORIES AND POSSESSIONS.
REQUIREMENT #2 INCOME TAX CREDITS WILL NOT BE AVAILABLE TO ANY COMPANY WHO MAINTAINS ANY FORIEGN OPERATIONS EXCEPT FOR MARKETING PURPOSES FOR PRODUCTS MADE IN AMERICA BY AMERICANS.
REQIREMENT#3 ANY AMERICAN COMPANY MANUFACTURING AND PRODUCING ANY TYPE OF GOODS SHALL BE SUBJECT TO IMPORTING TARIFFS IF THOSE GOODS AND PRODUCTS ARE EXPORTED INTO THE UNITED STATES, ITS TERRETORIES OR POSSESSIONS.
REQUIREMENT #4 THE IMPOSITION OF EXPORT TARRIFS ON ANY COMPANY EXPORTING ANY FORM OF MANUFACTURING OR PRODUCTION ACTIVITIES OR EXPERTISE DEVELOPED IN THE UNITED STATES.
REQUIREMENT #5 THE IMPOSITION OF IMPORT TARRIFS ON ANY IMPORTING OF ANY TYPE OF LABOR WITH NTHE INTENT OF USING THAT LABOR TO REPLACE ANY AMERICAN LEGALIZED CITIZEN.
I WOULD APPRECIATE COMMENTS AND OPINIONS ON THESE REQUIREMENTS
Comments