repatriation

Austerity For Thee But Not For Me, Inc.

Austerity. Just what you wanted for Christmas. From McClatchy:

CHARLOTTE, N.C. — A group co-founded by Charlottean Erskine Bowles brings its campaign to reduce the federal debt to North Carolina next week, making the state the latest front in the battle to avert the “fiscal cliff.”

Two former governors – Democrat Jim Hunt and Republican Jim Holshouser – will launch Fix the Debt’s N.C. chapter at a news conference Tuesday in Raleigh.

[...]

Fix the Debt was founded by Bowles and Alan Simpson, a former U.S. senator from Wyoming. They chaired the so-called Bowles-Simpson commission that two years ago proposed a package of spending cuts and tax hikes to begin reducing the federal debt, now estimated at over $16 trillion.

Kay Hagan--Tax Avoidance by Corporate Profits Repatriation-She has a little bill

I did not see any mention of Kay Hagan working with McClain in Senate on bill to repatriate some trillions of corporate profits stranded offshore at some ridiculously low (5%?) rate. Check N&O last Friday, Oct 7, 2011. She waxes righteous about making sure that if companies do not comply with concurrent jobs creation part of the bill, we could clawback some of the money. Now, for starters that is sheer horse pooky. The Obama Justice Dpt has not managed to enforce anything of value or pursue massive leads from the financial sector. The SEC is piddling in place, as is the FDIC, OCC and all the other underfunded watchdogs.

Kay is frankly a Republican, disguised as a Blue Dog, and secure in her seat until 2014, when as result of this play, she will be showered with corporate plunder randomly by all. Her arguments are of the caliber one would expect from a fourth grader, not a legislator, attorney and ex-banker (oops, that is the real problem).

Hagan holding the football

As the tumult over the S&P downgrade of U.S. debt continues, so does the fleecing of America. We are discussing slashing safety net programs that protect average citizens without jobs in this economy. Meanwhile, Washington considers the Freedom to Invest Act of 2011 (H.R.1834), corporate welfare for "super citizen" companies that moved those jobs offshore and hid profits there, too. The bill's sponsor, Rep. Kevin Brady (R-Texas) received moral support last week from NC Democrat Sen. Kay Hagan:

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