Suggested Discussion Outline

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johnkarls
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Joined: Fri Jun 29, 2007 8:43 pm

Suggested Discussion Outline

Post by johnkarls »

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SUGGESTED DISCUSSION OUTLINE

Challenging the thesis of our suggested book (Debtor Nation: The History Of America In Red Ink by Louis Hyman) with the following question --

Whether The American Jobs DESTRUCTION Act of 2004 Was Not The Real Cause of the 2008-201? Economic Meltdown (which would have occurred whether or not there had been a real-estate bubble), and 3 Potential Six-Degrees-of-Separation E-mail Campaigns.


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Postings on our Bulletin Board (www.ReadingLiberally-SaltLake.org) have pointed out that the 2008-201? Economic Crash was really caused by the enactment on 10/23/2004 of Section 965 of the Internal Revenue Code which --

(A) permitted TRillions of dollars of accumulated profits from out-sourcing American jobs to be paid as dividends from tax-haven subsidiaries to their U.S. parents (approximately 20 U.S. companies had more than 100 Billion dollars to dividend and Microsoft alone had a TRillion); and

(B) forced the UNRELATED U.S. companies that had NOT exported American jobs to REDUCE U.S.-LOCATED PRODUCTIVE ASSETS during 2005-2007 by TRillions of dollars in order to pay off their short-term loans from the tax-haven subs so that the tax-haven subs could pay the TRillions of dividends to their U.S. parents which had exported American jobs. [The TRillions of dollars were used by the U.S. companies to redeem their own stock, creating a temporary stock market bubble whose peak in 2006 the Dow-Jones, for example, has never again approached.]

The resulting nosedive in the American economy caused Congress to pass on an emergency basis on 2/7/2008 after only 4.5 weeks (a Guinness record except for Acts of War of which there have been none since 1941) the first Economic Stimulus Act which rebated as quickly as possible 2007 personal income taxes at the rate of $300 per taxpayer plus $300 if the taxpayer had minor dependents ($1,200 max for a joint return).

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The 3 Potential Six-Degrees-of-Separation E-mail Campaigns (you may have more) =

(1) President Obama should be requested to announce immediately that he will veto any legislation that includes the recommendation of his Deficit Reduction Commission that U.S. companies that export American jobs should be exempt from corporate income tax on their profit from exporting the jobs.

(2) President Obama should be requested to propose setting up a new U.S. government patent-exploitation office that will patent in the name of the federal government all inventions resulting from basic research financed by the federal government and aggressively pursue the economic exploitation of those patents INCLUDING ENSURING THAT SUCH TECHNOLOGY IS EMPLOYED ONLY IN MANUFACTURING OPERATIONS LOCATED IN THE UNITED STATES AND NOT USED, FOR EXAMPLE, BY U.S.- OR EUROPEAN-BASED COMPANIES IN THEIR LOW-WAGE ASIAN MANUFACTURING OPERATIONS.

(3) President Obama should be requested to appoint a permanent Independent Prosecutor to prosecute for perjury economics professors who knowingly publish false papers-studies-articles that will be used by lobbyists to influence Congress, and prosecute for suborning perjury the lobbyists who finance such papers-studies-articles. [In this regard, please see under Reference Materials on www.ReadingLiberally-SaltLake.org "McNeil-Lehrer - Economic Studies/Testimony = Suborned Perjury" which includes the 5/5/2011 transcript of their interview of Oscar-Winning "Inside Job" Director Charles Ferguson.]

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