{"id":1354,"date":"2005-05-09T00:00:37","date_gmt":"2005-05-09T00:00:37","guid":{"rendered":"http:\/\/zmetro.com\/?p=1354"},"modified":"2005-05-09T00:00:37","modified_gmt":"2005-05-09T00:00:37","slug":"feingolds_big_b","status":"publish","type":"post","link":"https:\/\/www.zmetro.com\/?p=1354","title":{"rendered":"Feingold&#8217;s Big Business Tax Cut"},"content":{"rendered":"<p>Russ Feingold <a href=\"http:\/\/www.zmetro.com\/archives\/000883.php\">voted<\/a> for this giveaway (I&#8217;d like a 5.25% tax rate, please).  <a href=\"http:\/\/www.nytimes.com\/2005\/05\/08\/business\/08taxes.html?ex=1273204800&#038;en=62432a8b885ca51d&#038;ei=5088&#038;partner=rssnyt&#038;emc=rss\">Alex Berenson<\/a> looks at one of the windfalls: Large drug companies:<Blockquote><i>A new tax break for corporations is allowing the biggest American drug makers to return as much as $75 billion in profits from international havens to the United States while paying a fraction of the normal tax rate.<br \/>\nThe break is part of the American Jobs Creation Act, signed into law by President Bush in October, which allows companies a one-year window to return foreign profits to the United States at a 5.25 percent tax rate, compared with the standard 35 percent rate.<br \/>\n&#8230;&#8230;.<br \/>\nThough the companies stand behind their accounting, financial analysts and tax lawyers say that the drug makers&#8217; claim defies reality and that their profits come mostly from sales in the United States.<\/i><\/p><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>Russ Feingold voted for this giveaway (I&#8217;d like a 5.25% tax rate, please). Alex Berenson looks at one of the windfalls: Large drug companies:A new tax break for corporations is allowing the biggest American drug makers to return as much as $75 billion in profits from international havens to the United States while paying a [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,17],"tags":[],"_links":{"self":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/1354"}],"collection":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1354"}],"version-history":[{"count":0,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=\/wp\/v2\/posts\/1354\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1354"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1354"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.zmetro.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1354"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}