The American Trial Lawyers Association

Corporate lobbyists have been working overtime recently to stop a proposed tax increase on corporations' overseas profits, which is currently being considered by the White House. The Obama Administration isn't actually considering imposing a tax hike, but instead they want to repeal a series of tax cuts that actually reward companies for shipping American jobs overseas. Repealing these cuts would bring in an estimated $100 billion dollars over the next 10 years. Groups including the Business Roundtable, the U.S. Chamber of Commerce, the National Association of Manufacturers and the National Foreign Trade Council have helped form a lobbying coalition called Protect America's Competitive Edge that is devoted specifically to the issue. A letter sent to Congress last month opposing the plan was signed by 200 trade associations and companies, including General Electric, Intel, IBM, McDonald's, Merck, and Microsoft. The repeal of these tax breaks would also cause American corporations to lose their offshore tax havens which they have used to avoid paying taxes on their income. America is in desperate need of money right now, and if these companies want to continue doing business in the United States, they need to repay the system that they used to become wealthy.


In other news, former speaker of the House Newt Gingrich has a message for his fellow conservatives – either rebrand yourselves, or you'll most likely see a fracturing of the party and as a result, we could see a third party rise up before the next election. During an interview on Fox News this weekend, Gingrich said quote, “Republicans need to understand that there's a country which did not like the big spending of the Bush administration, and they didn't like the interventionist policies of that administration.” Gingrich helped draft the Contract with America back in 1994 when his party regained control of both houses of Congress, and has been a powerful and influential figure in Republican politics for more almost 2 decades. He believes that if the party doesn't change, it could be all over for the modern Republican Party. Gingrich, who is now the chairman of the think tank American Solutions, said that Republicans must stop insisting on earmarks and big spending, and must begin paying attention to the "vast majority of Republicans." I think the problem with Newt's philosophy is that he doesn't quite understand that conservatism simply doesn't work. Over the last 8 years, George Bush executed the GOP's plans exactly how they wanted, and look where that has gotten us. The failures of the last 8 years aren't the failures of Bush, they are the failures of the Republican Party.


And finally today, in light of the Justice Department stepping in and attempting to get the conviction against Senator Ted Stevens thrown out, former Alabama governor Don Siegelman is asking attorney general Eric Holder to do the same for him. The Justice Department wants Stevens' conviction thrown out because prosecutors withheld evidence during the trial. If that's reason enough to throw out a conviction, then Siegelman shouldn't have anything to worry about. Siegelman's case was riddled with misconduct, from the first trial against him which ended with the judge throwing the charges out saying that they had no basis for a prosecution; to the new Republican judge going along with basically the same case. Then there's the involvement of Karl Rove, the testimony from Dana Jill Simpson, and the fact that what Siegelman was accused of doing wasn't even really a crime. With any luck, Siegelman will get the same treatment as Stevens, and the Justice Department will step in to finally end this long nightmare for him.

Labels: Barack Obama, Contract With America, Don Siegelman, Farron Cousins, GOP, Karl Rove, Newt Gingrich, Offshore, Outsourcing, Tax Break, Tax Haven