THE MIDDLE CLASS JOBS PROTECTION ACT WILL:
1) Slash the corporate tax rate from 35% to 25%, encouraging businesses to create jobs.
2) Provide for a 50% bonus depreciation for 2008 and 2009.
3) Allow for section 179 expensing for '08-'09 of up to $250,000 for purchases up to a $1 M
4) Allow a 5 year carry back of Net Operating Loss.
5) Allow for extension of carry back period for Business Tax Credits for 3 years.
Wow. And this protects jobs how? Or protects the middle class how? Or does anything other than bail out big businesses how? Correct me if I'm wrong, but aren't we watching business after business give their CEOs huge buyouts when they get rid of them? Didn't Merrill Lynch just hand their outgoing CEO over $100 million at the same time they've had to write off $25 BILLION in the past six months? Give me a damn break.
