OBAMA WILL STOP THIS GOP SUPPORTED DEREGULATION AND TAX DODGE DRAINING AMERICA.

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FROM:
Tax Administration: Comparison of the Reported Tax Liabilities of Foreign- and U.S.-Controlled Corporations, 1998-2005
(GAO-08-957 July 24, 2008)


In 2005, 1/4 of ALL "large" U.S.-controlled corporations and 2/3 of ALL U.S.-controlled corporations reported NO TAX LIABILITY.
NONE!
(It defined large corporations as those with assets of at least $250 million or gross receipts of at least $50 million.)

Report highlight:
http://www.gao.gov/highlights/d08957high.pdf

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FROM:
The President's Working Group on Financial Markets;
Policy Statement on Financial Market Developments


"The turmoil in financial markets clearly was triggered by a dramatic weakening of underwriting standards for US. subprime mortgages, beginning in late 2004 and extending into early 2007. But the loosening of credit standards and terms in the subprime market was symptomatic of a much broader erosion of market discipline on the standards and terms of loans to households and businesses."

Report:
http://www.ustreas.gov/press/releases/reports/pwgpolicystat emktturmoil_03122008.pdf