3.05.2004

Want to see this morning's Senate Democratic Policy Committee's hearing on Outsourcing? Go to CSpan.org and it's currently listed under "Latest Video" on their homepage. 2 hours long but worth your time (requires RealOne player).

The hearing was chaired by Sen. Byron Dorgan (D-ND), and his web site has some interesting stuff like this nifty fact:

"According to FY2005 budget documents, as recently as 1943, U.S. corporations provided nearly 40% of total U.S. tax revenues, but now pay about 7%. One tax expert has estimated that, on the average, large U.S. corporations today are paying an effective tax rate of 15%, less than half the 35% corporate rate in the tax code. Recently released data also shows that, in 2001, about half of all foreign profits of U.S. corporations were in tax havens."

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