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Thursday, December 23, 2010

How to pay for 9/11 victims- impose new taxes on imports

While the Bush tax cuts for the very wealthy have been extended for a few more years, the "sacrifice" has been demanded of foreign suppliers in order to pay for 9/11 victims. In an anti-capitalist turn of events, the Congress wants to impose taxes on imports from a few countries to pay for domestic policies, while preaching free trade policies.


Infosys, TCS, Wipro to pay for 9/11 attack victims - The Economic Times: "The US Congress and the Senate on Wednesday passed a legislation that seeks to make the Indian firms such as Infosys, TCS and Wipro pay for the victims of September 11 terror attacks. India has protested the bill, calling it a 'retrograde step' in Indo-US trade relations.

The legislation, to be effective from July next year, will raise a $4.2 billion to help the victims of September 11 terrorist attacks by levying a new 2% excise tax on goods and services purchased from foreign suppliers based in countries such as India and China."

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