Why is Capitalism failing in the USA?

[ugotthat]

Why turn a profit if tax breaks and foreign income makes up for the lost revenue? Ever hear of a loss leader? The tax extension that just passed has breaks for corporations that invest overseas.

New tax law packed with obscure business tax cuts
http://news.yahoo.com/s/ap/us_tax_cuts_goodies
There is a generous tax break for banks and insurance companies that invest overseas.

An exemption that allows banks, insurance companies and other financial firms to shield foreign profits from being taxed by the U.S. through 2011. Cost: $9.2 billion.

That's pretty funny. Americans can't get a loan at home but American banks are free to help the economy of countries other than America. We're extending tax breaks to companies that create jobs outside of the U.S. But not here. Obama tried to stop that and the Republicans took issue with that idea.

America may have the highest "TAX RATE" but after all those tax breaks no one pays anywhere close to it.

Why your tax bill is higher than GE's
http://articles.moneycentral.msn.com/Tax...n-ges.aspx

GE got a 1.1 BILLION dollar refund. On revenue of $157 BILLION. A company has $157 BILLION in revenue but pays not a dime in taxes?? That's some break. Can I get one too??

"But the tax benefit of overseas operations is the biggest reason many multinationals end up with lower tax rates than the rest of us. It makes sense that multinationals "put costs in high-tax countries and profits in low-tax countries,""

Not ready for that 'adult conversation' on debt?
http://www.msnbc.msn.com/id/40573747/ns/politics/

CBO predicts that by 2016 interest payments will be larger than military spending. All that interest is because of UNFUNDED tax cuts. Meanwhile corporations are reporting record profits.

Americans have screwed themselves right into the ground. China is doing phenomenal thanks to our propensity for cheap goods and no taxes.