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Knowledge is knowing a tomato is a fruit;
 Wisdom is not putting it in a fruit salad.
               
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err...and,of course, how to spell tomato.

GOP Reps. Dismiss Tax Cut For Working Americans

In Favor Of Giveaways To Corporations

By Alex Seitz-Wald, ThinkProgress

Sept. 9, 2011 -- Despite their professed devotion to tax cuts, a surprising number of Republican lawmakers are less than thrilled with President Obama’s proposed extension of temporary cuts to the payroll tax as part of his jobs package unveiled last night.

While the tax holiday for middle- and working-class Americans is one of the most effective ways to stimulate the economy via tax policy, these conservative lawmakers prefer tax breaks go to those who need them least: corporations and the wealthy.

For instance, Tea Party firebrand Rep. Allen West (R-FL) rejected a payroll tax holiday completely on Fox Business last night, saying it has already been tried and that we should “cut this corporate tax rate” instead.

Also on Fox Business, Rep. Phil Gingrey (R-GA) said he had a problem with the payroll tax holiday because it goes to “people who are already working.” But in the next breath, Gingrey called instead for a tax break for corporations who have kept money overseas.

These supply-side tax cuts do little to help the economy or create jobs, as has been shown time and again, because wealthy people tend to save extra money instead of spend it.

When Congress passed a tax repatriation holiday in 2004, as Gingrey wishes they would again, it had none of the intended employment benefits. Corporations merely pocketed their low-taxed repatriated billions and subsequently laid off thousands of workers.

Corporations are not lacking cash. Thus, a tax cut aimed at freeing up money to allow them to expand their workforce, would do little help unemployment. In fact, companies are sitting on trillions in cash, yet are refusing to hire.

A payroll tax holiday is clearly an idea that should appeal to Republicans, who claim that cutting taxes and regulations is the only path to economic prosperity. But as they have repeatedly demonstrated in their opposition to payroll tax holidays, it is only a certain type of tax cut they are really interested in—those for the wealthy and corporations, not middle- and working-class Americans who are primary beneficiaries of the payroll tax holiday.

This morning, Rep. Tom Price (R-GA), chairman of the House Republican Policy Committee, dismissed the payroll tax holiday as an act of “class warfare.” He seems to be proving himself correct.

Rebuilt Ground Zero Billed as National Symbol

Rebuilt Ground Zero Billed as National Symbol,
But Costly Construction Projects
Outsourced Overseas

This weekend, thousands of people will gather at the site of the former World Trade Center to mark the 10th anniversary of the 9/11 terrorist attacks.

On Sunday, a dedication ceremony will be held for the 9/11 Memorial, which will open to the public on Monday. However, construction continues on 1 World Trade Center, which is far from complete.

While the 10th anniversary has made international headlines, little attention has been paid to some controversial aspects of the rebuilding at Ground Zero.

At a time when President Obama is launching a massive jobs initiative, key parts of the construction project were outsourced overseas. A Chinese glass company won the contract to manufacture the special blast-resistant glass base of 1 World Trade Center.

Some 250 tons of stainless steel from Germany will also be imported for the project. So far, just two tenants have agreed to move in to the 105-floor building, the massive skyscraper formerly known as the Freedom Tower.

The China Center was the first tenant to sign a deal. Leasing floors 64 to 69, the center will be used to promote the expansion of Chinese companies in the United States and house the U.S. offices of some Chinese firms.

The publishing giant Condé Nast has agreed to be the anchor tenant by leasing floors 20 to 41 at a heavily subsidized rate.

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Joe Nocera, business columnist for the New York Times has closely followed the rebuilding at Ground Zero and recently wrote a column titled "9/11’s White Elephant."