Senator Elizabeth Dole Campaigning For Re-Election

   I was hoping that this broad would just limp off into the sunset, preferably in another state other than North Carolina, but NOOOOOO!

  Dole hit the trail on Friday praising her service to the state of NC and still backing Bush and his failed Iraq war. She gave a talk at a GOP dinner on Friday night, which served some pretty good barbecue from what I hear.  Dole is now 70 years old.

                              MORE BELOW         

    

Charlotte Observer

"I want to tell you tonight I am going to run for re-election to the United States Senate," Dole said, prompting a standing ovation from 250 people attending a Lincoln/Reagan Day barbecue dinner at Southwood Memorial Christian Church. "I am going to need your help as we rev up the campaign for 2008."

She talked about the billions of dollars that will be available to North Carolinians because of her efforts to push through Congress a buyout of the federal tobacco program. Dole noted that North Carolina's military installations survived the base closings and added 4,000 jobs at Fort Bragg.

 

Technorati tags: Elizabeth Dole, Senate, Re-election, North Carolina

Senate After The Overseas Tax Shelters

   Now it looks as if the Senate is clamping down on some of those overseas tax shelters that the wealthy like to stick their cash into.

    Three senators, Carl M. Levin (D-MI), Norm Coleman (R-Minn.) and Barack Obama (D-Ill.), are proposing a bill that would clamp down on the $100 billion a year that the treasury loses in tax revenue because of the loopholes in the tax laws which make the overseas investments so attractive.

Washington Post

Sunday, February 18, 2007

The measure would impose tougher requirements on U.S. taxpayers using offshore secrecy jurisdictions, give the U.S. Treasury the authority to take action against foreign jurisdictions that impede tax enforcement, stiffen penalties against abusers and close offshore trust loopholes.

The Treasury Department and top lawmakers in both houses of Congress have made a priority this year reducing the so-called tax gap, the difference between what individuals and companies owe and what they pay. The IRS said a study of 2001 tax returns shows the tax gap is about $345 billion a year, only $55 billion of which is recovered.

   The only problem with this legislation is the fact that even if it does as promised, another way will be found to get around the measure. It seems that for every tax loophole closed, another one or two takes its place, so what's the point?

 

Technorati tags: Senate, Tax Shelters, Overseas