Wondering where the money went...

...under our current President? The NYT takes a trip down memory lane, revisiting the "Jobs Creation Act." . You'll remember that was the tax amnesty program that was gave the megacorps a big tax break on repatriating foreign profits on the premise they would use the dough to create jobs in America. Well I expect the $6.2 billion Intel brought back home at bargain rates created a few additional service industry jobs at the resorts the big shareholders and top brass at the company no doubt celebrated their windfalls at, but in terms of creating permanent employment that pays a decent wage, the "Jobs Creation Act" was as big a joke as say, the "Clean Skies Act." All slogan, no results.

In fact Intel just announced that it would be "cutting 10,500 jobs, or about 10 percent of its work force." Somebody went to the bank with that virtually free cash, but it sure as hell wasn't the workers.