In 2004, Congress, Supported by the Bush Administration, Passed a Law

question 134

Multiple Choice

In 2004, Congress, supported by the Bush administration, passed a law called the American Jobs Creation Act that gave businesses a one-year special tax break on any profits accumulating overseas that were transferred to the United States. What was the intent of this law?

• A) To raise revenue for the government to fund its massive defense spending and to create jobs in the defense industry
• B) To discourage U.S. firms from investing in foreign countries
• C) To create jobs and spur investment in the U.S.
• D) To free up much needed funding for domestic firms in the face of an impending financial crisis

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Definitions:

National Entertainment State

The concept that entertainment and media have become significant in shaping national culture, identity, and politics, with some governments actively engaging in or controlling it for propaganda or unity.

Concentration of Ownership

A situation where a small number of individuals or companies control a large share of the market or resources.

Commercialism

A practice or attitude that places emphasis on the maximization of profit and the marketability of goods and services.

Upscale Demographics

A term used to describe a segment of the population that is characterized by high income, education, and occupation levels; often targeted by specific marketing strategies.