It sounds like it must be some sort of joke, but on the same day that Ford Motor Company announced they had cut 10,000 jobs last year and were going to cut 30,000 more, they also announced that “repatriation of foreign earning pursuant to the American Jobs Creation Act of 2004 resulted in a permanent tax savings of about $250 million.”

The “Jobs Creation Act,” sidgned despite objections from the Treasury Department and Council of Economic Advisors, gave U.S. companies a one time opportunity in 2005 to repatriate profits made overseas and pay only 5.25 percent tax rather than the usual 35 percent.

The only problem was that the act creates no jobs.

American Enterprise Institute fellow Phillip L. Swagel, formerly chief of staff of Bush’s Council of Economic Advisors said that “you might as well have taken a helicopter over 90210 and pushed money out the door.”

Not funny?

Well, I guess the joke’s on us.