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View Diary: Book review: The Betrayal of the American Dream (65 comments)

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  •  Here's a bit more . . . (15+ / 0-)
    The subcommittee's report found that the last repatriation tax holiday cost the Treasury at least $3.3 billion in net revenue lost over ten years and that it "produced no appreciable increase in U.S. jobs or domestic investment, and led to U.S. corporations directing more funds offshore."

    Just the opposite should be done - EXTRA taxes should be put on repatriation of overseas earnings and profits - if nothing else that might make US investors think twice about investing in companies using these ploys (since bringing the profits back home where they could get their hands on them would/could be just a tad more difficult).

    •  as written below (8+ / 0-)

      Sometimes there are simple solutions to complex problems.  Apple and Microsoft have an unbelievable amount of cash hidden overseas waiting to be repatriated when they receive a lowered tax rate.  Instead of bargaining with them, the government could just say, if not brought home within 2 years, the money can never be returned without a 95% tax.  Money sleeping overseas depresses the local economy and needs to be threatened.  Capitalism is good for business--government is supposed to be good for its citizens.  Countervailing forces.

      Apres Bush, le deluge.

      by melvynny on Sun Dec 30, 2012 at 07:24:01 AM PST

      [ Parent ]

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