Wednesday, June 29, 2011

THIS IS ANOTHER STUPID IDEA FROM NEAL BOORTZ

Boortz has a promo that claims we would have more private sector jobs if we allowed U.S corporations a tax holiday on the earnings they have managed to stash overseas. The last time this was tried, there wasn't a big effect:
Biggest Tax Avoiders Win Most Gaming $1 Trillion U.S. Tax Break
By Jesse Drucker - Jun 27, 2011 9:01 PM MT
BLOOMBERG NEWS

U.S. companies used $312 billion they repatriated under a 2004 tax holiday largely for stock repurchases, while doing little direct hiring or domestic investment, according to a paper in the current issue of the Journal of Finance by professors at the University of Illinois, Harvard University, and the Massachusetts Institute of Technology. It was the latest in a series of studies that reached similar conclusions.

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