Sunday, May 01, 2011

Another guy agrees with me....

All those trillions overseas will only come home if big business gets a tax holiday and repatriates the money back.

One way or another, the money will come home!


Wonkbook: The Fed chooses a side - Ezra Klein - The Washington Post
Big business dreams of a year with no taxes, reports Dan Eggen: “As Washington politicians grapple with how to lower the federal deficit, a coalition of powerful corporations has a seemingly tantalizing offer: Give us a big tax break, and we’ll give you $50 billion or more in fresh revenue. More than two dozen major companies and business groups -- including the U.S. Chamber of Commerce and technology giants Apple, Google and Microsoft -- have joined together under the banner of the ‘Win America Campaign’ to push for a one-time tax holiday on overseas profits...The idea is to encourage U.S.-based corporations to bring back, or ‘repatriate,’ up to $1 trillion now stashed in overseas tax havens by sharply reducing standard corporate income tax rates on that money from 35 percent to perhaps 5 percent.”


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