More Republican Myths

[Rocknwolf]

Lowering the corporate tax rate so the trillions in off shore money held by the greedy will not go to creating jobs or building or growing business in this country. It will go the executives and stockholders just like in 2004.

http://www.usatoday.com/money/perfi/taxes/story/2011-10-11/corporate-tax-break/50735860/1

 

[ThisIsYorCaptnSpkng]

Lowering the corporate tax rate so the trillions in off shore money held by the greedy will not go to creating jobs or building or growing business in this country. It will go the executives and stockholders just like in 2004.

http://www.usatoday.com/money/perfi/taxes/story/2011-10-11/corporate-tax-break/50735860/1

So you're saying that even though the companies were fine keeping their money offshore, that our economy is better off with it staying offshore? Really? Tell us how that works.

 

[Pale Horse]

Lowering the corporate tax rate so the trillions in off shore money held by the greedy will not go to creating jobs or building or growing business in this country. It will go the executives and stockholders just like in 2004.

http://www.usatoday.com/money/perfi/taxes/story/2011-10-11/corporate-tax-break/50735860/1

Imagine that. Companies rewarding their shareholders.

What's the world coming to?

Gosh, I wonder how much we would collect in capital gains?

 

[tinkrbelle]

So you're saying that even though the companies were fine keeping their money offshore, that our economy is better off with it staying offshore? Really? Tell us how that works.

You know they will never bring the money back even with a 0% tax on it.

 

[~T~]

From the article Rocknwolf cited, “A Senate panel on Tuesday released a study that concluded a 2004 law that gave U.S. corporations a huge tax break to bring foreign profits back home did nothing to create jobs, undercutting new proposals for a similar initiative to boost the listless economy. The report found that overall, firms that took advantage of the America Jobs Creation Act to repatriate overseas income from 2004 to 2006 actually cut jobs and research and development spending, while raising stock buybacks and executive pay.”

Real nice of the author to quote his source. What study/report? What was this 'huge tax break”? Guess I could look up the America Jobs Creation Act for specifics but I'm not going to. Anyhow.. the U.S corporate R&D tax credit ran out in 2005... I think... so no tax credit..no R&D spending in 2006.

Way more is needed to get U.S corporations wanting to fully conduct business in the U.S. again. We have to find a way to compete (as in cost of labor.. cost of materials etc.). Sounds simple but it ain't.