Corporate Tax Holiday Would Shift Investment, Jobs Overseas: Report

Huffington Post by James Sunshine | Jun. 25, 2011 (News Analysis)

Rather than using their extra earnings to invest in American jobs, corporations laid off thousands of workers and passed the savings onto their shareholders, states the report. Pfizer, which according to the WSJ is one of the main corporate supporters of the newly proposed tax holiday, repatriated $37 billion in 2004, the report states. Despite the repatriation windfall -- the largest of any firm in 2004 -- Pfizer cut 10,000 U.S. jobs in 2005. Full Story »

Posted by Dwight Rousu - via Google News (Jobs)

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Subjects: World, U.S., Politics, Business
Topics: Money and Politics, Taxes, Trade, Jobs, Corruption
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# Tweets: 1 (as of 2011-06-25)
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Posted by: Posted by Dwight Rousu - Jun 24, 2011 - 2:03 PM PDT
Reviewed by: Dwight Rousu (review), Steven K Samra (review), Randy Morrow (review)
Content Type: Article
Edit Lock: This story can be edited
Edited by: Dwight Rousu - Jun 25, 2011 - 7:24 PM PDT

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Steven K Samra
4.1
 by Steven K Samra - Jun. 26, 2011

Multiple sources, input from both sides of the political aisle, and buttressed by empirical evidence, Sunshine's piece attempts to provide an honest interpretation of a difficult and complex subject, corporate tax law.

Perhaps the biggest problem is the complexity with which US tax law is applied. Because it's such a challenge to understand I suspect most people immediately begin to experience "eye-glaze" and move quickly to something else that doesn't demand such a large part of the brain to process (Garfield comics come to mind here). As a result, the policies are made without much challenge because most of us - self included - wouldn't have a clue one way or the other on how the policy will ... More »

"Following the conclusion of the last tax holiday, in 2004, corporations actually increased the rate at which they moved investments out of the U.S, according to a ... More »

See Full Review » (7 answers)
Randy Morrow
4.0
 by Randy Morrow - Jun. 27, 2011

Following the conclusion of the last tax holiday, in 2004, corporations actually increased the rate at which they moved investments out of the U.S, according to a study by ... More »

See Full Review » (11 answers)
Dwight Rousu
3.4
 by Dwight Rousu - Jun. 25, 2011
Dwight posted this story.
See Full Review » (10 answers)

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