U.S. Companies Now Stashing $2 Trillion Overseas
Republicans plan to use their new majority to give a BIG tax break, to entice these companies to bring it back to the USA. IS that a good idea?
A similar "Tax Holiday" was done in 2004. Did it help the economy? Create jobs?
A few facts:
- 1. "most of that cash was used to fund dividend payouts and share buybacks rather than to boost investment."
- 2. The companies saved $3.3 billion in Taxes.
- 3. The biggest companies CUT 20,000 jobs.
Whoopee, let's do that again !!
