Taxing the wealthy more will have little to no impact on your life or anyone around you
- Thread starter Remodeling Maidiac
- Start date
- Banned
- #642
Jobs? lol
A Repatriation Holiday Would Not Create Jobs
Repatriation Holiday Would Not Increase Investment or Job Creation
According to one estimate, U.S. businesses hold accumulated foreign earnings of almost $2 trillion offshore.[5] Many businesses leave a large portion of those earnings abroad to pursue new opportunities in growing foreign markets. However, they undoubtedly also leave a substantial remaining portion abroad to logically delay payment of the U.S. tax.
Businesses, like individuals, respond to incentives. If the U.S. offered a repatriation holiday, businesses would no doubt bring large amounts of foreign earnings back to the U.S. to reduce their deferred tax liability. Indeed, the last time the U.S. offered a repatriation holiday in 2004 businesses brought back $362 billion.
However, the holiday did not have the anticipated positive economic benefit
Repatriation Holiday Is Backward Looking
Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued.
RIGHT WING HERITAGE
A Repatriation Holiday Would Not Create Jobs
- Banned
- #643
Yep, REAL patriots you CONS are
Ray From Cleveland
Diamond Member
- Aug 16, 2015
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RIGHT WING HERITAGE AGREES
Repatriation Holiday Is Backward Looking
Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued. Businesses decided how to invest or distribute the after-tax profits when they earned them. Eliminating previously accrued tax liability would not change decisions that were made long ago.
It would, however, create a tax windfall for the businesses that repatriate funds, because it would remove the accrued foreign tax liability from their financial statements. This would improve these businesses’ financial standing and benefit current management, but it would do nothing to make profitable potential investments that the worldwide system currently makes unprofitable. Nor would a holiday create new opportunities for businesses to invest.
A Repatriation Holiday Would Not Create Jobs
Arianrhod
Gold Member
- Jul 24, 2015
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Too bad that didn't work for you in Iraq, huh? Hoping for another chance in Iran?
R
rdean
Guest
The 30's was a direct result of 20's deregulation. Worked then and it worked under Bush.
- Banned
- #649
Wyatt earp
Diamond Member
- Apr 21, 2012
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ya do know even Harry Reid was coming up with a plan for a New tax holiday right "dip shit that didn't know we bombed the rest of the industrial world into the stone age in WWII "
Idea for Corporate Tax Holiday Gains Bipartisan Traction in Senate
- Banned
- #651
So NO, you can't refute Heritage INSTEAD prefer a strawman.
Studies: Raise capital gains tax rates to lower income inequality
Wyatt earp
Diamond Member
- Apr 21, 2012
- 69,975
- 16,445
- 2,180
So NO, you can't refute Heritage INSTEAD prefer a strawman.
Studies: Raise capital gains tax rates to lower income inequality
Ya do know who Harry Reid is right?
And hopefully (but by judging by your post I doubt it) know what the word Bi partisan means....
Btw take anything from Berkley and the Heritage foundation and shove it up your ass... Just saying
I can't stand either or ...
- Banned
- #653
So NO, you can't refute Heritage INSTEAD prefer a strawman.
Studies: Raise capital gains tax rates to lower income inequality
Ya do know who Harry Reid is right?
And hopefully (but by judging by your post I doubt it) know what the word Bi partisan means....
Btw take anything from Berkley and the Heritage foundation and shove it up your ass... Just saying
I can't stand either or ...
Report: Repatriation Tax Holiday a 'Failed' Policy
The report warned against repeating the tax break, calling the 2004 effort "a failed tax policy" that cost the U.S. Treasury $3.3 billion in estimated lost revenues over 10 years and led to U.S. companies directing more funds offshore. U.S.-based multinationals often defer bringing back profits earned abroad to avoid paying U.S. taxes on them.
The 15 companies that repatriated the most after the 2004 tax break on the return of overseas profits later cut a net 20,931 jobs between 2004 and 2007 and slightly decreased the pace of their spending on research and development, found the report surveying 19 companies' activity.
Report: Repatriation Tax Holiday a 'Failed' Policy
FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers
However, the Congressional Research Service looked at a repatriation holiday approved by Congress in 2004 and found “little evidence exists that new investment was spurred.” In fact, many of the largest companies that took advantage of that holiday wound up cutting tens of thousands of jobs over the subsequent two years, as this table shows:
Corporation Amount Repatriated Layoffs In 2005-2006
Pfizer $37 billion 10,000
Merck $15.9 billion 7,000
Hewlett-Packard $14.5 billion 14,500
Honeywell $2.7 billion 2,000
Ford $900 million 30,000
Colgate-Palmolive $800 million 4,000
Even companies that actually used the money for domestic investment, like Dell, wound up spending their new-found windfall on projects that they were going to undertake even in the absence of a tax break. As MIT economist Kristen Forbes explained, “[Dell] said part of the money would be brought back to build a new plant in Winston-Salem, N.C. They did bring back $4 billion, and spent $100 million on the plant, which they admitted would have been built anyway.”
Overall, corporations used 92 percent of the money they brought back under the tax holiday to enrich their executives and buy back their own shares, not to invest in job creation. Several of the companies in the WinAmerica coalition already pay exceedingly low taxes due to the various loopholes and credits in the corporate tax code and through their use of offshore tax havens. The Joint Economic Committee found that a repatriation holiday would cost $78.7 billion.
FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers
Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure
Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure | Center on Budget and Policy Priorities
Repatriation Tax Holiday Would Cost U.S. $95.8 Billion
A temporary tax holiday for U.S. companies to repatriate offshore profits would cost the government $95.8 billion in revenue over a decade, said the Joint Committee on Taxation, Congress’s nonpartisan scorekeeper.
Repatriation Tax Holiday Would Cost U.S. $95.8 Billion
bripat9643
Diamond Member
- Apr 1, 2011
- 170,170
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So patriotism is acting stupidly against your own interests?
Right, I'm the liberal brand of patriot.
Liberal Dictionary:
=====================================
Patriot - Sucker
bripat9643
Diamond Member
- Apr 1, 2011
- 170,170
- 47,430
- 2,180
Another stupid liberal myth. There was no deregulation during the 20s, moron. In fact, there was increased regulation.
bripat9643
Diamond Member
- Apr 1, 2011
- 170,170
- 47,430
- 2,180
So NO, you can't refute Heritage INSTEAD prefer a strawman.
Studies: Raise capital gains tax rates to lower income inequality
Why don't we try stopping the importation of cheap foreign labor from third world countries to compete for American jobs before we try raising taxes?
bripat9643
Diamond Member
- Apr 1, 2011
- 170,170
- 47,430
- 2,180
So NO, you can't refute Heritage INSTEAD prefer a strawman.
Studies: Raise capital gains tax rates to lower income inequality
Ya do know who Harry Reid is right?
And hopefully (but by judging by your post I doubt it) know what the word Bi partisan means....
Btw take anything from Berkley and the Heritage foundation and shove it up your ass... Just saying
I can't stand either or ...
Report: Repatriation Tax Holiday a 'Failed' Policy
The report warned against repeating the tax break, calling the 2004 effort "a failed tax policy" that cost the U.S. Treasury $3.3 billion in estimated lost revenues over 10 years and led to U.S. companies directing more funds offshore. U.S.-based multinationals often defer bringing back profits earned abroad to avoid paying U.S. taxes on them.
The 15 companies that repatriated the most after the 2004 tax break on the return of overseas profits later cut a net 20,931 jobs between 2004 and 2007 and slightly decreased the pace of their spending on research and development, found the report surveying 19 companies' activity.
Report: Repatriation Tax Holiday a 'Failed' Policy
FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers
However, the Congressional Research Service looked at a repatriation holiday approved by Congress in 2004 and found “little evidence exists that new investment was spurred.” In fact, many of the largest companies that took advantage of that holiday wound up cutting tens of thousands of jobs over the subsequent two years, as this table shows:
Corporation Amount Repatriated Layoffs In 2005-2006
Pfizer $37 billion 10,000
Merck $15.9 billion 7,000
Hewlett-Packard $14.5 billion 14,500
Honeywell $2.7 billion 2,000
Ford $900 million 30,000
Colgate-Palmolive $800 million 4,000
Even companies that actually used the money for domestic investment, like Dell, wound up spending their new-found windfall on projects that they were going to undertake even in the absence of a tax break. As MIT economist Kristen Forbes explained, “[Dell] said part of the money would be brought back to build a new plant in Winston-Salem, N.C. They did bring back $4 billion, and spent $100 million on the plant, which they admitted would have been built anyway.”
Overall, corporations used 92 percent of the money they brought back under the tax holiday to enrich their executives and buy back their own shares, not to invest in job creation. Several of the companies in the WinAmerica coalition already pay exceedingly low taxes due to the various loopholes and credits in the corporate tax code and through their use of offshore tax havens. The Joint Economic Committee found that a repatriation holiday would cost $78.7 billion.
FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers
Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure
Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure | Center on Budget and Policy Priorities
Repatriation Tax Holiday Would Cost U.S. $95.8 Billion
A temporary tax holiday for U.S. companies to repatriate offshore profits would cost the government $95.8 billion in revenue over a decade, said the Joint Committee on Taxation, Congress’s nonpartisan scorekeeper.
Repatriation Tax Holiday Would Cost U.S. $95.8 Billion
You're a sock for D23, aren't you?
Wyatt earp
Diamond Member
- Apr 21, 2012
- 69,975
- 16,445
- 2,180
So NO, you can't refute Heritage INSTEAD prefer a strawman.
Studies: Raise capital gains tax rates to lower income inequality
Ya do know who Harry Reid is right?
And hopefully (but by judging by your post I doubt it) know what the word Bi partisan means....
Btw take anything from Berkley and the Heritage foundation and shove it up your ass... Just saying
I can't stand either or ...
Report: Repatriation Tax Holiday a 'Failed' Policy
The report warned against repeating the tax break, calling the 2004 effort "a failed tax policy" that cost the U.S. Treasury $3.3 billion in estimated lost revenues over 10 years and led to U.S. companies directing more funds offshore. U.S.-based multinationals often defer bringing back profits earned abroad to avoid paying U.S. taxes on them.
The 15 companies that repatriated the most after the 2004 tax break on the return of overseas profits later cut a net 20,931 jobs between 2004 and 2007 and slightly decreased the pace of their spending on research and development, found the report surveying 19 companies' activity.
Report: Repatriation Tax Holiday a 'Failed' Policy
FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers
However, the Congressional Research Service looked at a repatriation holiday approved by Congress in 2004 and found “little evidence exists that new investment was spurred.” In fact, many of the largest companies that took advantage of that holiday wound up cutting tens of thousands of jobs over the subsequent two years, as this table shows:
Corporation Amount Repatriated Layoffs In 2005-2006
Pfizer $37 billion 10,000
Merck $15.9 billion 7,000
Hewlett-Packard $14.5 billion 14,500
Honeywell $2.7 billion 2,000
Ford $900 million 30,000
Colgate-Palmolive $800 million 4,000
Even companies that actually used the money for domestic investment, like Dell, wound up spending their new-found windfall on projects that they were going to undertake even in the absence of a tax break. As MIT economist Kristen Forbes explained, “[Dell] said part of the money would be brought back to build a new plant in Winston-Salem, N.C. They did bring back $4 billion, and spent $100 million on the plant, which they admitted would have been built anyway.”
Overall, corporations used 92 percent of the money they brought back under the tax holiday to enrich their executives and buy back their own shares, not to invest in job creation. Several of the companies in the WinAmerica coalition already pay exceedingly low taxes due to the various loopholes and credits in the corporate tax code and through their use of offshore tax havens. The Joint Economic Committee found that a repatriation holiday would cost $78.7 billion.
FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers
Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure
Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure | Center on Budget and Policy Priorities
Repatriation Tax Holiday Would Cost U.S. $95.8 Billion
A temporary tax holiday for U.S. companies to repatriate offshore profits would cost the government $95.8 billion in revenue over a decade, said the Joint Committee on Taxation, Congress’s nonpartisan scorekeeper.
Repatriation Tax Holiday Would Cost U.S. $95.8 Billion
You're a sock for D23, aren't you?
Bingo
Brain357
Platinum Member
- Mar 30, 2013
- 37,068
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- 1,130
Creates government dependence, more need for welfare.
rightwinger
Award Winning USMB Paid Messageboard Poster
- Aug 4, 2009
- 309,143
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It amazes me that brain washed conservatives still bring this up as an example of taxpayer waste. Even if the story was debunked years ago
'Shrimp On A Treadmill': The Politics Of 'Silly' Studies
..Take the case of the "shrimp on a treadmill." Burnett says the senator's report linked that work to a half-million-dollar research grant. But that money actually went to a lot of different research that he and his colleagues did on this economically important seafood species.
The treadmills were just a small part of it, a way to measure how shrimp respond to changes in water quality. Burnett says the first treadmill was built by a colleague from scraps and was basically free, and the second was fancier and cost about $1,000. The senator's report was misleading, says Burnett, "and it suggests that much money was spent on seeing how long a shrimp can run on a treadmill, which was totally out of context."
'Shrimp On A Treadmill' And The Politics Of 'Silly' Science Studies
To Conservatives, it is scientists saying...Let's put shrimp on a treadmill and see what happens
To scientists, it was a low cost method to find out at what point water contamination begins to impact shrimp
Republicans and science....it totally baffles them
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