Posts Tagged ‘GE’

UnAmerican Activities: “RePatriation 101”

Corporations want a tax break to repatriate foreign profits—again!

Republicans, global corporations, the Chamber of Commerce, and Republican lawmakers are claiming that a tax rate of 5% for corporations to repatriate their foreign profits will create jobs, stimulate capital investment, and grow the economy.

We’ve heard that song before—the same pathetic rhetoric—in 2004. But the corporations did not use the billions they repatriated from the American Jobs Creation Act of 2004, to create jobs or grow the economy.

In fact, the biggest recipients—some of the biggest multi-national corporations in the world—laid-off thousands of employees after receiving this gift from the government.

Why on earth would we consider it again?

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Posted in Economy, Jobs, Politics, Repatriation, Taxes, UnAmerican | 9 Comments »