"Dodging Repatriation Tax Lets Companies Bring Home Cash"

[WinkyDink]

At the White House on Dec. 15, business executives asked President Obama for a tax holiday that would help them tap more than $1 trillion of offshore earnings, much of it sitting in island tax havens.

The money -- including hundreds of billions in profits that U.S. companies attribute to overseas subsidiaries to avoid taxes -- is supposed to be taxed at up to 35 percent when it’s brought home, or “repatriated.” Executives including John T. Chambers of Cisco Systems Inc. say a tax break would return a flood of cash and boost the economy.

What nobody’s saying publicly is that U.S. multinationals are already finding legal ways to avoid that tax.
http://www.bloomberg.com/news/2010-12-29/dodging-repatriation-tax-lets-u-s-companies-bring-home-cash.html
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But there's JUST NO MONEY, except from the Middle- and Poor-Classes.

[Hawkeye-X]

1. Obama should deny the tax holiday, and issue an EO that...

arrests idiots who have tax havens out of the country. Send them to Gitmo (See my other thread) and do HARD LABOR, while losing every single penny - seized by the IRS and paid towards to the debt.

[47of74]

2. That would be nice...

...but the President doesn't seem to have the intestinal fortitude to do something like that.

[FreakinDJ]

3. He spoke out publicly against Off Shore Tax Havens last june

except the whole country was enthralled with Obamacare or Obama's Birth Certificate or some other stupid shit like that at the time

and we as life long Dems or Progressives failed to back him up