Corporate Tax Holidaqy would shift investment, jobs overseas

In recent weeks, Congressional support has been forming around the idea of another "repatriation tax holiday," reports the Wall Street Journal. The would mean corporations doing business overseas would be permitted to pay only 5.25 percent tax on earnings brought back to the United States for a temporary time period, as opposed to 35 percent corporate tax rate on domestic profits.
http://www.huffingtonpost.com/2011/06/24/corporate-tax-holiday-jobs-investment_n_883827.html
hmmm... Repugs are at it again..decimating the workforce if they can, instead of building it back up. WAKE UP people!

That would be the Unions living in a fantasy world of where consumers want to pay more for products produced by over paid hold outs and thugs that forgot other countries labor policies are much better then ours. Their workers don't feel "entitled" which is why thier manufacturing base and economies are growing. That Union label means twice the price and half the quality and the American consumer knows this and has spoken with their pocket book. The redistribution of wealth battle is almost over, the truth of that double speak the left wants to hide where wealth is redistributed from all classes of Americans by being forced to purchase products (that support less then 11% of the work force) at higher prices in order to support thier bloated salaries and benefit packages. The Unions are LOSING as they should perhaps now our manufacturing base will come back.

tristen- you're kidding, right? The countries that get the out-sourced jobs DON"T have labor policies- are you a troll ? Sure sounds like it. What the ### does the union label have to do with it?
" 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 the Center of Budget and Policy Priorities. The decision to move overseas, the study claims, was at least partly in anticipation of there being another tax holiday.



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.

The study also takes aim at the claim that a tax holiday would help give firms extra and needed cash to create jobs in the U.S.


"According to the Federal Reserve," the report states, "U.S. non-financial corporations now have $1.9 trillion in liquid assets, the highest level as a share of total corporate assets since 1959." In other words, the report is saying there is enough money to invest as is.
This is about corporate welfare, union or not, the jobs are gonna be outsourced even more if they get their way(corporations that is). Not gonna waste anymore time debating with a paid troll....

Wow a difference of opinion raises or you’re short on facts you’re a troll. Fine you’re a paid Union troll spewing that Union and left talking points that are great on umbers but only tell half the story as usual. Your numbers are right but why is that? Because it’s cheaper to manufacture outside the US thanks to that Union label. See no matter how many officials the Unions elect they can’t stop the American consumer from voting with their wallets and once they got over the buy American BS they found out that not only was the price better but so was the quality in some instances and boom bye bye American manufacturing base. Case in point Wal-Mart blew by everybody using Chinese industry and the Unions are doing everything they can to stop it. Here’s a little point of fact the average American doesn’t think that a person who empties a truck 8 hours a day 5 days a week is a career it’s called a job and jobs don’t come with benefits that raise the prices on everything because somebody else makes that choice and thinks it should be a career. Unions lowered the bar most Americans know that some jobs are just that jobs and don’t deserve the benefits associated with such just because that’s all said individual wants to do. I was in a Union once I watched them rape my paycheck and load the work on me while letting productivity slide and costs go up essentially destroying my job. You talk about elitists’ that’s Unions. They do not represent Middle America they are far from it. They squeeze Middle America while trying to sell themselves as being all of Middle America (while being a less than 12 percent LOL). In closing remember what our most liberal founding father warned “To take from one, because it is thought his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers, have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to everyone the free exercise of his industry and the fruits acquired by it.”
-Thomas Jefferson, letter to Joseph Milligan, April 6, 1816

Jobs are moved overseas no matter what they pay for them is here- they go because the corps. can make profits there without paying taxes on it here, it has nothing to do with UNIONS, that is a smokescreen that corps. have used and it obviously works on people such as yourself.
FYI- the Chinese people are moving to demand higher wages, benefits, etc., so big corps. are looking either at finding other third world countries to exploit, or moving the jobs back here- but moving here ONLY if they can get out of paying any taxes on profits.. Why do you have such an axe to grind about Unions? THEY DO represent Middle America, or at least what is left of it- I think you need to do a little studying- Unions gave us the 40 hr work week, helped abolish child labor, and made it so working people could at least afford the products THEY labored to make. Now, struggling to make do with a job at McDonald's or another burger joint, they can't afford to buy anything, except at garage sales, etc. Middle America is no more, you are either uber-wealthy or poor. Some people hang on to that idea "if I work hard enough, I can get mine"- DREAM ON! Your minimum wage job is heading overseas if Congress can have their way, believe me!

Yours is a classic case of cutting off your nose to spite your own face.

Your example of China proves my point and as I said Unions have done good but that was the past the repub party freed the slaves and various other wonderful things but that was in the past too just as the Union deeds are. My axe is the brain washing organized labor and political parties use to promote their self-serving agendas. The middle class is four times as large as Union workers and are 89% nonunion so to have Unions say they are the middle class is a blatant lie. As for believing that through hard work you succeed yes I do believe that( I have countless examples of people I know) and it is no more propaganda then you buying the spin you can't, so go ahead belong to a group the preaches coat riding and ignores personal responsibility.
See if I’m right then there is no need for Unions except for those unskilled workers with little drive or ambition and Unions won’t get far with that crowd. So it makes sense to preach failure lack of options and to point fingers at other people rather than at ones self in order to gain a following. In the Marines we watched the terrorists and different groups preach all the disenfranchisement stuff so as to gain sheep that follow their teachings in Iraq same speeches same justification it’s funny, it works sad to say. The liberal ideology is dying Europe is a perfect example of it and Greece was the Union mecca yet all the countries that practiced it are failures, all the states with strong Unions are broke and collapsing. These facts show how broken and out of date their methods and plans are.

My example of China proves YOUR point? In which universe? I am UAW retired, 23 years as a proud union worker and officer- and actually, I am still proud to have been a part of a movement forging the way for a better life even for someone such as you. I am not brain-washed by ANYONE or ANYTHING-I am college-educated, and a decent living wage paid for higher education for myself, and my kids, who are high earning professionals. After retiring, I went back to school again, while holding down a full time position, and became unemployed in June 2008, due to downsizing. My job was not outsourced, just company downsized, due to the financial crash in 2007-08. I became a 99er late last spring, and have been living by my wits for over a year now. What is your situation? I have a feeling it is being paid to troll sites such as this, trying to stir up dissent. Won't work with me, go bark up another tree. See, you are NOT right, there will always be a need for Unions, as long as there are robber barons trying to enslave all of us. As far as your comparison of us to those in Iraq- well I don't need to say more- your own words speak volumes. And thank you for your service to our country.I don't think anyone here appreciates you calling us sheep, though...

I shutter to think what would happen if we had no unions!! Without them workers, ALL workers, not just union members would have no rights. If they continue down this path of trying to dismantle the unions we will be in far worse shape than we are now.

I have a feeling the unions will overcome and arise again, just wait and see. If someone doesnt like union policies, then dont be a member. If my husband wasnt in a union member (IBEW) we would not have had health insurance. they offer it through out the whole time the members are unemployed. whether its for a month or in our case, almost 3 yrs.

They have been pretty good to him throughout the whole 20 yrs hes been a member. 5 yrs of school was free, excellent healthcare (dental isn't that great but whos is?) EXCELLENT pay. He worked steady for 16 yrs before he got laid off...he was laid off in 2006 for 9 months for the first time since being a member, went back for 2 yrs, and was laid off again in 2008. This is an extremely rough time for construction. I am praying the labor unions will make a come back. so many great benefits from it.

I could go into financial and economics to show you why the China issue proves my point but in a nut shell the cost of living was cheaper, labor cheaper as well as their currency. The Unions in America raised the price of goods with salaries and benefits beyond what allowed a company to be profitable or competitive so the Unions selfishly took what they could without regard for the company or its future (apparently the investors in the company that provided the capital for the equipment and operations don’t matter even though there wouldn’t be a company without them). Now that the company has had to move elsewhere in order to exist the Unions blame everybody else. Shareholders and the middle class that you claim to defend invested in the company for their future. The unions without regards to them (since anybody better off is bad) placed the company and themselves in the position they are in. Now that China is growing the cost of labor is going up which is why that manufacturing base will soon leave too. It is also why the new emerging manufacturing nations are very wary of Unions having watched them move America's manufacturing base overseas. Now if you’re worried about the welfare of workers you should spend your time working for Unionization overseas since those work conditions are the ones you should champion not adding to the cost of goods my family has to pay to support you. A bag person at a super market is a job not a career and if somebody chooses that then that’s what they get they don’t get to complain and make my costs go up because of their lack of foresight in career choice. There is a lot I will thank Unions for but that was then this is now and going form safe work conditions to the absolutely ridiculous demands they ask for now is something completely different. Union plants are less productive then nonunion and that’s a fact in order to function the company has to make profit this is not about a charity. Again with the troll because I was in a union and see it differently doesn’t mean you’re right it means a difference of opinion and most on this site would agree with you so creating descent makes no sense and apparently the public agrees with me they have no problem with organizing just the benefits which is the issue at hand which is way the Unions are dying….dying to the point that they now have to force people to join and get robbed out of their paycheck to support their ambition’s (how democratic lol). I don’t expect to change your mind or for you to change mine but let’s be clear the Unions have done nothing for us UE if they were such champions of the working people that wouldn’t be the case they champion themselves and the one party themselves support. Robber barrons again let me quote
“To take from one, because it is thought his own industry and that of his fathers has acquired too much, in order to spare to others, who, or whose fathers, have not exercised equal industry and skill, is to violate arbitrarily the first principle of association, the guarantee to everyone the free exercise of his industry and the fruits acquired by it.”
-Thomas Jefferson, letter to Joseph Milligan, April 6, 1816