White House Considers More Tax Breaks for Companies Making Profits Overseas

First topic message reminder :

If you weren't already offended, you should be by now.

The White House is calling for tax breaks for businesses that make profits overseas, who bring those profits back to the United States. My question? Where is unemployment benefits for the 99ers and the jobs that were supposed to be created by now?

http://www.msnbc.msn.com/id/41953284/

Here's another interesting article. This person is for the tax holiday. So, if I'm reading this correctly, the tax holiday would benefit the shareholders because they are getting more money or am I reading this wrong?

If companies already have back door ways to bring the money back why would they want to bring money back through repatriation? Many will not take advantage of the "tax holiday" because they know it could end at any time.

Why Apple Isn't Paying a Dividend

"The chief criticism with repatriation holidays is that, while they're marketed as a tool to help companies bring cash home to invest in new factories, they almost never work this way. Instead, repatriated cash winds up in the pockets of shareholders."

"If a repatriation holiday only accomplishes a payday for domestic shareholders, with no cost to taxpayers, I'd call it a huge victory. The end-all measure of economic success isn't whether more factories are built. It's whether we're better off. And after repatriation holidays, history shows that we are." (My comment here: Who is better off?)

http://www.fool.com/investing/general/2011/02/22/why-apple-isnt-paying-a-dividend.aspx

The White House and Congress needs to stop this practice of allowing companies to ship jobs overseas, make mega millions in profits and then bring that money back to the United States.

The White House and Congress needs to create these kind of incentives for job creation. Instead, they're creating these kind of incentives to bring money back to our country?

Where are the jobs?

I totally agree with that kemcha but that doesn't really have anything to do with this bill. This bill would give companies that already make money overseas, for whatever reason, to bring it back home. They need to stop giving tax incentives to companies that outsource and give them an incentive to bring their money AND their jobs back here.

lendmeflight2 wrote:I totally agree with that kemcha but that doesn't really have anything to do with this bill. This bill would give companies that already make money overseas, for whatever reason, to bring it back home. They need to stop giving tax incentives to companies that outsource and give them an incentive to bring their money AND their jobs back here.

You are so right. This repatriation tax holiday does not create jobs and doesn't even pretend to. Reading the article from the person who is for the tax holiday was pretty telling to me. It will help the domestic shareholders. It doesn't seem to be investing in this country.