...the truth is that we actually tried this before under the last stimulating President (Bush) with the Homeland Investment Act of 2004. And it flopped.
A group of economists who studied the effects of the HIA concluded that "Repatriations did not lead to an increase in domestic investment, employment or R&D -- even for the firms that lobbied for the tax holiday stating these intentions and for firms that appeared to be financially constrained. Instead, a $1 increase in repatriations was associated with an increase of almost $1 in payouts to shareholders."
Thursday, August 4, 2011
Repatriating US Corp Earnings from Abroad A Silver Bullet ?
No, says Joe Weisenthal in a BUSINESS INSIDER article entitled, 'The Very Last "Stimulus" Card For Obama To Play'. Joe explains...