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$1.4 Trillion Cash Stash Could Stoke Job Market

 
LoVeLiGHT420
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10/15/2011 02:52 AM
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$1.4 Trillion Cash Stash Could Stoke Job Market
Have a look at this.. I thought it was worth using the karma points to pin for discussion.. Please read the entire article before posting.

[link to www.thefiscaltimes.com]
<snip>
A proposal to encourage U.S. multinationals to shift overseas profits back to the U.S. at a bargain-basement tax rate is picking up momentum, with a growing coalition of lawmakers, business leaders, and economists touting it as a way to jolt the economy and create jobs.

U.S. corporations hold at least $1.4 trillion in offshore accounts, according to JPMorgan Chase. But many companies, including Cisco, Apple, Pfizer, General Electric, Microsoft, and Google, say they are prepared to bring those profits home in return for what would essentially be a one-year tax holiday.

Corporations and shareholders like the so-called repatriation initiative because it would allow for stock buybacks and higher dividends since the earnings being held abroad would be taxed at a far lower tax rate than the 35 percent the U.S. normally levies on large multinationals. In fact, the rate would be even lower than what they pay in low-tax jurisdictions like Ireland, which has a 12.5 percent corporate tax.

U.S. multinationals also say a repatriation program would motivate them to direct overseas profits toward job-creation, even if they can’t commit to specific hiring levels. “Do I know how many jobs it’s going to create? I don’t,” GE CEO Jeff Immelt said on 60 Minutes last weekend. “But it can’t intellectually be any good to anybody to have $1.4 trillion outside of the U.S.”

Repatriation got a major endorsement on Thursday when former Clinton economic adviser Laura Tyson released a study showing that a repatriation holiday that lowered the corporate tax rate for one year to 5.25 percent, would create as many as 2.5 million new jobs and increase U.S. GDP by as much as $336 billion. This report follows a similar one released last month by the U.S. Chamber of Commerce, which found that the stock buybacks and dividend payments a temporary repatriation holiday would create 3 million jobs and increase U.S. GDP by $360 billion over eight quarters.
<snip>
[link to www.thefiscaltimes.com]
To visit my blog just search:
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Anonymous Coward
User ID: 2926765
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10/15/2011 02:56 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
Obama wants to increase our taxes by 1.5 billion. hmmmm
centrist77

User ID: 1504428
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10/15/2011 03:09 AM

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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
This is very true. We must make investing in the US the most profitable option. Our politicians sold us out by passing laws that made it more profitable to pack up our companies and send them overseas.

I am mad, but not at Wall Street. I am angry with our politicians that put other countries over their own country and fellow citizens that elected them.

Good Stuff OP
saberbanner2
VRWil
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10/15/2011 03:22 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
Have a look at this.. I thought it was worth using the karma points to pin for discussion.. Please read the entire article before posting.

[link to www.thefiscaltimes.com]
<snip>
A proposal to encourage U.S. multinationals to shift overseas profits back to the U.S. at a bargain-basement tax rate is picking up momentum, with a growing coalition of lawmakers, business leaders, and economists touting it as a way to jolt the economy and create jobs.

U.S. corporations hold at least $1.4 trillion in offshore accounts, according to JPMorgan Chase. But many companies, including Cisco, Apple, Pfizer, General Electric, Microsoft, and Google, say they are prepared to bring those profits home in return for what would essentially be a one-year tax holiday.

Corporations and shareholders like the so-called repatriation initiative because it would allow for stock buybacks and higher dividends since the earnings being held abroad would be taxed at a far lower tax rate than the 35 percent the U.S. normally levies on large multinationals. In fact, the rate would be even lower than what they pay in low-tax jurisdictions like Ireland, which has a 12.5 percent corporate tax.

U.S. multinationals also say a repatriation program would motivate them to direct overseas profits toward job-creation, even if they can’t commit to specific hiring levels. “Do I know how many jobs it’s going to create? I don’t,” GE CEO Jeff Immelt said on 60 Minutes last weekend. “But it can’t intellectually be any good to anybody to have $1.4 trillion outside of the U.S.”

Repatriation got a major endorsement on Thursday when former Clinton economic adviser Laura Tyson released a study showing that a repatriation holiday that lowered the corporate tax rate for one year to 5.25 percent, would create as many as 2.5 million new jobs and increase U.S. GDP by as much as $336 billion. This report follows a similar one released last month by the U.S. Chamber of Commerce, which found that the stock buybacks and dividend payments a temporary repatriation holiday would create 3 million jobs and increase U.S. GDP by $360 billion over eight quarters.
<snip>
[link to www.thefiscaltimes.com]
 Quoting: LoVeLiGHT420



News Flash - Government can't create jobs!!!! The best thing they can do is leave big and small businesses alone.
I live in the 'not so great state' of California that has put so much red tape in the way of businesses, they are leaving in droves.
The central bank has no intent to revive this country, We are headed for financial collapse whether we like it or not.
If you don't own gold or silver, you will be fresh out of luck when this ongoing financial war against us reaches its peak. Your 401K is going bye bye, if you don't pull it out.
Barack wants you dependent on government, which is the agenda set by the elite. He's just following orders.
Anonymous Coward
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Finland
10/15/2011 03:25 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
perhaps your government should stop spending like a madman & start cutting spending from something that is not a necessity like all those wars etc.


but that's not going to happen and we all know that, crazy shit isn't it?
Anonymous Coward
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Australia
10/15/2011 03:27 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
any excuse to bring the money back they've been effectively holding out on the system tax free.

what jobs are they going to create in 12 months?
an amount i could count on one hand, and just enough to watch over the money.
XP...

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United States
10/15/2011 03:39 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
perhaps your government should stop spending like a madman & start cutting spending from something that is not a necessity like all those wars etc.


but that's not going to happen and we all know that, crazy shit isn't it?
 Quoting: Anonymous Coward 3272798


We can start by kicking your sorry asses off our titts!
"The world will not be destroyed by evil, it will be destroyed by the ones who do nothing to stop the evil."
"Lead or follow just get the hell out of my way!"
XP...
Anonymous Coward
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Canada
10/15/2011 03:44 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
this seems like a cover for all the USDs that will flow back to the states when they lose their value against other currencies.
Anonymous Coward
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10/15/2011 03:45 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
perhaps your government should stop spending like a madman & start cutting spending from something that is not a necessity like all those wars etc.


but that's not going to happen and we all know that, crazy shit isn't it?
 Quoting: Anonymous Coward 3272798


We can start by kicking your sorry asses off our titts!
 Quoting: XP...


what you should do is kick yourselves out of Chinas titties! Your country has become a welfare queen!
LoVeLiGHT420 (OP)

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United States
10/15/2011 03:47 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
IMO Doing this would do a thousand times more to bring back manufacturing and tech sector jobs than Obama's lame ass jobs bill will ever do.
To visit my blog just search:
VILE: Vatican Illuminati Lies Exposed

"What we do in life ripples in eternity." ~ Marcus Aureliu
If you seek truth you will not seek victory by dishonorable means, and if you find truth you will become invincible. -Epictetus
LoVeLiGHT420 (OP)

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10/15/2011 03:57 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
If congress is SMART (wishful thinking but just maybe) they will put restrictions on the "repatriation window" and required companies not to just sink the money back into share holder dividends but instead re-invest the money into creating jobs which invariably would be a win-win scenario for the corps and which also would put the issues raised by critics to rest.

A few selected quotes:
[link to www.thefiscaltimes.com]

"Repatriation got a major endorsement on Thursday when former Clinton economic adviser Laura Tyson released a study showing that a repatriation holiday that lowered the corporate tax rate for one year to 5.25 percent, would create as many as 2.5 million new jobs and increase U.S. GDP by as much as $336 billion. This report follows a similar one released last month by the U.S. Chamber of Commerce, which found that the stock buybacks and dividend payments a temporary repatriation holiday would create 3 million jobs and increase U.S. GDP by $360 billion over eight quarters."

"It would let companies bring back offshore profits at a top tax rate of 8.75 percent and a bottom rate of 5.25 percent if the company commits to boosting its U.S. payroll by 10 percent."

"“Even if all they [companies] did was bring money home and pay out dividends, 85 percent of U.S. multinational stocks are held by Americans,” he said. “If they came home and paid out $700 billion in dividends, it would mean a massive amount of money flowing into the economy no matter how you view it.”

Last Edited by LoVeLiGHT420 on 10/15/2011 03:58 AM
To visit my blog just search:
VILE: Vatican Illuminati Lies Exposed

"What we do in life ripples in eternity." ~ Marcus Aureliu
If you seek truth you will not seek victory by dishonorable means, and if you find truth you will become invincible. -Epictetus
Anonymous Coward
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Canada
10/15/2011 04:02 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
perhaps your government should stop spending like a madman & start cutting spending from something that is not a necessity like all those wars etc.


but that's not going to happen and we all know that, crazy shit isn't it?
 Quoting: Anonymous Coward 3272798


We can start by kicking your sorry asses off our titts!
 Quoting: XP...


what you should do is kick yourselves out of Chinas titties! Your country has become a welfare queen!
 Quoting: Anonymous Coward 3272798


lolsign
LoVeLiGHT420 (OP)

User ID: 2313423
United States
10/15/2011 04:03 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
perhaps your government should stop spending like a madman & start cutting spending from something that is not a necessity like all those wars etc.


but that's not going to happen and we all know that, crazy shit isn't it?
 Quoting: Anonymous Coward 3272798


We can start by kicking your sorry asses off our titts!
 Quoting: XP...


what you should do is kick yourselves out of Chinas titties! Your country has become a welfare queen!
 Quoting: Anonymous Coward 3272798


lolsign
 Quoting: Anonymous Coward 2681071


Agree 1000%
To visit my blog just search:
VILE: Vatican Illuminati Lies Exposed

"What we do in life ripples in eternity." ~ Marcus Aureliu
If you seek truth you will not seek victory by dishonorable means, and if you find truth you will become invincible. -Epictetus
Lilbabez33

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10/15/2011 04:10 AM

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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
If congress is SMART (wishful thinking but just maybe) they will put restrictions on the "repatriation window" and required companies not to just sink the money back into share holder dividends but instead re-invest the money into creating jobs which invariably would be a win-win scenario for the corps and which also would put the issues raised by critics to rest.

A few selected quotes:
[link to www.thefiscaltimes.com]

"Repatriation got a major endorsement on Thursday when former Clinton economic adviser Laura Tyson released a study showing that a repatriation holiday that lowered the corporate tax rate for one year to 5.25 percent, would create as many as 2.5 million new jobs and increase U.S. GDP by as much as $336 billion. This report follows a similar one released last month by the U.S. Chamber of Commerce, which found that the stock buybacks and dividend payments a temporary repatriation holiday would create 3 million jobs and increase U.S. GDP by $360 billion over eight quarters."

"It would let companies bring back offshore profits at a top tax rate of 8.75 percent and a bottom rate of 5.25 percent if the company commits to boosting its U.S. payroll by 10 percent."

"“Even if all they [companies] did was bring money home and pay out dividends, 85 percent of U.S. multinational stocks are held by Americans,” he said. “If they came home and paid out $700 billion in dividends, it would mean a massive amount of money flowing into the economy no matter how you view it.”
 Quoting: LoVeLiGHT420


Great post. You summed up very nicely some of what the OWS crowd is protesting about, IMHO.
The problem is not the problem, the problem is your attitude about the problem.
----------------------------------------------------​----------------------
"May future generations look back on our work and say that these were men and women who, in a moment of great crisis, stood up to their politicians, the opinion-makers, and the establishment, and saved their country." - Dr. Ron Paul
........................................................​..................
Give a man a gun and he can rob a bank.
Give a man a bank and he can rob the world
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"And there is very grave danger that an announced need for increased security will be seized upon by those anxious to expand it's meaning to the very limits of official censorship and concealment." -JFK
........................................................​..................
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LoVeLiGHT420 (OP)

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10/15/2011 04:22 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
If congress is SMART (wishful thinking but just maybe) they will put restrictions on the "repatriation window" and required companies not to just sink the money back into share holder dividends but instead re-invest the money into creating jobs which invariably would be a win-win scenario for the corps and which also would put the issues raised by critics to rest.

A few selected quotes:
[link to www.thefiscaltimes.com]

"Repatriation got a major endorsement on Thursday when former Clinton economic adviser Laura Tyson released a study showing that a repatriation holiday that lowered the corporate tax rate for one year to 5.25 percent, would create as many as 2.5 million new jobs and increase U.S. GDP by as much as $336 billion. This report follows a similar one released last month by the U.S. Chamber of Commerce, which found that the stock buybacks and dividend payments a temporary repatriation holiday would create 3 million jobs and increase U.S. GDP by $360 billion over eight quarters."

"It would let companies bring back offshore profits at a top tax rate of 8.75 percent and a bottom rate of 5.25 percent if the company commits to boosting its U.S. payroll by 10 percent."

"“Even if all they [companies] did was bring money home and pay out dividends, 85 percent of U.S. multinational stocks are held by Americans,” he said. “If they came home and paid out $700 billion in dividends, it would mean a massive amount of money flowing into the economy no matter how you view it.”
 Quoting: LoVeLiGHT420


Great post. You summed up very nicely some of what the OWS crowd is protesting about, IMHO.
 Quoting: Lilbabez33


Actually it would be better said to say "summed up very nicely some of what a "FEW of the OWS" crowd is protesting about". I tried sharing some of these ideas in their forums and chat rooms and the obvious "leaders" (individuals who had the biggest voice / most posts) shot me down in an instant calling me a "1% right wing corporate banker whore nut job" for even suggesting a RATIONAL way to bring jobs back into this country.

IMO taxing the living crap out of corps and the rich isn't going to help anything other than to further destabilize our economy. You don't fix a run down home by burning it to the ground in the middle of winter leaving the family out in the cold with no shelter.

SOME of the people I have talked to about these ideas and others who do not support "OWS" DO agree though and do not agree with what a large majority of them ARE calling for which amounts to a government welfare nanny state. I.E. Communism. Lets send them over to China for a year or two and see how they like having their entire life dictated to them by the government because that is where we are going if the radical left get their way.

Just to be clear, I am politically in the middle. I want as little government in my life as possible and that goes for the corporations as well. I say bring back true free market capitalism, don't kill it and bury it because if that happens, we're all doomed.

Last Edited by LoVeLiGHT420 on 10/15/2011 04:24 AM
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VILE: Vatican Illuminati Lies Exposed

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If you seek truth you will not seek victory by dishonorable means, and if you find truth you will become invincible. -Epictetus
citizenperth
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10/15/2011 04:27 AM

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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
australia just created s 3 billion tax for air..... yay for fuckin breathing

Last Edited by Citizenperth on 10/15/2011 04:28 AM
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TRUTH WARRIOR

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10/15/2011 04:29 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
Keep dreaming!!!

It is the Wealthy Whites who want to bankrupt this country for their Satanic Agenda!!

Last Edited by TRUTH WARRIOR on 10/15/2011 04:29 AM
Anonymous Coward
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10/15/2011 04:29 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
This way companies are rewarded for their years of tax evasions! It will not create more jobs, but only more profit for shareholders! Taking away that money from overseas economies will mean that those countries economies will go down which in turn will have a negative effect on your own economy.

Just close all those tax loopholes that make it possible to ship that money overseas in the first place.
LoVeLiGHT420 (OP)

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10/15/2011 04:29 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
australia just created s 3 billion tax for air..... yay for fuckin breathing
 Quoting: citizenperth


Yeah I think your prime minister is huffing too much car exhaust.
To visit my blog just search:
VILE: Vatican Illuminati Lies Exposed

"What we do in life ripples in eternity." ~ Marcus Aureliu
If you seek truth you will not seek victory by dishonorable means, and if you find truth you will become invincible. -Epictetus
citizenperth
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10/15/2011 04:32 AM

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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
australia just created s 3 billion tax for air..... yay for fuckin breathing
 Quoting: citizenperth


Yeah I think your prime minister is huffing too much car exhaust.
 Quoting: LoVeLiGHT420


hope so......
It's life as we know it, but only just.
My Fukushima Site:
[link to citizenperth.wordpress.com]
sic ut vos es vos should exsisto , denego alius vicis facio vos change , exsisto youself , proprie

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twitter: @citizenperth
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Anonymous Coward
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10/15/2011 04:34 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
australia just created s 3 billion tax for air..... yay for fuckin breathing
 Quoting: citizenperth


Yeah I think your prime minister is huffing too much car exhaust.
 Quoting: LoVeLiGHT420


ore like prime con artist
LoVeLiGHT420 (OP)

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10/15/2011 04:36 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
This way companies are rewarded for their years of tax evasions! It will not create more jobs, but only more profit for shareholders! Taking away that money from overseas economies will mean that those countries economies will go down which in turn will have a negative effect on your own economy.
 Quoting: Vierkantebroek


This doesn't mean taking ALL of the money from overseas economies. Most of that money is sitting in China anyways. If we do nothing at all the money keeps flowing OUT of western economies. The money is already gone and there is absolutely nothing our government is going to do to get it back forcefully.

I think that as part of the agreement however companies should be forced to agree to use at least 50% or more of the money to create jobs.

“Even if all they [companies] did was bring money home and pay out dividends, 85 percent of U.S. multinational stocks are held by Americans,” he said. “If they came home and paid out $700 billion in dividends, it would mean a massive amount of money flowing into the economy no matter how you view it.”
To visit my blog just search:
VILE: Vatican Illuminati Lies Exposed

"What we do in life ripples in eternity." ~ Marcus Aureliu
If you seek truth you will not seek victory by dishonorable means, and if you find truth you will become invincible. -Epictetus
LoVeLiGHT420 (OP)

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10/15/2011 04:39 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
Of course ideas like this are only a part of the answer to fixing the issues. This is by no means a fix but it's at least a start.
To visit my blog just search:
VILE: Vatican Illuminati Lies Exposed

"What we do in life ripples in eternity." ~ Marcus Aureliu
If you seek truth you will not seek victory by dishonorable means, and if you find truth you will become invincible. -Epictetus
AssBlaster
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10/15/2011 04:48 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
Inflationary.
Anonymous Coward
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10/15/2011 04:53 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
looks like the CIA coke dealers and hookers are going to be getting bonuses soon...
citizenperth
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10/15/2011 05:02 AM

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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
looks like the CIA coke dealers and hookers are going to be getting bonuses soon...
 Quoting: Anonymous Coward 3328811


GRIN
It's life as we know it, but only just.
My Fukushima Site:
[link to citizenperth.wordpress.com]
sic ut vos es vos should exsisto , denego alius vicis facio vos change , exsisto youself , proprie

GLP's best Fuku thread: Thread: *** Fukushima *** and other nuclear-----updates and links
twitter: @citizenperth
“If I had an hour to solve a problem and my life depended on it, I would use the first 55 minutes determining the proper question to ask, for once I knew the proper question, I could solve the problem in less than five minutes.”
- Albert Einstein
Anonymous Coward
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10/15/2011 05:17 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
Keep dreaming!!!

It is the Wealthy Whites who want to bankrupt this country for their Satanic Agenda!!
 Quoting: TRUTH WARRIOR


don't play the race card it's old and lame.
Anonymous Coward
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10/15/2011 05:38 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
this seems like a cover for all the USDs that will flow back to the states when they lose their value against other currencies.
 Quoting: Anonymous Coward 876954


scheming damn good point!
Einstein2012

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10/15/2011 06:45 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
i'm going to be a contrarian here, but honestly if Obama and the treasury department just wait for the euro to collapse (which is happening already) and get the US house of representatives to pass the chinese currency/illegal trade practices bill(it already cleared the US senate).

than Obama and his administration would see trillions of dollars flow into the country and be able to tax these dollars at the current 35 percent tax rate and fill up their government treasury to the brim.

I don't see why Obama would do a tax holiday when all he has to do is wait a few more weeks and he would see an extra 30 percent gain in tax dollars for the US treasury from the collapse of the Euro.

I'm just following the logic of what Obama is doing.
AmericanJedi

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10/15/2011 08:33 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
So, lets get this straight...the solution to America's terrible financial woes is to give a break to corporations that have decimated manufacturing and sucked the consumer trough so dry that they are starting to chew the wood?

So, now the USA is a tax haven, our status as Third World Hole, is NOW complete!
(GLP aka American Jedi)

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AdHocBOHICA

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10/15/2011 08:57 AM
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Re: $1.4 Trillion Cash Stash Could Stoke Job Market
Keep dreaming!!!

It is the Wealthy Whites who want to bankrupt this country for their Satanic Agenda!!
 Quoting: TRUTH WARRIOR



Racist Pig!

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