Tax Holiday for tax shelters would not help the economy


The GOP wants to give a tax holiday to US Corporate tax dodgers who have stashed money overseas. The argument is that such a tax holiday would flood our economy with new cash.

They were treated to such a holiday in 2005, and according to MIT economics professor Kristin Forbes, who was a member of Bush’s council of economic advisers:

“For every dollar that was brought back, there were zero cents used for additional capital expenditures, research and development, or hiring and employees wages.”

via p m carpenter’s commentary: Another ‘facts holiday’.

Tax cuts, benefits and subsidies for the rich do not make them “job creators”.