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Political Factoid
"Congress approved a repatriation*
holiday in 2004, but the consensus
among economists has been that its
effects on investment and job
creation were negligible."
-- [emphasis added]
Most of the money was just used to buy
other companies in order to increase
control of the market, and to create the
appearance of growth for shareholders.
| * |
Where corporations, who had been keeping
large amounts of profits oversea to avoid
paying U.S. corporate income taxes, could
bring that money back to the U.S. free of
taxes with the intent that they would
invest in American plants and jobs.
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