Extra: Benefits of bringing back cash
March 27, 2011 4:59 PM
U.S. companies are holding $1.2 trillion overseas for tax reasons. Cisco CEO John Chambers is lobbying for a one-time tax break to encourage companies to bring that money back to America.
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- The only refrain that kept running through my head during this interview was: 'some will rob you with a six-gun, some do it with a fountain pen.' Leslie needed to "talk more smack with this dealer." What a glaring contrast to see this interview with the Cisco CEO aired on the same night as the interview Albert Pujols! If we could transfer Pujols' soul into the corporate industry there'd be more profits all the way around and our government wouldn't be in the position it finds itself today.
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- This is why CEO's are making ridiculous salaries and bonuses via what they save their Company on taxes. Reduce the overpaid executive salaries, account for the US subsidys to all those low-tax countries harboring these big corporations and the reality is too BIG to miss...this is America's money needed to replace jobs, boost economic recovery and sustain our livelihood. BIG Corporations are robbing Americans just to make themselves richer...not paying their fair share.
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- I strongly think its all a farce. 800 billion dollars will create 80 million more jobs in India and China and will result in more job loss in our country. Capitalists (aka the corporate execs) always come up with various ideas so that they can profit handsomely with false promises.
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- Thanks, Leslie. Good report and extras. But you could have added one fact regarding tax haven Ireland: they're asking for US help to bail out their economy? How many other tax haven countries are getting various forms of US assistance?
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