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Forum Post: Corporations again asking for tax amnesty on profits held abroad.

Posted 2 years ago on Oct. 19, 2011, 7:38 p.m. EST by PeppermintPatty (0) from Kansas City, MO
This content is user submitted and not an official statement

Corporations are once again lobbying for a period of amnesty so that they can bring back (tax free) to the US profits they hold in other countries. Their promise is to use the profits to create jobs at home. They did the same thing in 2004. They were allowed to bring back around 300 billion dollars in profits (tax free) and instead of using the money to provide jobs, 92% of the money was spent buying back company stock and increasing dividends to stockholders.

Why were they allowed to get away with this??? Where was the oversight? Why were there no penalties applied? Why would we think they would act differently if they were granted amnesty again.

This information came from an article in The Week Magazine. I can provide details if you'd like.

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5 Comments


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[-] 1 points by tullytown96 (3) 2 years ago

The latest slap in the face? Citizens United vs Federal Election Laws. Our outdated SUPREME Court (2010) gave corporations the same 1st Amendment rights as people...Oh, wait! THEY don't have to pay federal taxes! Voters: Guess who chooses the candidates you get to vote for? CORPORATIONS!!!

[-] 1 points by tullytown96 (3) 2 years ago

The latest slap in the face? Citizens United vs Federal Election Laws. Our outdated SUPREME Court (2010) gave corporations the same 1st Amendment rights as people...Oh, wait! THEY don't have to pay federal taxes! Voters: Guess who chooses the candidates you get to vote for? CORPORATIONS!!!

[-] 1 points by tullytown96 (3) 2 years ago

The latest slap in the face? Citizens United vs Federal Election Laws. Our outdated SUPREME Court (2010) gave corporations the same 1st Amendment rights as people...Oh, wait! THEY don't have to pay federal taxes! Voters: Guess who chooses the candidates you get to vote for? CORPORATIONS!!!