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The Mother of All Corporate Tax Loopholes

November 01, 2011 8:34 am ET

Instead of creating jobs by putting American teachers, firefighters and construction workers back to work right away, Republican presidential candidates participating in tonight's GOP primary forum like Rick Perry want to reward corporate CEOs who send our jobs overseas with a new tax loophole -- a corporate "repatriation tax holiday."


CORE MESSAGE

Don't call it a holiday. "Repatriation" is the ultimate corporate tax loophole for sending American jobs overseas.

Connect: We need more jobs right here at home, not more tax loopholes that reward corporate CEOs for sending American jobs overseas.

Define: Giant corporations that are sitting on record piles of cash and offshoring American jobs have 160 lobbyists pushing for the mother of all tax loopholes -- a free pass out of paying regular taxes on the profits they've stashed overseas.  

Discredit: The last time they got this tax loophole, they laid off hundreds of thousands of Americans while paying off their investors and giving huge CEO bonuses.

Consequences: Rewarding corporate CEOs for sending American jobs overseas only encourages the biggest tax dodgers to offshore more American jobs and forces taxpayers to borrow billions more.

Values: Hardworking Americans pay their taxes and play by the rules -- so should big corporations and the rest of the 1%.

Call it: The ultimate corporate tax loophole, Sending American jobs overseas
Don't Call It: "Repatriation" or a "tax holiday"


Tweet: We should be getting rid of corporate tax loopholes, not adding new ones that reward corporate tax dodgers. Say NO to corporate "repatriation."


ATTACKS AND RESPONSES


"A repatriation tax holiday will create jobs for millions of Americans."

  • We tried this before and it failed. Corporate CEOs started to fire American workers the day the tax loophole kicked in and eventually laid off hundreds of thousands of people.
  • Economists and tax experts say this new tax giveaway would actually encourage corporations to send even more American jobs overseas.
  • Even corporate CEOs admit this tax loophole won't create jobs -- but they want the giant windfall from taxpayers anyway.


"A repatriation tax holiday will raise billions for the U.S. Treasury."


"Corporate taxes are too high -- companies need the temporary tax relief."


WHAT YOU NEED TO KNOW

 

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Posted in - Taxes - Economy - Jobs

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