Wealthy corporations with a trillion dollars stashed offshore lobby for a 'holiday' from U.S. taxes #p2 #tcot

"Goaded by battalions of corporate lobbyists, members of Congress are working to give a select group of U.S. multinational firms like Apple, Oracle and Pfizer a lavish tax break on a trillion dollars stashed offshore. The avowed goal is to generate jobs and investment, but the offshore tax holiday was tried before, in 2004, and the lion's share of the benefits went not to unemployed workers and their families, but to corporate shareholders and executives. The proposed tax holiday could cost the Treasury from $40 billion to $80 billion over the next decade, and the high cost of the measure is one reason that its prospects for passage are mixed."

rest at 

http://www.iwatchnews.org/2011/10/24/7167/wealthy-corporations-trillion-dollars-stashed-offshore-lobby-holiday-us-taxes?utm_source=iwatchnews&utm_medium=site-features&utm_campaign=topics-drawer