Hagan backs corporate tax holiday

[mmonk]

RALEIGH -- North Carolina Sen. Kay Hagan Thursday introduced a bipartisan bill to entice U.S. corporations to bring home offshore profits at a sharply discounted tax rate - a move she said could help jump-start a stagnant economy.

At a news conference with Republican Sen. John McCain, Hagan said that offering a tax holiday - a temporary lowering of corporate taxes for offshore profits from 35 percent to 8.75 percent or lower - would encourage companies to hire more American workers.

"More than $1 trillion of American company earnings are stranded outside of America where it is not doing one bit of good for the American economy," said Hagan, a Democrat from Greensboro. "Companies with a North Carolina presence have roughly $200 billion sitting overseas. I want that money back in America and I want it back in North Carolina."


Read more: http://www.newsobserver.com/2011/10/07/1545904/hagan-backs-corporate-tax-holiday.html#ixzz1a5wOTHDg

[Gore1FL]

1. I'd argue taxes aren't the problem

They are the claimed problem. Taxes just aren't that high in the U.S. compared to other developed countries.

[WhiteTara]

2. We've done this before

and it didn't help last time, why would it help now?

[mmonk]

3. It won't. It's called politics. It's called the Senate New Democrat Coalition.