A better stimulus approach
There's almost $550 Billion of cash held by US corporations that's currently trapped overseas. These companies would have to be significant witholding taxes to repatriate the money back to their US subsidiaries. If President Obama would temporarily suspend the witholding tax, that would be a huge windfall. It's a way to come up with stimulus dollars without expanding the deficit.
The last time we did this back in 2004, US Companies used 25% of their repatriated cash on US capital investments, 23% for hiring employees, 14% for US R&D and 13% for debt reduction.
If we don't do anything then it's likely that the $550bn of cash will continue to sit overseas and be spent on foreign projects
http://online.wsj.com/article/SB123310439653922291.html
The last time we did this back in 2004, US Companies used 25% of their repatriated cash on US capital investments, 23% for hiring employees, 14% for US R&D and 13% for debt reduction.
If we don't do anything then it's likely that the $550bn of cash will continue to sit overseas and be spent on foreign projects
http://online.wsj.com/article/SB123310439653922291.html




