" wrote in message
:

On Oct 1, 9:43*am, Home Guy wrote:
Home Guy wrote:
With regard to corporate profits, the report noted that the
preliminary estimate for the first quarter of 2011 was $1.668
trillion, an increase of $465 billion of just under 40 percent
since the recovery began.

On a related note:

Microsoft, Apple, Google ask Congress for tax holidayhttp://blog.seattlepi.com/microsoft/2011/06/20/microsoft-apple-google...

Microsoft is among several U.S. corporations, including Apple and
Google, that are lobbying Congress for a year-long income tax holiday
that would allow them to transfer offshore cash to the United States at
a lower tax rate, The New York Times reports.

Microsoft has $29 billion in offshore cash, for example, and is paying
the $8.5 billion for Luxembourg-based Skype with offshore funds. The
companies are asking for a one-year rate reduction on international
revenue from 35 percent to 5.25 percent, saying the break would inject
much-needed trillions into the U.S. economy, the Times reports.

This is something I've been saying is an obvious step that could bring
an immediate boost to the US economy. It should have been done long
ago. Instead all we hear is carping about the amount of profits US
companies keep abroad to avoid paying taxes. Reducing the tax rate
so that they would bring the money back and use it here would be
a clear boost to the economy. Besides the cash itself, it would also
send a positive message to business, instead of the demonizing of
late.

What makes you think they would bring the money back to America even if
taxes were lowered somewhat?

Taxes would have to be lowered by a tremendous amount to compensate for
the wage differential between the U.S. and the developing world; and to
compensate for the higher costs here due to health care and
environmental regulations. I don't think we can lower taxes that much
without blowing another big hole in the Federal budget.





-- Steven L.