tag:blogger.com,1999:blog-6432394575296718523.post119525915571672296..comments2023-02-13T03:41:17.914-05:00Comments on The MJR Report: Google, Apple Hire High-Profile Lobbyist To Ask Congress For A Tax HolidayTHE MJR REPORThttp://www.blogger.com/profile/17799759172492320310noreply@blogger.comBlogger1125tag:blogger.com,1999:blog-6432394575296718523.post-24091557536835655742011-10-02T22:27:16.454-04:002011-10-02T22:27:16.454-04:00The 2004 tax holiday under the second Bush added n...The 2004 tax holiday under the second Bush added no new tax money to the IRS. The economy didn't benefit because none of the thousands of jobs promised by the multinationals that got the tax break were created.<br /><br />More than 90% of the funds repatriated were used to pay cash dividends to stockholders and for stock buybacks. Wealthy stockholders got a tax break on cash dividends paid by multinationals. Stock buyback programs were used to increase the price of stocks so that CEO could earn seven figure bonuses based on the appreciation of their company's stock value.<br /><br />Who paid for these goodies for the rich and multinationals? Middle class USA citizens. That's what happens when republicans, specially the new breed of tea party irrationals, run their country.FJhttps://www.blogger.com/profile/11452488031631811053noreply@blogger.com