I can’t figure out what’s wrong.
I have consistently inveighed against the idea of providing our multinational corporations the opportunity to bring their foreign profits back to our shores at a much reduced tax rate. It doesn’t help with jobs or growth—last time they used the hundreds of billions in proceeds from the tax break to buy back their own stock, or they increased their dividend payouts. And it would cost the Treasury $80 billion over 10 in terms of forgone revenue.
Yet despite at least two or three blogs on the topic, it hasn’t died. It must be this: it’s a chart by Bloomberg showing the Congressional and White House roots of the lobbyists pushing for the tax break.
It’s an ugly picture. But I’m sure there’s nothing unusual about this aggregation—I suspect any bill that doled out some serious goodies like this would attract a similar crowd.
But it allows me to stop wondering why my blogs haven’t won the day on this yet.
(You know I’m kidding about that, right…?)