A Better Stimulus Plan? Check it out...

Eric Bolling of Fox Business News suggested a stimulus plan that would actually help beat the recession and get us on track.

Businesses are holding a little over 3 TRILLION dollars overseas. They will never bring that money back to America because the I.R.S. would hit them with a 35% tax rate - the highest in the free world.

But what if businesses were granted "tax amnesty" on that money PROVIDED that, instead of paying 35% to the government, they are contractually bound to re-invest a minimum of 25% into jobs and equipment? After all, if we do NOT do this we would not get the 35% in taxes, anyway, because they would leave that money overseas. We lose nothing with this plan, and gain 3 trillion dollars back to America, and a trillion invested in expansion and new jobs.

Every company wants to expand - it increases their profits. So, every company with money overseas would bring it back home. And nearly a trillion dollars would be punped into creating jobs.

Best of all, that trillin dollars would not be coming out of the taxpayers  pocket...

I realize that many liberals would simply complain that this is another "tax break for the rich", because they simply do not understand. So here it is - they are not going to pay any tax on that money in any case, whether we do this plan or not - they would just leave that money overseas. And the stipulation tio reinvest 25% would provide America and unemployed people with far greater benefit that the taxes would have. After all, if the government could tax that money at 35%, are you really so naive as to believe the government would use it to directly create jobs? Of course not - it would - it would be wasted on a research center for the arts, or tunnels for turtles, or $14.8 million as payback to Level 3 Corporation for getting Obama $500,000 in campaign contributions.

Frankly, I think this idea is so good that we should consider giving businesses tax amnesty altogether, provided they use the equivalent to create jobs. If not, they pay their taxes.

Imagine, if corporations were required to reinvest 35% of their net profits directly into new hires and the equipment and facilities to put them to work, instead of paying that 35% to a wasteful government? We would be out of this recession in a month.

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