04
Oct
11

Proof That Tax Holidays For Big Business Destroy, Not Create, Jobs

I can’t put my life on hold today to work more on Occupy Wall Street stuff, but I can pass this along quickly.

We hear a repeated call on the part of big business and its chorus of free-market think tank shills for a “one time” tax holiday on profits US corporations have stashed overseas.  The line is the usual one: you can’t tax us, otherwise we can’t create any jobs such as those we didn’t create over the past ten years even though you cut our taxes exactly like we demanded.

To the surprise of nobody, this notion is completely disproved by a 2004 study showing the effects of the last “tax holiday” granted to big business. They took the tax break, then fired tens of thousands of people immediately following.

As Stewart Lee once said:  “Well.  You can prove anything with facts, can’t you?”

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