Economically? Stagnated working and middle class real incomes. Automation-related job disappearance.
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Replying to @wwwwwww2y @Roy__Cohn
Unlikely. It presumes firms want to hire, but don't have the money to do so. But profits and cash reserves are high, borrowing costs low.
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Replying to @NGrossman81 @Roy__Cohn
They tend to use tax havens as an accounting trick, not as production locations. Tax holiday create some repatriation, raising some revenue.
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Replying to @NGrossman81 @Roy__Cohn
But when that's happened in the past, the result has mostly been things like share buybacks and dividend increases, rather than hiring.
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Replying to @NGrossman81 @Roy__Cohn
And it creates moral hazard. Basically tells corporations to hide money in overseas tax havens and wait until the next tax holiday.
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Exactly. It's a trade off. Either Paris Hilton, Donald Trump Jr., etc. pay something when their parents die. Or millions pay something now.
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