The fungible nature of money combined with accounting legerdemain translates into some of the "overseas" profit coming from America. It's tax evasion, pure and simple. The previous tax holiday was given the go ahead in part because it was suppose to result in investments and new jobs. 92% of the money "repatriated" went towards dividends, stock buybacks, and executive bonuses, though.

I think any tax holiday should be done on the basis of the company using the money for capital expenditures, R&D, hiring and employee pay here in the U.S. Further, I'd look into the idea of abolishing corporate tax entirely -- for a price. The price would be that only a natural person can donate to campaign funds and/or engage in lobbying. As it stands now, not only do we have a bicameral system of government, we have a bicameral voting system, too. In one house it's one person one vote. In the other it's one dollar one vote. Who has the numbers? Okay, I don't mean that literally, but that money so greatly influences legislation and policy that I sometimes wonder how different we are from the old joke about voting in communist countries. You know, the one with the ballot that reads Mr. A. (Communist Party), Mr B. (Communist Party), Mr. C. (Communist Party). Again, I'm hyperbolizing, but still.

Sorry I haven't answered the Sachs article. Vacation and playing catch up for the time off are to blame. Oh, and don't think a third party will be of much help. The other two will actually act in a bipartisan manner to stymie and thwart the newcomers. Should they succeed in spite of the Dems and Reps, then venality, subornation, and a bit of time will lead to the same rot. A charismatic visionary might be able to pull it off, I guess. Often as not, though, they take a wrong turn.

Another "oh"! Something you said in a different post, the one on taxes, very nearly echoes my own ideas. My distaste for the "taxes are the price for civilization" rejoinder makes my lip curl. I follow that up with asking whether we're getting our money's worth. That seems to me to be a better way of looking at things than just singling in on percentage number. And we're definitely not getting our money's worth in America. If I'm not making sense it's because I'm tired, really tired. I need a beer. Later.