As part of its radical but still mostly undefined tax plan, the Trump administration proposed a tax holiday for corporate earnings stored overseas. Reporters have been hearing on background that the tax rate would be slashed from 35 percent to 10 percent.

But judging from the last time it was tried, most of the cash Donald Trump would allow megacorporations to bring home from overseas at a bargain-basement tax rate would end up being used by corporate executives to inflate the prices of their stocks, thereby enriching themselves and their biggest investors — and doing little to employ Americans and grow the real economy.

Continue reading “Bush Already Tried Trump’s Proposed Corporate Tax Holiday and It Was a Total Failure”