Here’s a quick headline sample from the past few months:
I don’t think that any of these pieces address this point: Continue reading
Foreign profits earned by American companies are not taxed by the United States until the profits are ‘brought home’ (i.e., repatriated).
Republicans have floated the idea of a ‘tax holiday’ on repatriated foreign profits so that companies are given an incentive to bring overseas profits home, so they can reputedly be invested, and thus create jobs here in the States.
Not only is this a bad idea in terms of tax policy, but even discussing it is bad tax policy. Allow me to relate an anecdote to explain, but be patient. It will take a little while to get back to my point. Continue reading
Maverick Economist Alfred Kahn has a penchant for candor that is both refreshing and dangerous in Washington. When he said that there is the possibility of a “deep, deep depression” if inflation continues to soar, the President was furious. Kahn responded by purging the word depression from his vocabulary and instead using “banana.” So he now says: “We’re in danger of having the worst banana in 45 years.”
– Business: Yes, We Have No Bananas (http://www.time.com/time/magazine/article/0,9171,919922,00.html)
Words have power. That’s why an ad slogan is so persuasive. It’s why people polish speeches. It’s why society sometimes considers words taboo.
Sometimes, words are taboo for politically expedient reasons. Economist Alfred Kahn learned this when he felt forced to substitute the word “banana” for the word “depression”. Continue reading
