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And the corporations only hold out for a repatriation holiday because there has been one in the past, and there is a decent chance of there being one in the nea
by cmsmith 11y ago
And the corporations only hold out for a repatriation holiday because there has been one in the past, and there is a decent chance of there being one in the near future. This is a slippery legislative cliff - once you indicate a willingness to have the holiday, there is no point in not just dropping the tax rate permanently since no one will bring their billions in otherwise.
I wonder what would happen if we passed an un-repealable law (if such a thing existed) that prohibited tax holidays for the next thirty years?
- minthd 11y agoIf they use their money to purchase other companies or invest in r&d , this isn't taxed, right ?
- Kalium 11y ago> I wonder what would happen if we passed an un-repealable law (if such a thing existed) that prohibited tax holidays for the next thirty years? It's really not possible. We can even repeal constitutional amendments.
- progmanal 11y agoYou could change the amendment process at the same time the amendment was amended that you don't want repealed.
- cmsmith 11y agoHence my parenthetical. But since you mentioned amendments, you should look into the Corwin Amendment [1], which was written to preclude its own repeal. The amendment was an all-in attempt to appease the slave states and prevent the Civil War, but was too little and too late. The purpose may be distasteful to the modern reader, and may not have held up in court ('Can Jesus microwave a burrito so hot that he cannot eat it?'), but it's there. [1] http://en.wikipedia.org/wiki/Corwin_Amendment http://en.wikipedia.org/wiki/Corwin_Amendment
- 0xffff2 11y agoI'm no lawyer, but I don't see how the text of the amendment would preclude its own repeal. Repealing the amendment in and of itself wouldn't have any effect at all on slavery. The only argument I can see would be that repealing the amendment would implicitly grant power to abolish slavery, but that seems like thin ice to me.
- progmanal 11y agoI believe one of the only ways to do that is with a constitutional amendment. Those are hard to pass.