Get your barf bags ready: PepsiCo Says Cut U.S. Taxes on Foreign Profits to Boost Hiring

(Bloomberg) U.S. companies might hire more workers if the U.S. were to cut the tax rate on cash that companies bring home from foreign subsidiaries, PepsiCo Inc. Chief Executive Officer Indra Nooyi said.

Some company profits are “trapped in overseas countries because the tax rate to bring them back is extremely high,” Nooyi said in an interview on CNN’s “Fareed Zakaria GPS” program, scheduled for broadcast tomorrow. Taxing repatriated cash at 15 percent, compared to the top corporate rate of 35 percent, is “a creative way to address unemployment, without adding to the deficit,” Nooyi said.

President Barack Obama and some U.S. lawmakers have mentioned lower corporate tax rates as they debate how to reduce the nation’s 8.8 percent unemployment rate while also bringing down the federal government’s more than $14 trillion debt. In exchange for lower rates, tax deductions and credits would be eliminated to raise revenue, according to the proposals.

U.S. companies face the sixth-highest effective tax rate in the world, according to an April 14 study by PricewaterhouseCoopers LLP. The tax rate for the largest U.S. companies between 2006 and 2009 was 27.7 percent, compared with a non-U.S. average of 19.5 percent, according to the study. ............(more)

The complete piece is at: http://www.bloomberg.com/news/2011-04-16/pepsico-says-cut-u-s-taxes-on-foreign-profits-to-boost-hiring.html

We've been fooled by this bullshit for too long now.

that list of things for which I despise them.

We make it even more profitable for them to do business in other countries and they will hire more here... WTF?

And they didn't create any new jobs out of the deal -- they paid it out in dividends instead.

I thought you could. :eyes:

losing money but the bottom line is that companies do not hire people unless they need them and if they need people to handle the increase in sales then they would hire them tax cuts or not. tax cuts are purely a bonus to the bottom line. As a business owner I hate this shit. To take the opposite viewpoint, If a company needed tax cuts to survive then they have a terrible business model and I wouldn't want my tax dollars subsidizing a company run by failed management....Period.
Now that's reality. A conservative reality and stick that up your ass.

Then they can lay off half their work force and claim "innovation".

Unless the Dems. (or anyone) stands up.. it's only going to get worse.

Both are s**t!