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Repatriation to the Tune of 'Revolution'

2 Pages Posted: 10 Jul 2012  

Pat Oglesby

Center for New Revenue

Date Written: 2012

Abstract

Making fun of proposals to grant a tax holiday for repatriated earnings of U.S. multinationals, four footnoted stanzas to the tune of the Beatles’ ‘Revolution’ say: (1) A 2004 tax holiday did not cause repatriating parents to add U.S. jobs. (2) Much of the money held offshore was artificially shifted there to avoid U.S. tax. (3) The argument that corporate distributions (as opposed to hiring) will boost the economy provokes the response, “So what?” (4) The proposed holiday schemes are budget busters.

Taking issue with the those who oppose all new taxes, the piece concludes, “if in your fantasy our Uncle Sam should drown,/You don’t give a damn if your schemes bring the country down. We ought to make you pay/That tax.” A footnote-free version with added lines suitable for singing is also available via the author's blog.

Suggested Citation

Oglesby, Pat, Repatriation to the Tune of 'Revolution' (2012). Tax Notes, Vol. 136, No. 1, 2012. Available at SSRN: https://ssrn.com/abstract=2103269

Pat Oglesby (Contact Author)

Center for New Revenue ( email )

1830 North Lakeshore Drive
Chapel Hill, NC 27514

HOME PAGE: http://www.newrevenue.org

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