What do you think of Newt Gingrich's idea to allow repatriation of profits?
Newt and several other Republican hopefuls have embraced the idea of stimulating jobs here by putting more money in the hands of the “job creators”. Newt has several ideas that will rapidly put more money in the hands of those who already have a great deal of it. One specific idea he pressed in last night’s debate was allowing US corporations to bring foreign profits back onshore tax free. Currently these corporations often set up corporations in a PO box in some small island nation that provides an absolute tax shelter, and they leave the profits on the books of the branch office that lives inside that PO Box.
What do you think of Newt;s idea to get the US back to work. Is it actually a job creator, job neutral or job killer? Please explain your answer.