Paul L. Caron

Wednesday, July 25, 2012

You Say You Want a Repatriation . . .

Tax Analysts Pat Oglesby (Center for New Revenue), Repatriation to the Tune of 'Revolution', 136 Tax Notes 123 (July 2, 2012):

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.

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It is obvious why the author is a tax nerd and not a poet. The word "revolution" has 4 syllables; "repatriation" has 5. I just don't scan, man.

Posted by: Darth Chocolate | Jul 25, 2012 5:21:49 AM

Let me tell you how it will be
There's one for you, nineteen for me
'Cause I'm the taxman, yeah, I'm the taxman

Should five per cent appear too small
Be thankful I don't take it all
'Cause I'm the taxman, yeah I'm the taxman

If you drive a car, I'll tax the street,
If you try to sit, I'll tax your seat.
If you get too cold I'll tax the heat,
If you take a walk, I'll tax your feet.

Don't ask me what I want it for
If you don't want to pay some more
'Cause I'm the taxman, yeah, I'm the taxman

Posted by: Bob | Jul 25, 2012 9:42:34 AM