Repatriated Dollars Without Tax Consequences

Thirty-five big U.S. multi-national companies added jobs much faster than other U.S. employers in the past two years, but nearly three-fourths of those jobs were overseas, according to a Wall Street Journal analysis.  Those companies, which include Wal-Mart, International Paper, Honeywell International, and United Parcel Service, boosted their employment at home by 3.1%, or 113,000 jobs, between 2009 and 2011, the same rate of increase as the nation's other employers.  However, these companies, also, added more than 333,000 jobs in their foreign operations.

U.S. corporations have $800 billion in cash outside the confines of America.  So, what is happening?  All this cash that lies overseas is creating jobs outside the US.  This is very apparent when one looks at those aforementioned companies, whereby the job creation overseas is 3:1 of what it is here.  Why is this happening?  Well, if that $800 billion is brought back home, it will be taxed at 35%.  Therefore, these corporation have reinvested those dollars in jobs overseas.   I firmly believe that we should allow those companies to repatriate those dollars without any tax considerations.  If so, those dollars would hopefully be invested in job creation opportunities for Americans.  Why not?  We are not collecting those tax dollars now.