{"id":16473,"date":"2012-07-19T10:31:57","date_gmt":"2012-07-19T09:31:57","guid":{"rendered":"http:\/\/www.taxresearch.org.uk\/Blog\/?p=16473"},"modified":"2012-07-19T16:17:49","modified_gmt":"2012-07-19T15:17:49","slug":"what-we-really-need-is-a-tax-on-companies-sitting-on-cash-piles","status":"publish","type":"post","link":"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/07\/19\/what-we-really-need-is-a-tax-on-companies-sitting-on-cash-piles\/","title":{"rendered":"What we really need is a tax on companies sitting on cash piles"},"content":{"rendered":"<p>I've long argued that big business is hoarding cash simply because it cannot think of\u00a0anything\u00a0to do with it. David Cay Johnston in the US <a href=\"http:\/\/blogs.reuters.com\/david-cay-johnston\/2012\/07\/16\/idle-corporate-cash-piles-up\/\" target=\"_blank\">shares this view and made this\u00a0video<\/a>:<\/p>\n<p>http:\/\/www.youtube.com\/watch?v=Ia4QwztEjxg&feature=player_embedded#!<\/p>\n<p>As he shows, US non financial\u00a0corporations\u00a0have $4.8 trillion in cash - or about $16,000 for everyone in the US.<\/p>\n<p>That's why they don't need tax breaks to invest - they already have all the cash they need. They just can't find anything to do with it. So they're trying to capture public revenues for private gain\u00a0instead\u00a0because it is the only\u00a0way\u00a0they can think to make money right now.<\/p>\n<p>I have a better idea. Let's tax them and pout the money to use in the\u00a0public\u00a0sector where there is masses to be done. We can be selective - we just need to tax companies with excessive cash. But the\u00a0impact\u00a0on\u00a0recovery\u00a0and debt would be significant. And that's why this is a good idea. Why should those without suffer because those with are hiding their cash behind\u00a0corporate\u00a0barricades?<\/p>\n","protected":false},"excerpt":{"rendered":"<p>I&#8217;ve long argued that big business is hoarding cash simply because it cannot think of\u00a0anything\u00a0to do with it. David Cay Johnston in the US shares<br \/><a class=\"moretag\" href=\"https:\/\/www.taxresearch.org.uk\/Blog\/2012\/07\/19\/what-we-really-need-is-a-tax-on-companies-sitting-on-cash-piles\/\"><em> Read the full article&#8230;<\/em><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-16473","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/16473","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/comments?post=16473"}],"version-history":[{"count":0,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/posts\/16473\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/media?parent=16473"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/categories?post=16473"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.taxresearch.org.uk\/Blog\/wp-json\/wp\/v2\/tags?post=16473"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}