6 Republican Economic Myths Obama and Dems Must Stop Repeating

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Second, giant US corporations have also been lobbying for the exemption of their foreign subsidiaries from American corporate taxes under what is called a” territorial tax” system. Currently, the Fix the Debt coalition of 95 major firms is using the “fiscal cliff” negotiations as an opportunity to press for a territorial tax system. This huge new exemption would save them $134 billion in taxes, according to a new Institute for Policy Studies analysis.

This pervasive pattern of reiterating the Right’s thoroughly false but politically potent talking points ultimately raises the question of why Obama and the Democrats have failed to effectively develop and promote an alternative economic philosophy and strategy.