“Tax Repatriation Holiday”: Choosing Words Strategically
[A more legible .pdf version of this posting is downloadable at http://papers.ssrn.com/sol3/papers.cfm?abstract_id=1963951.]
“The real goal . . . is to determine what ‘story’ a client wishes to tell about his product and then find a word that evokes it—and spurs the impulse to buy.”[1]
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Tax policy turns on terms. Witness the deliberate and effective popularization of the term “Death Tax.”[2]
Now, the “product” being offered in H.R. 1834[3] is a temporary, targeted 85-percent dividends received deduction: an ultra-low tax rate on foreign earnings that U.S. multinationals have trapped in offshore subsidiaries, most often in tax havens.[4] Its common name is “Repatriation Holiday.”[5]
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