I was wondering why the US dollar didn’t continue to slide this year. I figured it must have been the bad European economy. The actual answer is that the US quietly passed a law allowing companies with money in foreign tax shelters to “repatriate” their funds for one year at a tax rate of 5.25% rather than the usual 35%. Wouldn’t you like to be taxed at 5.25%?
I wonder how many more cards the US can play before their country goes USSR?