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Detailed text transcripts for TV channel - MSNBC - 20110628:22:58:00

the companies use the cash to go offshore to buy back shares. it wasn t used to hire people. the company leading the charge of the repatriation is cisco. cisco is in a situation where the stock is falling 25% over this year. they want money from overseas to buy back shares and pay off dividends to pay back shareholders. buying back shares is what this is about. that s all it s been about. they want cash from offshore, tax free to buy back shares. to bypass your point, they brought back $299 million. it didn t go towards job creation. it s not going to go next time. i give you a quote for paul ryan. he said, quote, it s a good idea. we ought to have it every day instead of a repatriation every seven years, let s have it every day. does that mean he thinks that the corporation should pay 5% in

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