-The Economist, April 28, 2011
http://www.economist.com/node/18621038?story_id=18621038
A study of the most recent such tax holiday, in 2004, suggested it had little effect on employment and investment, with most of the benefits going to shareholders…. Nonetheless, points out Alan Auerbach, an economist at the University of California, Berkeley, the idea of another tax holiday, “like a lot of bad ideas, has bipartisan support.”
-California Watch, April 29, 2011 by Kendall Taggart
http://californiawatch.org/dailyreport/some-companies-skirt-state-income-tax-10065
“Companies have two separate sets of books: one for their tax returns and one for what they report on their financial statements,” said Alan Auerbach, professor of economics and law at UC Berkeley. “Since the tax returns are confidential, we don’t really know.”