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Getting paid to borrow

The U.S. tax code encourages companies to borrow large amounts of cash because funding investments with debt can actually result in a negative effective tax rate:

Graphic shows how the U.S. tax code encourages companies to borrow large amounts of cash because funding investments with debt can actually result in a negative effective tax rate:

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Why companies can't resist
Article | Macy's has become the great American department store, with 850 locations scattered across all but four states. And it has gotten there the great American way, by running up huge debts and flirting with default, or worse.

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