What should be done, if anything, to bring home $5 trillion held overseas by American businesses?

[ColonelAngus]

It would be nice to have some of that money come back home.

 

[blastoff]

Lower the tax bite and the dough wil come flowing in.

 

[HereWeGoAgain]

Didnt Trump propose a small one time tax for those who bring their money back to the U.S.?

 

[Dim Bulb]

Didnt Trump propose a small one time tax for those who bring their money back to the U.S.?

I think that's right and is the right policy. That plus lowering the US corporate tax rate on an ongoing basis would help as well.

 

[ColonelAngus]

Didnt Trump propose a small one time tax for those who bring their money back to the U.S.?

That would be good if it's part of a tax cut bill.

 

[Mac1958]

Two-year tax amnesty.

 

[ColonelAngus]

I'd like to maybe see a 10% tax on the money.


If there is $5 trillion overseas and none of it comes back, we got nothing.

35% of $0 is $0.

Let's say $1 trillion comes back....only 20% of the $5 trillion

10% of $1 trillion is $100 billion.

The math I was taught in elementary school, $100 billion >>>>>>>>>$0.

Where am I wrong?

 

[Disir]

It would be nice to have some of that money come back home.

So that the rest of us aren't sacked with it? Yep.

 

[pwjohn]

Make all earnings taxable. Overseas and here at home. Earnings held overseas taxed at a much higher rate.

 

[danielpalos]

Lower the tax bite and the dough wil come flowing in.

wouldn't that require reducing spending or increasing debt?

 

[danielpalos]

Two-year tax amnesty.

should we end the drug war for two years to compensate for lost revenue?

 

[Mac1958]

Two-year tax amnesty.

should we end the drug war for two years to compensate for lost revenue?

What lost revenue? That's money that's overseas right now.
.

 

[EvilCat Breath]

Some of that money is from earnings from American citizens that have not set foot in this country for decades and already paid tax on that money in that country.

It's is stupid. Taxes have already been paid on this money. Allow a deduction for the taxes paid. That's what obama ended. He ended the deduction for taxes already paid.

 

[EvilCat Breath]

Two-year tax amnesty.

should we end the drug war for two years to compensate for lost revenue?

What lost revenue? That's money that's overseas right now.
.

Can't you tell this came from a doper?

 

[Rustic]

Make all earnings taxable. Overseas and here at home. Earnings held overseas taxed at a much higher rate.

Far too much overreach…

 

[Care4all]

It would be nice to have some of that money come back home.

Why?

So we can tax it, even if the tax is minimal???

What happens to the money in foreign banks if it gets transferred to a US Bank???

It should be obvious that I don't get it????

 

[sealybobo]

It would be nice to have some of that money come back home.

Give em a window to bring it home tax free

 

[Synthaholic]

It would be nice to have some of that money come back home.

Tell them that the tax rate they pay on it will go up every quarter until they bring it home.

 

[ColonelAngus]

It would be nice to have some of that money come back home.

Why?

So we can tax it, even if the tax is minimal???

What happens to the money in foreign banks if it gets transferred to a US Bank???

It should be obvious that I don't get it????

The money is earnings that would be taxed at 35% if brought into US banks. The USA has among the highest corporate tax rate of any nation on earth.

If that money comes to the USA, the corporations can use it to expand in the US. Lots of downstream tax revenue for the gubmint.

 

[Care4all]

Does this money brought home just move from a foreign bank to a USA Bank and that's it?

Or does it somehow create more jobs here???