Monk-Eye
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- Feb 3, 2018
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" China Not Required To Pay Taxes On Bond Interest That Is Required Of US Taxpayers "
* Senator Letter To Department Of Treasury About Unfair Advantage *
Does anyone have information on where the policy may be located which does not require china to pay taxes on bond interest ?
www.ernst.senate.gov
WASHINGTON – U.S. Senator Joni Ernst (R-IA) is calling out China for taking advantage of a tax loophole that could be costing American taxpayers billions while not living up to its end of our trade agreements. She’s also urging the U.S. Treasury Department to calculate and disclose to taxpayers the true price of the United States’ debt to China and other nations, including the cost of the interest we pay and the revenues lost due to the tax loophole.
The Iowa senator continues: “The Department of Treasury maintains a monthly accounting of major foreign holders of U.S. debt that serves as a great reminder of the more than $1 trillion we are in debt to the Chinese. What is not as transparent is how much China profits from our red ink, both in terms of dividends paid on the interest off of Treasury bonds and a special loophole that exempts those profits from taxation. If its government-owned industries were treated the same as a U.S. citizen or small business, China would be required to pay taxes on the interest earned on the Treasury bonds that our government sells as a way to borrow money. Due to a decades old trade deal, however, China pays no tax on U.S. Treasuries, which allows it to make off with billions of dollars that would otherwise be owed to the U.S.”
* Senator Letter To Department Of Treasury About Unfair Advantage *
Does anyone have information on where the policy may be located which does not require china to pay taxes on bond interest ?
Ernst Exposes Special Tax Loophole for Communist China | U.S. Senator Joni Ernst of Iowa
WASHINGTON – U.S. Senator Joni Ernst (R-IA) is calling out China for taking advantage of a tax...
www.ernst.senate.gov
The Iowa senator continues: “The Department of Treasury maintains a monthly accounting of major foreign holders of U.S. debt that serves as a great reminder of the more than $1 trillion we are in debt to the Chinese. What is not as transparent is how much China profits from our red ink, both in terms of dividends paid on the interest off of Treasury bonds and a special loophole that exempts those profits from taxation. If its government-owned industries were treated the same as a U.S. citizen or small business, China would be required to pay taxes on the interest earned on the Treasury bonds that our government sells as a way to borrow money. Due to a decades old trade deal, however, China pays no tax on U.S. Treasuries, which allows it to make off with billions of dollars that would otherwise be owed to the U.S.”
