FACTS not guesses... Trump's repatriation program brought back over $1 trillion of which
U.S. companies have repatriated $1 trillion since tax overhaul
Before the overhaul, companies had an incentive to keep profits overseas because they owed a 35% tax when bringing it back and could defer payment by keeping funds offshore. The law set a one-time 15.5% tax rate on cash and 8% on non-cash or illiquid assets.
That's still short of the $4 trillion in overseas profits that President Trump would return as a result of the 2017 tax law.
www.latimes.com
Which in turn caused nearly $350 billion in addition revenue...
PLUS whatever happened to the repatriated amount in dividends (which are taxed again!!!), new buildings, new hires, new equipment by the companies that repatriated.
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