No. The repatriation tax was only for assets being returned from overseas. Doesn’t apply to appreciation in domestic assets.
Companies were thrilled with Trump’s proposed legislation.
“No. The repatriation tax was only for assets being returned from overseas. Doesn’t apply to appreciation in domestic assets.”
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Not yet. But the door was just opened; give them some time.
“Companies were thrilled with Trump’s proposed legislation.”
This may turn out to be an example of winning the battle only to lose the war.
A future domestic wealth tax passed by a future Congress and upheld by a future Supreme Court could destroy the economy quickly.
An argument could be made that the history of the last one hundred years has been a great country tiptoeing its way into oblivion.
No one small step was that awful—but together they created an unstoppable disaster.