14 percent on accumulated profits is outrageous, because these companies may no longer have the cash. They may have invested it overseas, because the US business environment is so heavily taxed and regulated.
As an investor, I’d urge the companies I hold shares in to get out of here. Obama’s fostering fascist behavior... where the government sucks all the juice out of the ostensibly privately owned enterprises, and directs their activities thruough law and regulation.
This would make the dollar even stronger, meaning the companies that repatriate their money will be even worth less than the previous 12 years or so. A bill for repatriation of U.S. Dollars might pass the congress, but companies will not do it if the economics don’t pencil out.
Many socialist / fascist countries raid banks and businesses in their own borders.
This proposal is unique for trying to seize assets in OTHER countries.