Trump Could Bring Home $2.6 Trillion in Offshore Profits

Lifezette ^ | 27 Dec 2016 | 27 Dec 2016

[GonzoII]

At least $2.6 trillion in American corporate profits are parked outside the country, and President-Elect Donald Trump’s major tax reform plan could bring it back into the United States — which could provide a big boost to the economy and federal revenue.

Trump’s plan is part of his larger business tax plan to lower the corporate tax rate from a top rate of 35 percent down to 15 percent.

A key element is also providing a one-time tax rate of 10 percent on offshore corporate profits brought back to the United States, or repatriated money. After the one-time tax, the country would move to a “territorial” tax system, meaning only profits earned inside the country would be taxed. Ideally, this would do away with a disincentive for companies to reinvest inside the United States.

[Impy]

I’d like to decrease government revenue, starve the beast.

[Revolutionary]

You can draw a box around any geographical location and if more money is coming into that box than is going out, then you have prosperity. If more money is going out, then the area slowly withers. Centralized utilities and the loss of the small town banks are hurting many towns. Many of the small towns in the planes have been adversely affected.

Repatriation of this money is a big, big deal to the economy. Add this to the pile of cash many of the big companies have been sitting on to survive liberal economic planning, and you really have something.

[rdb3]

bert, are we really surprised by this bickering?

President-elect Trump won because he will take action on the southern border/illegal immigration, the economy, terrorism, MAGA, and patriotism.

We haven't had a President like this in ages, yet FR's very own usual naysayers continue to complain, complain, and complain even though he isn't even inaugurated yet!

Some FReepers are NOT what they purport to be.

Jesus Christ: You can't impeach Him and He ain't gonna resign.

[SuziQ]

It ain’t what it used to be. And if you think any company is planning to a) vest after 1 year or b) have a generous match, you’re smokin wacky terbacky.

The Credit Union for which I work will match 401K contributions up to 6%. Each year you're vested 20%, so that when you've completed 5 years, you're 100% vested. Now if you left in the third year, you get everything YOU contributed plus 60% of what the company had matched. I just finished 5 years, so if I left tomorrow, I'd get everything I contributed and everything the company matched, as well as the Discretionary Contributions that they gave each year, equal to about 2 weeks pay. I've left it with the investment group, which sends out regular letters showing the growth in the plan. When I leave, I can take it and invest it as I like.