Ironically, our national debt exploded for the 1st time in the 1980s under Ronald Reagan. We’re simply doing the same thing again. And its exploding again.
Some people never learn.
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Corporations and upper earners have been making record profits and exponentially growing their income/wealth while shipping jobs overseas. Why should they be rewarded with more tax breaks while the middle class struggles to pay for health care and education? The GOP so consistently votes against their own interests.
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Was all of their actions abiding by the laws? If so, change the laws…like what the tax rate is. Before I did this though, I would forecast the net effect of doing such. I hate to assume but I assume that was done and this is the right thing to do? I know this…doing the same thing was NOT the right course.
I think it’s because Republican media never talks about that stuff.
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what mass exodus?..no matter where the cash is, the assets are still on the balance sheet. the companies (and profits!) are still are still owned by almost entirely by American stockholders…so the whole idea that we need to bring the cash back to the US is stupid…Companies borrow against this overseas cash all the time…especially when interest rates are at historic lows.
So we brought those profits back and the companies overwhelmingly used them on stock buybacks. Yay? We ■■■■■■■ told you what would happen and it did. But I’m 20 years you peeps will ■■■■■■■ try it again.
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All because richer Republicans push a narrative (to enrich themselves more) and average republican voters aren’t savvy enough to see through the power play.
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I’m not seeing your point. Tax rates have been on a consistent downtrend for decades and they still ship overseas. Its not about taxes. Its about profits plain and simple. They dont give a ■■■■ about you or this country or the middle class. Theyve grown their wealth and profits exponentially these last 4 decades and are doing just fine. They dont need tax breaks. Theyve gotten them over and over and over already. They dont care about you. Quit voting against your interests.
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Trust me. If you give me all the cookies I promise you that you can have one. First though you have to mow the entire lawn. Its my lawn though and these are my cookies. Starve to death otherwise. Bootstraps! First, I need more cookies. Otherwise, you cant live without me.
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The cash I’m speaking of moved out of the country to avoid taxes. This article says 2.5 trillion between 06 and 16. What did we lose then and would that money generate in tax revenue every year there after?
https://dailycaller.com/2016/09/19/us-companies-moved-2-5-trillion-overseas-to-avoid-taxes/
I believe that but I don’t care about that. We have to have laws that doesn’t allow our economy to be raped and transferred to other countries. If I were king, if a business doing business in the US isn’t a US company, then the country in which they claim gets a balance to sell in our country equal to what we do in theirs. Any negative imbalance gets monetarily penalized with the attempt to balance what’s being lost. If you want to sell in this market, you must help sponsor it. If I were king, Jeff Bezos along with everyone would pay their share of taxes.
We have those. They are called current accounts/balance of payments. Dollars flow back in the form of investmemt (since dollars are exchanged for foreign currency).
you said that there is a mass exodus. No companies are leaving, they are just keeping the cash overseas to lower the taxes and increase profits, thereby enriching their (American) shareholders. examples:
Apple, Amazon, Microsoft.
for example…Apple has $250 billion cash overseas and $100 billion in debt. The interest on the debt is cheaper than the tax…
OMG. So you recognize historical data has shown that the tax cuts don’t seem to work as anticipated. But something has to be done so why not try a failed policy once again and hope it turns out differently?
interesting. what industry do you work in? where do all the parts and labor come from?
