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2016 Postmortem
Related: About this forumWho will be the president that forgives the taxes on the $2.5 trillion corporations are holding
overseas? Corporations don't have to pay taxes on wealth they accumulate overseas until they bring it back to the US. So they stockpile it until they get a cooperative president that will wave the tax for a one time event to bring that money back. I think Bush did it and it's about time to do it again. Will it be Obama? Clinton? Trump? Sanders would never go along with it. These are taxes desperately needed to balance our budget in lieu of cutting SS and Medicare.
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Who will be the president that forgives the taxes on the $2.5 trillion corporations are holding (Original Post)
rhett o rick
May 2016
OP
She voted for a tax holiday on repatriated funds included in the American Jobs Creation Act of 2004.
AtomicKitten
May 2016
#5
Sorry but I can't see responses 2 and 3. I bet they are substantial too. nm
rhett o rick
May 2016
#7
My wife - the Wall Street tax lawyer - has always thought this was a terrible idea...
brooklynite
May 2016
#9
sadoldgirl
(3,431 posts)1. That will probably happen right after
the TPP and the TTIP signature.
rhett o rick
(55,981 posts)4. I think Obama just before he leaves. nm
hrmjustin
(71,265 posts)2. Not Clinton.
hrmjustin
(71,265 posts)3. Not Clinton.
AtomicKitten
(46,585 posts)5. She voted for a tax holiday on repatriated funds included in the American Jobs Creation Act of 2004.
69 Senators voted yea, including 25 Democrats.
https://www.govtrack.us/congress/votes/108-2004/s211
Clinton was one of 69 Senators who voted for the disastrous American Jobs Creation Act, which included a repatriation holiday for corporations. This holiday turned out to be a debacle. The lavish tax breaks it gave to multinational corporations did not lead to any job creation and gave companies a green light to stash even more of their profits offshore to avoid taxes in hopes of receiving another holiday in the future.
link: http://www.taxjusticeblog.org/archive/2015/04/what_we_know_about_hillary_cli.php#.VzNtONIrI2w
link: http://www.taxjusticeblog.org/archive/2015/04/what_we_know_about_hillary_cli.php#.VzNtONIrI2w
rhett o rick
(55,981 posts)6. She is the corporations best friend, at the expense of the lower classes.
rhett o rick
(55,981 posts)7. Sorry but I can't see responses 2 and 3. I bet they are substantial too. nm
B Calm
(28,762 posts)8. K&R
brooklynite
(95,076 posts)9. My wife - the Wall Street tax lawyer - has always thought this was a terrible idea...
...unless the resolution builds in protections against them doing this again.
rhett o rick
(55,981 posts)10. Sadly any built in protections can be unbuilt the next resolution. nm
