What should be done, if anything, to bring home $5 trillion held overseas by American businesses?

[Faun]

It would be nice to have some of that money come back home.

Folks with money overseas should pay the tax on it and bring the money back into the U.S..

Obviously they aren't doing that so maybe your feel good solution isn't the answer.

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

 

[Slade3200]

I'd like to maybe see a 10% tax on the money.


If there is $5 trillion overseas and none of it comes back, we got nothing.

35% of $0 is $0.

Let's say $1 trillion comes back....only 20% of the $5 trillion

10% of $1 trillion is $100 billion.

The math I was taught in elementary school, $100 billion >>>>>>>>>$0.

Where am I wrong?

What exactly do you mean by "come back"? Are you expecting people and businesses to close offshore bank accounts and transfer their funds to US banks at a 10-35% loss? Or are you talking about something different?

 

[my2¢]

I'm not sure there is a problem with the $5 trillion held overseas. I heard politicians say it is but then I'm really not smart enough to know. Heck they never put it in any perspective and say how much oversea companies hold in the U.S.A. Perhaps it dwarfs the $5 trillion, who knows? These politicians are always coming up with solutions to problems that never seem to get us anywhere.

 

[Siete]

nobodys closing up shop and moving back to the US. Jobs gone will stay gone.

The End.

 

[jasonnfree]

This offshore money being taxed would help pay for a military that makes it safe for corporations to do business worldwide in the first place.

 

[Cellblock2429]

It would be nice to have some of that money come back home.

/---- waive the taxes. What's so complicated about that?

 

[edward37]

It would be nice to have some of that money come back home.

So that the rest of us aren't sacked with it? Yep.

could help with the infrastructure needed

So basically, you're looking for a way to tell private entities how to run their businesses, and to demand that they turn their earnings over to the government to be used as the hive sees fit.

Good luck with that. Let us know how that works out for you.

no idiot ,,,they still have a choice Bring it back at very low rates or keep it overseas ,,Bringing it home the tax money can be very useful and stock buy backs and increased dividends are nice too ,,,just maybe not for dummies

 

[Faun]

It would be nice to have some of that money come back home.

/---- waive the taxes. What's so complicated about that?

You actually want others to be allowed to not pay tax while you do?

Regardless, allowing that may be a equal protection violation of the Constitution.

 

[Cellblock2429]

/---- They already paid taxes in the foreign countries. Bring it it back to the US would cost them an additional tax - that's double taxation. But then again you don't give a rat's ass who you hurt.

 

[ColonelAngus]

It would be nice to have some of that money come back home.

/---- waive the taxes. What's so complicated about that?

It's not. Why hasn't it been done by anyone?

 

[EvilCat Breath]

Lower taxes. Stop double taxation. Companies had no trouble bring their money here before obama changed the rules. Trump needs to overturn those rules.

 

[Faun]

/---- They already paid taxes in the foreign countries. Bring it it back to the US would cost them an additional tax - that's double taxation. But then again you don't give a rat's ass who you hurt.
View attachment 122006

No, it's not double tax. Bringing their money here means they are taxed here the rate based on their tax bracket minus any taxes already paid elsewhere.

 

[task0778]

Let 'em bring it back tax free, that'd jump start the economy. It's not like we're losing revenue cuz we're not getting taxes on all that money anyway. And BTW, most of the other advanced nations do not tax offshore business earnings so why should we?

 

[Missouri_Mike]

It would be nice to have some of that money come back home.

Folks with money overseas should pay the tax on it and bring the money back into the U.S..

Obviously they aren't doing that so maybe your feel good solution isn't the answer.

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

 

[ColonelAngus]

It's intere

It would be nice to have some of that money come back home.

Folks with money overseas should pay the tax on it and bring the money back into the U.S..

Obviously they aren't doing that so maybe your feel good solution isn't the answer.

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

My Man. I would love a flat 15% tax on all income. No deductions.

 

[Faun]

It would be nice to have some of that money come back home.

Folks with money overseas should pay the tax on it and bring the money back into the U.S..

Obviously they aren't doing that so maybe your feel good solution isn't the answer.

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

 

[task0778]

It would be nice to have some of that money come back home.

Folks with money overseas should pay the tax on it and bring the money back into the U.S..

Obviously they aren't doing that so maybe your feel good solution isn't the answer.

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

So instead they park their money overseas where it was earned and we not only don't get any taxes on it but we also don't get that money circulating back here to help the economy grow more than it currently is. I don't understand why liberals don't get this, corps aren't going to pay the high US tax rate so why not at least have more money here to invest?

 

[Faun]

Folks with money overseas should pay the tax on it and bring the money back into the U.S..

Obviously they aren't doing that so maybe your feel good solution isn't the answer.

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

So instead they park their money overseas where it was earned and we not only don't get any taxes on it but we also don't get that money circulating back here to help the economy grow more than it currently is. I don't understand why liberals don't get this, corps aren't going to pay the high US tax rate so why not at least have more money here to invest?

Then they don't get to bring their money back here. They don't get to avoid paying their taxes while the rest of us have to. What you're promoting is to encourage all U.S. tax payers to earn their living from foreign companies to lower their own tax burden.

 

[task0778]

Obviously they aren't doing that so maybe your feel good solution isn't the answer.

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

So instead they park their money overseas where it was earned and we not only don't get any taxes on it but we also don't get that money circulating back here to help the economy grow more than it currently is. I don't understand why liberals don't get this, corps aren't going to pay the high US tax rate so why not at least have more money here to invest?

Then they don't get to bring their money back here. They don't get to avoid paying their taxes while the rest of us have to. What you're promoting is to encourage all U.S. tax payers to earn their living from foreign companies to lower their own tax burden.

US taxpayers have to report and pay taxes on foreign earnings or investments, failure to do so is a crime. If you are a US citizen and live and work overseas you get a credit up to a certain amount, above which you gotta pay taxes on offshore earnings. What we've been talking about (I thought) was business and corporate taxes, which are not the same as individual income taxes.
You do realize the most other foreign countries do not tax businesses on offshore earnings?

 

[eflatminor]

It would be nice to have some of that money come back home.

Stop taxing income.