
2018 foreign profit repatriation is a $592Bn taxpayer ripoff - sjcsjc
https://www.cringely.com/2018/01/19/prediction-3-2018-foreign-profit-repatriation-591-8-billion-taxpayer-ripoff/
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coldtea
Still better than the previous situation where they would (and did for years)
have paid $0 for that money.

So, the current scheme might be a ripoff (of course it is, most laws are
passed to benefit corporatism) but the previous one was worse.

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NTDF9
The previous one and the current one aren't the only 2 choices.

A third one would be to pass a law saying US companies and US subsidiaries
need to repatriate 80% of foreign cash at 35% else the executives will be
jailed. Guess how much cash will come back and at what rate.

Ever seen such amazing tax breaks for the poor?

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lulmerchant
Most of the poor pay 0% tax. A company is mostly just a collection of assets,
and many of them can move their operations from one country to another if
they're motivated to do so, you can't just say "this company belongs to the US
federal government". If you want capital to permanently leave the US, then
start jailing executives anytime they structure a multinational company. If
you'd like them to structure their companies in a way that benefits the US,
then implement an internationally competitive tax structure.

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coldtea
> _you can 't just say "this company belongs to the US federal government"._

Actually you can, it's called nationalization, and has been used many times in
the past.

That said, you could just force their hand. Sure, they can "permanently leave
the US", but if they value it as a market, you can hurt them with that (e.g.
taxes on their stuff when they try to import it back).

