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The money isn't "stuck" abroad, it is hidden there. Don't pretend that it is the big bad tax man that is stopping these companies from being altruistic, this i
by qyv 9y ago
The money isn't "stuck" abroad, it is hidden there. Don't pretend that it is the big bad tax man that is stopping these companies from being altruistic, this is 100% about maximizing profit.
The idea of reinvesting money domestically is good in theory, but how do you actually ensure that the money stays here? Is Apple Et Al. going to build, staff and operate these factories with local labour? Or, are they going to sub-contract out to the lowest domestic bidder who will just end up outsourcing the work overseas where the factories and labour is already established and cheaper?
- malandrew 9y agoTake the spirit of my comment and exercise the principle of charity: https://en.wikipedia.org/wiki/Principle_of_charity https://en.wikipedia.org/wiki/Principle_of_charity I already suggested that we attach restrictions on what constitutes a valid reinvestment in the US. If you considered the spirit of my comment, it should be obvious that I would support restrictions that would prohibit the loophole you suggested. Maybe we can even make it so the money can only be brought home piecemeal, one investment at a time, with each investment going through a process that demonstrates that the overwhelming majority of each repatriated tax dollar is going to benefit the US economy.