BUT, what international corporations will bother, since they already receive top dollar for stashing the cash in the first place, and giving up 8-15% is not that appealing. Once again, that offshore money is not going to help you; it’s not going to trickle down; it’s not going to be invested in new employment. If it was, it would have been invested already in operations in other countries by these multi-national corporations. What’s more, several countries are now moving quickly to lower their rates on profits and financial investment, etc. Sorry, but the Trump Tax Code reformulation may have little effect on profit havens or investments in new jobs or bringing industries back to this country.
When extracting your tax dollars from the U.S. Treasury by claiming a benefit or incentive or receiving a pass-through of assets to be taxed like wages -- are the people in the top 1% placed under the same degree of scrutiny? What if some of those 1% are frauds, felons or criminals preying on others to their own aggrandizement? What if some of those hedge fund managers benefiting from carried interest are cheating their clients? Isn’t that essentially what Donald Trump claims to be true of most undocumented aliens – that they are a criminal element? He never says that about the 1%. Yet, here’s the rub – as a group, the wealthiest 1% has harbored the richest thieves and crooks of all time. A few of note range from hardcore criminals like Al Capone to corrupt financiers like Bernie Madoff, and Leona Helmsley. What has Trump done to scrutinize this criminal element among the 1% to equal his scrutiny of immigrants?
“Trickle-down” has always been a farce because the wealthy owners of such money do not see it going anywhere except into their own coffers and those of their administrators and lawyers, their boards of directors and their investors. They like the arrangement of paying lower taxes on assets, property, business operations (labor especially) and income from other than wages in certain tax-friendly countries, and having it to spend or leave to family when the time comes.
International corporations are doing just fine, and they won’t invest in the U.S.A. just because the Republicans need them. There is a report circulating on TV about a room filled with high-powered administrators from international corporations. When asked if they expected to increase investment in U.S. industries and communities because of the Tax Code changes, just one person raised his hand to indicate a Yes. The rest were reluctant to commit themselves or their companies to such an outcome.
The sham is that the trickle-down theory has never been proven TO WORK. Tax cuts for the wealthy do not bring prosperity for all, just for the wealthiest. The low unemployment rate, and the stock market record-breaking sales are not measurements of anything except the fact that the rich are making more millions. They are the ones who play the stock market en masse and its results have relatively little to do with the middle class.