9/16/2016

A Tax Dichotomy - Hillary Versus Donald

To see a simple difference between Hillary's and Trump's viewpoints about corporate tax cuts, consider this:

Mrs. Clinton calls this tax-cutting for billionaires and corporate-jet owners, which shows how unhappy her Presidency could be. Such Trumpian pragmatism—10% of $2 trillion is better than 35% of $0.

Hillary can't wait to get her hands on the approximately $650 billion in confiscatory tax revenues should US corporations repatriate over $2 trillion in overseas profits. That's one reason that $2 trillion is still sitting in banks overseas.

That money has already been taxed in the nations where that money was earned. But the US wants its cut too even though we are the only nation that taxes overseas earnings. The US also has the highest corporate tax rates in the world – 35% - which is why so many corporations have 'reverted', meaning they've moved their corporate headquarters to more tax friendly countries by acquiring a company in that country and shielding their non-US earnings from the predation of the Infernal Revenue Service and the bottomless greed of tax-and-spend politicians and bureaucrats.

And so it goes.