Trump's tax promise of trillions back to US fails to materialize
Dec 8, 2018 17:43:21 #
More failed promises for Trump's apologists to crow about!
https://www.msn.com/en-us/money/markets/trumps-tax-promise-of-trillions-back-to-us-fails-to-materialize/ar-BBQAR8O?ocid=sf
The amount of offshore cash U.S. corporations have returned home so far this year is just a fraction of what President Donald Trump had promised.
A Morgan Stanley report released Thursday estimates companies brought back from $50 billion to $100 billion in the third quarter -- which would bring the total repatriated back to the U.S. to as little as $514 billion, based on previously released figures for the first and second quarters from the Commerce Department.
The tax overhaul signed into law by Trump in December gave companies incentives to bring money back to the U.S. by offering a one-time low tax on repatriated profits.
Key Insights
Even though companies are less restricted in moving their offshore profits under the U.S. tax overhaul, corporations, in aggregate, are choosing to keep earnings in their foreign subsidiaries, according to a team of Morgan Stanley analysts led by Todd Castagno.
Companies repatriated $294.9 billion in the first quarter and $169.5 billion in the second quarter, according to Commerce Department data.“
https://www.msn.com/en-us/money/markets/trumps-tax-promise-of-trillions-back-to-us-fails-to-materialize/ar-BBQAR8O?ocid=sf
The amount of offshore cash U.S. corporations have returned home so far this year is just a fraction of what President Donald Trump had promised.
A Morgan Stanley report released Thursday estimates companies brought back from $50 billion to $100 billion in the third quarter -- which would bring the total repatriated back to the U.S. to as little as $514 billion, based on previously released figures for the first and second quarters from the Commerce Department.
The tax overhaul signed into law by Trump in December gave companies incentives to bring money back to the U.S. by offering a one-time low tax on repatriated profits.
Key Insights
Even though companies are less restricted in moving their offshore profits under the U.S. tax overhaul, corporations, in aggregate, are choosing to keep earnings in their foreign subsidiaries, according to a team of Morgan Stanley analysts led by Todd Castagno.
Companies repatriated $294.9 billion in the first quarter and $169.5 billion in the second quarter, according to Commerce Department data.“
Dec 8, 2018 19:23:24 #
padremike
Loc: Phenix City, Al
PeterS wrote:
More failed promises for Trump's apologists to cro... (show quote)
I suspect that by your generous expectations Trump is already 22 months past the deadline of fulfilling all promises.
Dec 8, 2018 20:21:37 #
PeterS wrote:
More failed promises for Trump's apologists to cro... (show quote)
At least it's coming in and not going OUT!! GIVE IT A CHANCE FOR CRYING OUT LOUD!!
Dec 8, 2018 21:19:56 #
PeterS wrote:
More failed promises for Trump's apologists to cro... (show quote)
>>>
One thing for sure is he has to shut it all down because we can’t keep spending and printing money in January
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