Trump and the GOP have overhauled the tax code of the US and in it they've introduce a new, one-time repatriation tax. As multinational companies have reported earnings this last week, they've shown a much lower net earnings than has been seen in years. Many companies (like Apple) are blaming the new repatriation tax (though, they have up to 8 years with no interest to pay the full amount). While 12% is stupidly-low for $multi-billion companies to have to pay, isn't it better than the 0% they were paying before? In other words, while we'd all have hoped for more, wouldn't you say that, overall, getting the extra $3.1 trillion this is supposed to generate in taxes is a good thing?
Is The "repatriation tax" Portion of The New Tax Code A Good Thing?
Do you like this suggestion?