Republicans are right: When your corporate income tax rates are the highest in the developed world, they are too high. That is the reason that American corporations have maintained $2 TRILLION overseas, where it doesn't have to pay 25-40% (depending) income taxes on it.
Dr. Ben Carson is right: He has proposed a six-month window to repatriate the entire amount tax-free, as long as 10% is spent on some social good to be determined, such as Red Cross or Headstart or whatever. Would such a huge cash injection help the United States? Absolutely! Would it help us a great deal? Probably not.
Dr. Gabriel Zucman is also right: He is a professor at the University of California and just wrote a book entitled The Hidden Wealth of Nations, in which he deduces there is now about $7.6 TRILLION (about 8% of the world's total wealth) hidden in such tax/secrecy havens as Panama, Channel Islands, etc. (Even though it has been illegal since 2009, the amount of foreign money in Switzerland has increased 18% since then.) Of course, not all of that hidden money is from Americans, but wouldn't the world benefit if 8% of its wealth was returned to it?
Does that mean Dr. Carson should be elected President of the United Countries of Earth?
Dr. Ben Carson is right: He has proposed a six-month window to repatriate the entire amount tax-free, as long as 10% is spent on some social good to be determined, such as Red Cross or Headstart or whatever. Would such a huge cash injection help the United States? Absolutely! Would it help us a great deal? Probably not.
Dr. Gabriel Zucman is also right: He is a professor at the University of California and just wrote a book entitled The Hidden Wealth of Nations, in which he deduces there is now about $7.6 TRILLION (about 8% of the world's total wealth) hidden in such tax/secrecy havens as Panama, Channel Islands, etc. (Even though it has been illegal since 2009, the amount of foreign money in Switzerland has increased 18% since then.) Of course, not all of that hidden money is from Americans, but wouldn't the world benefit if 8% of its wealth was returned to it?
Does that mean Dr. Carson should be elected President of the United Countries of Earth?
