Trump said tax cuts would bring $4 trillion back to America. Just 3.5 percent of that returned

Of course he said that! Dear old uncle Trump, he just says things ya know? Take it with a grain of salt. Different standards.

So far, just $143 billion has been repatriated, The Wall Street Journal reported Monday.

The Republican tax bill eliminated taxes for U.S. companies that bring home profits made abroad. Some companies have said the tax prevented them from repatriating those profits because they wanted to avoid that additional cost. "We expect to have in excess of $4 trillion brought back very shortly," Trump said last year. "Close to $5 trillion will be brought back into our country. This is money that would never, ever be seen again by the workers and the people of our country."

The Source

Should we even be surprised? That those Corporate and elite tax cuts to the tune of $100's of billions disappeared into offshore accounts and private pockets? Gosh? Somewhere, I'd bet there's a million mattresses filled with cash, hoarded cash. I mean that's essentially it ya know?

Further.

But an analysis by the Journal found that the new one-time tax on foreign profits and removal of future federal taxes hasn't led to a sudden boom in repatriations. Out of the 108 public companies that hold the vast majority of an estimated $2.7 trillion in foreign profit, just a handful have made substantial efforts to bring money back to the U.S.

What can I say.... it's only been like what a year? Maybe we outta give it until 2020 for that money to trickle back down into the economy heh?

a reply to: Southern Guardian

What did you expect? The tax cut is only for the 10% and above. Mostly the top .01%.

All the crumbs middle class folks ($60K) have picked up will be offset by higher prices (tarrifs) and inflation. OK, you get $24 dollars more a paycheck - so what?

$24 dollars is crap to the top 10%.

I do OK, so I am actually getting a break. But most US folks are getting screwed. You will pay more in the end so that the 1% can keep more.

originally posted by: Southern Guardian
it's only been like what a year?

Try 8 months max, 2.5 months even more likely. Almost every agency, state, and municipality operate under a July 1st start of fiscal year. Many of these companies work extensively under that calendar and have adopted the same. The money didn't offshore itself in 8 months' time, and Trump never said it would return in 8 months time... if it hasn't returned in another couple of years, then we'll have to vote for someone other than Trump in 2024, ya?

originally posted by: JasonBillung
a reply to: Southern Guardian

What did you expect? The tax cut is only for the 10% and above. Mostly the top .01%.

All the crumbs middle class folks ($60K) have picked up will be offset by higher prices (tarrifs) and inflation. OK, you get $24 dollars more a paycheck - so what?

$24 dollars is crap to the top 10%.

Funny how $24 a month is "crap" when it's a windfall from a GOP sponsored tax plan, but $24 a month is "crippling, unacceptable, infringing on rights, etc" when it's the cost of an abortive procedure or morning after pill being suggested to not be 100% picked up on the tax payer's dime, ya?

a reply to: Southern Guardian

mpeech!

a reply to: burdman30ott6

Almost every agency, state, and municipality operate under a July 1st start of fiscal year.

Incorrect. The Federal Government - the largest employers and biggest driver of the US economy - operates on a fiscal year starting on October 1st.

Maybe stick to facts that are facts rather than ones that support your deflection.

a reply to: Southern Guardian

so you're that guy who dedicated his life to bash Trump in every single thing, we get it and good luck with it



what a waste of time

Do you guys have real jobs?

Everyone with real jobs are better off

a reply to: burdman30ott6

I don't see the linkage in your rant. A tax cut for the rich = less abortions?

However, $24 dollars is pretty much crap to me. I would not tout that as a major achievement, when it does not make up for the 25% tariffs that are a hidden tax on everyone in the US.

I give my kid $24 to go to the movies. Pffff. Chump change for me, but I went to college, and am paid in 6 figures, so what do I know?

originally posted by: JasonBillung
a reply to: burdman30ott6

Almost every agency, state, and municipality operate under a July 1st start of fiscal year.

Incorrect. The Federal Government - the largest employers and biggest driver of the US economy - operates on a fiscal year starting on October 1st.

Maybe stick to facts that are facts rather than ones that support your deflection.

Even better to my point, then. An October 1st fiscal year means a tax plan which didn't pass until mid January wasn't even factored into those companies' 2018 plans in any way. Companies don't change their fiscal plans mid year, they implement the changes in their next full year under any new tax law, etc.

Thank you for giving me facts that 100% supported my point, you rock!!!

a reply to: JasonBillung

linkage as requested

originally posted by: JasonBillung
a reply to: Southern Guardian

What did you expect? The tax cut is only for the 10% and above. Mostly the top .01%.

All the crumbs middle class folks ($60K) have picked up will be offset by higher prices (tarrifs) and inflation. OK, you get $24 dollars more a paycheck - so what?

$24 dollars is crap to the top 10%.

I do OK, so I am actually getting a break. But most US folks are getting screwed. You will pay more in the end so that the 1% can keep more.

crumbs. I makes me laugh to see people so out of touch with reality. Ask your house boy what that means, he'll know.

a reply to: Southern Guardian


SG- FYI, if it ain't on Twitter™ it 'may' be classified as "Fake News" or (give it a name)...

And for next week's headline "Trump asked for 3 scoops of ice cream"

a reply to: burdman30ott6

If you ever ran a company (have run 2) you would know that most firms are required to start their fiscal year on Jan. 1st, after initial inception.

Also, you might want to reconsider how a company reacts to the market and other forces - if it isn't agile, it is dead. My own private C-Corp has been meeting with my tax attorney on a monthly basis for over 16 years to leverage the best strategic plans moving forward. Maybe you should go back to school and learn about business.

a reply to: burdman30ott6

but $24 a month is "crippling, unacceptable, infringing on rights, etc" when it's the cost of an abortive procedure or morning after pill

my only regret is that i have but 1 star to give..

Hmmm...I wonder what's in that link.

According to a 2016 GOBankingRates survey, 35 percent of all adults in the U.S. have only several hundred dollars in their savings accounts and 34 percent have zero. Only 15 percent have over $10,000 stashed away.Jun 19, 2017 Here's how many Americans have nothing at all in savings - CNBC.com www.cnbc.com...

He could score a big win if he would just eliminate taxing labor.

a reply to: Southern Guardian

Is His 4 YEARS as President Of The United States Up Yet ? No , so STFUA .......

originally posted by: JasonBillung
a reply to: burdman30ott6

If you ever ran a company (have run 2) you would know that most firms are required to start their fiscal year on Jan. 1st, after initial inception.

Also, you might want to reconsider how a company reacts to the market and other forces - if it isn't agile, it is dead. My own private C-Corp has been meeting with my tax attorney on a monthly basis for over 16 years to leverage the best strategic plans moving forward. Maybe you should go back to school and learn about business.

Dude what? I've had several jobs and not a single one has ever had the FY the same as the CY. Most of the ones I worked for have the FY start in April or May.

originally posted by: howtonhawky
Hmmm...I wonder what's in that link.

According to a 2016 GOBankingRates survey, 35 percent of all adults in the U.S. have only several hundred dollars in their savings accounts and 34 percent have zero. Only 15 percent have over $10,000 stashed away.Jun 19, 2017 Here's how many Americans have nothing at all in savings - CNBC.com www.cnbc.com...

He could score a big win if he would just eliminate taxing labor.

It is ashame that poor Americans continue to vote against their best interests, and choose to cheer on activities that only benefit the top 10%.

Maybe they hope that if they win the lottery they will be better off?

Keep buying those tickets folks, don't go to college, and hope that your children will follow in your footsteps of unenlightened wage slavery!