Tax Plan Set To Tax Offshore Accounts at Higher Rate

#13973
Assistanc3
Participant

US Tax law is complicated, most people don’t understand it and those that do wonder why the US government taxes corporations twice. For example, while Apple is sitting on $246 billion offshore, they did pay the taxes on it in the country they made that money in. If Apple were to repatriate any money, Uncle Sam wants a cut. Now one could look at that double taxation as a cost to corporations from benefiting from the ‘peace” they get throughout the world from the US military’s protections. One could look at it as a cost of raising world standards through globalization while those corporations are not investing at home. One could also look at as a tax on corporations expanding its climate change footprint.