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Since @billmaher + @TheEconomist were clearly out of their depth wrt tax + trade policies when interviewing the wily #ChristianNationalist #Bannon, they need our help. So here’s #10Qs4Bannon.
#10Qs4Bannon 1. Under the Trump/Goldman tax act, when do US companies actually have to pay the so-called 8-15% “repatriation” tax? Do they actually have invest in the US economy, or otherwise “repatriate” it, or do they just have to pay the tax? How much has actually come back?
#10Qs4Bannon Answer to 1. MNCs get 8 yrs to pay the 15% tax, int free, according to a fixed sched : 5% yrs 1-4, etc. They’re not req ‘d to reinvest or repatriate anything. And if they leave their offshore, they can invest tax free, since the corp tax is now “nearly” territorial
