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View Diary: Eliminate corporate tax, seriously (422 comments)

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  •  But this presumes that the funds to make (2+ / 0-)
    Recommended by:
    Odysseus, Square Knot

    US investments would have to be transferred from off-shore.  On what do you base this?  In FY2013, Apple had $22.8 billion in US operating income (pre-tax), with $14 billion in cash (globally) on its books.  

    •  The fact that 2.1 trillion dollers are sitting (0+ / 0-)

      overseas.because of this very specific issue...... Not that all of it would need to come back. But even a fraction coming back would have a massive effect on world markets.

      http://www.reuters.com/...

      TBH 2.1 trillion suddenly being repatriated to USD would be a world shaking event.

      It could either collapse the world economy, or give the US economy a HUGE shot of adrenalin.

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