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you're absolutely right in that these faces a group they cling to their
bipartisan in the way that they do that is because they say we need more revenue
and then they talk about well you know it's two thirds spending-cuts and
one-third revenue of course it of loves erosion to this point but three-quarters
spending cuts
and the revenue they talk about is through this comprehensive tax reform
system
and so i want to just just ride
give them there to you if you will try to complain about exactly what argument
they're really making umbro in that they're saying currently
the actual corporate blvd official corporate actually in eight states the
highest rate
is thirty five percent
effectively we know ranges from seoul only ten to fifteen barely ever higher
than twenty got back and if you got back i thought that
but but there are given as a socially this
if you let us have amnesty on the money that we've been hiding right now
overseas
by
by bio essentially allowing us
to bring it home
through his territorial tax system and say that
it was learned overseas
then it can go untaxed
it was an overseas relegated war or that'll be tax at the rates that they
have in those countries and in many cases let was like for me to the tax
havens
um...
but then will bring the money home
to or to our banks here it's a two-way read all the money here
and i will prompt us to reinvest in jobs and business here
and ultimately that will somehow generate more revenue
they also say that
we allowed to bring it home and then we'll over the american u_s_ corporate
tax rate
then
though also encourage people
corporations to stop
taking this reporting overseas
and they'll bring it home from overseas where it was what was going on tax
and then will
you will have a tax the u_s_ because the tax return lower
but here is the point out that this is all voluntary and there's just no record
that they've that because
these things seem like they would torch corporations do that that they actually
will exactly and our pasts experience is it just opposite so back in two thousand
for it they made this argument then to the set
uh... are ira money is being held hostage overseas because the tax rates
in the u_s_ are so high that we can't bring it back here and only the tax
rates are lower than we could bring this money back and use it to create great
american jobs and so they granted a temporary tax holiday at deeply
discounted tax rate for money that was brought back from these overseas uh...
pots and what happens add that the companies that took advantage of that
tax break
did not create jobs in fact many of them followed up with mass layoffs and so
this is just an an empty argument we've tried it before they can use the money
to create jobs here is just one more way for them to employees paying taxes