Tip:
Highlight text to annotate it
X
this this in today's this is the Bloomberg News was also the New York
Times largest US bit but the I'm quoting from Bloomberg here
the largest us-based companies at a 206
billion dollars the stash 206 billion more dollars
of sure this year as last year quoting Bloomberg parking earnings in low-tax
countries until congress gives a reason not to
and 1.95 trillion dollars
that they have stashed outside the United States which means that they're
not paying taxes on it which means is not going to fix
Bros and bridges in band schools in
and paper scholarships for kids to go to college and and build our collagen did
not have that
the worst offenders Apple
Microsoft IBM not in that order actually in the at the US base coming in the
order
the worst offenders Microsoft Apple and IBM here's why the ways that these
companies do this
you manufacture product overseas and say costs a buck to manufacture over there
and you're gonna sell in the US for say five hundred dollars is probably the
spread is not quite that
are just say costs a hundred dollars to make overseas you gonna sell
the US for five hundred dollars on the other hand if it was business software
by cost a buck to make it overseas to Gina print the CD
but whatever so
you take that one dollar product an insider selling it to your United States
division
for a dollar or for even two dollars you sell it to the US division
for four hundred ninety five dollars
so now the Chinese division or the overseas division
is making all the profit the US division
is showing very little profit where you can start the US division frankly for
505 dollars in the US division salsa for five hundred dollars a show Lost the
take a tax write off
and the foreign division is showing a huge profit which they get to keep it a
foreign bank
without pain in the US taxes and this is how these foreign corporations are gay
mean
our legal system our tax system and ultimately screwing
America and you in me they're not paying their taxes so G we have no money to pay
for long-term unemployment we have no money to pay for health care we have no
money to pay for kids to go to college we have no money to repair bridges and
bridges and roads
because republicans in congress will not allow us to close these tax loopholes
so that Apple and Microsoft and IBM and up
and the damn taxes I'm products if they're making overseas to sell here in
the United States
which is not only a by the way attacks province also a trade policy from
at the very least we should be collecting taxes for most products
arrive in the at the borders the United States tariffs