Poof, $650bn gift to large companies is ‘modest’ tax reform

From NBC News here:

The infrastructure package, likely paid for with some modest tax reform, is at the top of Clinton’s priority list because it is widely seen in both parties as one of the few issues on which Republicans might be willing to work with a President Clinton.

This ‘modest’ tax reform is bringing profits stashed overseas by large American companies.  Right now the approximate total of untaxed profits is $2.5 trillion.

If paid out at the current tax rate that would be $875 billion.

And at the rate that large American companies want it (and what this article is called ‘modest’ tax reform) that would be $125 bn.

That’s a $650bn gift to American companies and I don’t consider that to be a modest number at all.


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