Republican Tax Scam Explained | Soshal Network, Social Circle Connection

Republican Tax Scam Explained

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Firms claim that if they simply get a huge tax vacation, they'll create tons of works. They are lying. Cenk Uygur, host of The Young Turks, simplifies. Inform us exactly what you believe in the comment section below. Sign up with TYT:

" It is among the obscure components of the Republican tax structure: some kind of one-time holiday to obtain firms to return untaxed abroad profitsto the United States.

Presently, the US looks for to tax the entire worldwide earnings of US companies, yet it tax obligations foreign revenues only when they're brought back below. So firms have the tendency to leave foreign earnings abroad, which permits them to delay paying tax obligations, frequently forever.

In 2004, Republicans applied a "repatriation holiday" to get business to bring those earnings back. Instead of paying their complete tax expense– that is, the 35% US business tax minus a credit history for whatever taxes they 'd already paid to foreign nations on their international earnings– they were permitted to pay a rate of just concerning 5%." *.

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20 comments

  1. Posted by Anthony Thomas, at Reply

    Thank you TYT

  2. Posted by Stooji McStooj, at Reply

    Bush….now Trump…..the American people really like dim bulbs for leaders.

  3. Posted by Green Reaper, at Reply

    Sadly people shouldn’t be surprised by this.

  4. Posted by Coy Hampton, at Reply

    Republicanism is the biggest threat to America.

  5. Posted by TheLayman, at Reply

    They brought all that money back and then the banks needed to do something with it. Hence the sub-prime mortgage. Billions where brought back and it could not just sit there doing nothing. If this happens again yes America will have billions put back into the system but another bubble will be created. I would suggest a way to bring the money back and rebuild the nation.

  6. Posted by Robert Acosta, at Reply

    Ronald Reagan politics and political act since the 1980’s and yes before that

  7. Posted by EinChris75, at Reply

    John Snow? John Snow? I think I know that guy. He has a big dog as a pet, doesn’t he?

  8. Posted by Joaquin Gomez, at Reply

    Why do people even still pay taxes?

  9. Posted by Michael P, at Reply

    The TARGET should be GLOBAL CORPORATIONS. They are SUCKING our wealth away for profits on the stock market and corporate fraud/theft/huge salaries, etc.
    This should be the target of our attempts to fix America. Eliminate corporate ability to be involved, financially, in our government.

  10. Posted by Hope Emch, at Reply

    There hasn’t been an honest Republican President since Eisenhower and I don’t know enough about him to be absolutely sure of that. Working in his favor though was the fact that he was apolitical for most of his life and did build us our Interstate highway system as President.

  11. Posted by winghyro, at Reply

    Your numbers change all the time.. at 1st the effective tax rate was 14% then you said 18% now your at 22% .. which one is it? !! .. you keep this up, by the end of the year you will be convinced the corporate tax rate is indeed 35%

  12. Posted by rob ert, at Reply

    stock market will go through the roof!

  13. Posted by ThreePalmsII, at Reply

    Republicans believe all things are free. Cut taxes then. Tax rate better b4 Reagan.

  14. Posted by Conor Sheehan, at Reply

    Should you really be quoting John snow? He knows nothing….

  15. Posted by BenJamin Croft, at Reply

    What empirical evidence do you have to prove, beyond any reasonable doubt, that just because of my physical location, the constitution and IRS tax laws apply, and that they have any jurisdiction over me or anyone, therefore making us “tax payers” with “taxable income” in the first place?

  16. Posted by Karla Faulkner, at Reply

    they should throw them in prison

  17. Posted by Zorro455, at Reply

    Dont democrats do this Too?

  18. Posted by gartner101, at Reply

    Global corporations have access to unlimited funds. If a project will get a return they will do it.

  19. Posted by L vamp, at Reply

    I’m still surprise that the US is still alive despite all these issue, this country seriously need a help.

  20. Posted by jones1351, at Reply

    Mark Blythe wrote there’s something like 33 trillion (with a T) dollars ‘hiding’ in off shore tax shelters. Imagine if we, instead of invading middle-eastern/African nations, or DPRK, we sent our troops after that money. We know where it is. Bring it back and tax it at, even the abysmal 35%, with penalties. We’d pay off the deficit, as well as for universal healthcare/education and much needed 21st century infrastructure overhaul without breaking a sweat.