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“The TCJA imposed a one-time 15.5 percent tax on cash and liquid assets accumulated abroad between December 1986 and December 2017, and an 8 percent tax on income reinvested abroad over the same period, payable over the next decade and costing MNCs an estimated $339 billion. “
$339b tax increase.... Will take the firms years to get this back... not much left to share with anybody...
"The law, signed by President Donald Trump last month, has made fourth-quarter earnings a messy ordeal for big banks. It forces them to take one-time hits on earnings held abroad and changes the treatment of deferred tax assets, both of which affect Citigroup in particular.
However, banks and other large U.S. corporations expect to benefit greatly from lower taxes and other provisions in the new law over the long term.
Citigroup, the fourth-largest U.S. lender, stands to gain less than peers because it already earns about half of its profits in lower-tax countries abroad. Even so, it expects its tax rate to fall to about 25 percent this year from 30 percent in 2017. That could save the bank billions of dollars over the next few years."
The BEE degree apparently does not include education in reading comprehension.
"The BEE degree apparently does not include education in reading comprehension."
Nor does it include any education in basic arithmetic.
++++++++++++++++++++++++++++++++++++
On a different note, neoliberal Democrats (e.g. Nancy Pelosi) say that if they gain control of Congress in November, they will institute a “pay-go” budgeting rule, meaning that Congress can only authorize new spending for one program if Congress cuts spending for some other government program. Since the military will never be cut, this means that neoliberal Democrats want to cut social programs.
Why? Because Democrat leaders think they can win big in November by being mirror images of Trump. Trump’s tax cuts have increased the federal deficit. Since anything Trump does is “evil,” Democrat leaders want to do the opposite, i.e. reduce the deficit by imposing austerity on workers. This means that Democrat leaders will cut social programs, thereby throwing people onto the street.
This is why Democrats will lose big in November. Naturally they will blame their loss on racism, sexism, homophobia, etc. – and Russian “meddling.”
This is the Democrat explanation for everything. If a Hollywood movie has an awful script, and if it aggressively pushes identity politics, then the only reason it bombs at the box office is racism, sexism, homophobia, etc. – and Russian “meddling.”
In the past, Americans watched sports in order to mentally escape from bullshit and bickering. Today, sports channels like ESPN are saturated with identity politics, causing ESPN viewership to plunge drastically. ESPN says its ratings are in the toilet because of racism, sexism, homophobia, etc. – and Russian “meddling.”
If you think I exaggerate, there are many articles which claim that fans hated Star Wars: The Last Jedi” because of racism, sexism, homophobia, etc. – and Russian “meddling.”
“benefit greatly from lower taxes and other provisions in the new law over the long term.“
Hey douche that’s what I said...
The point of toms link was nothing has been “shared” yet... maybe once they actually achieve a cut in taxes they will share some... but that’s not going to happen till next year...
"$339b tax increase.... Will take the firms years to get this back".
That BEE degree apparently came with some serious electrical shocks, which are associated with memory loss and disorders similar to mental retardation.
12 comments:
It wasnt a tax cut:
https://piie.com/blogs/realtime-economic-issues-watch/surprised-us-multinationals-didnt-repatriate-gusher-cash
“The TCJA imposed a one-time 15.5 percent tax on cash and liquid assets accumulated abroad between December 1986 and December 2017, and an 8 percent tax on income reinvested abroad over the same period, payable over the next decade and costing MNCs an estimated $339 billion. “
$339b tax increase.... Will take the firms years to get this back... not much left to share with anybody...
FRANKO™
Putting the "I" in Idiot.
The Tax Cuts and Jobs Act of 2017 cut the corporate tax rate from 35% to 21%.
It was an immediate 339b tax increase ... it will take many quarters until the rate cut saves these big firms any munnie...
It’s calked the Time Domain part of any analysis...
Go get your munnie back from whatever institution ripped you off for your art degree....
https://www.reuters.com/article/us-citigroup-results/citi-reports-18-3-billion-loss-on-tax-law-adjusted-profit-rises-4-percent-idUSKBN1F51JX
Or maybe hope the MMT elites are successful in getting student debt relief for all the tuition the academe ripped off all their art students for...
"The law, signed by President Donald Trump last month, has made fourth-quarter earnings a messy ordeal for big banks. It forces them to take one-time hits on earnings held abroad and changes the treatment of deferred tax assets, both of which affect Citigroup in particular.
However, banks and other large U.S. corporations expect to benefit greatly from lower taxes and other provisions in the new law over the long term.
Citigroup, the fourth-largest U.S. lender, stands to gain less than peers because it already earns about half of its profits in lower-tax countries abroad. Even so, it expects its tax rate to fall to about 25 percent this year from 30 percent in 2017. That could save the bank billions of dollars over the next few years."
The BEE degree apparently does not include education in reading comprehension.
"The BEE degree apparently does not include education in reading comprehension."
Nor does it include any education in basic arithmetic.
++++++++++++++++++++++++++++++++++++
On a different note, neoliberal Democrats (e.g. Nancy Pelosi) say that if they gain control of Congress in November, they will institute a “pay-go” budgeting rule, meaning that Congress can only authorize new spending for one program if Congress cuts spending for some other government program. Since the military will never be cut, this means that neoliberal Democrats want to cut social programs.
Why? Because Democrat leaders think they can win big in November by being mirror images of Trump. Trump’s tax cuts have increased the federal deficit. Since anything Trump does is “evil,” Democrat leaders want to do the opposite, i.e. reduce the deficit by imposing austerity on workers. This means that Democrat leaders will cut social programs, thereby throwing people onto the street.
This is why Democrats will lose big in November. Naturally they will blame their loss on racism, sexism, homophobia, etc. – and Russian “meddling.”
This is the Democrat explanation for everything. If a Hollywood movie has an awful script, and if it aggressively pushes identity politics, then the only reason it bombs at the box office is racism, sexism, homophobia, etc. – and Russian “meddling.”
In the past, Americans watched sports in order to mentally escape from bullshit and bickering. Today, sports channels like ESPN are saturated with identity politics, causing ESPN viewership to plunge drastically. ESPN says its ratings are in the toilet because of racism, sexism, homophobia, etc. – and Russian “meddling.”
If you think I exaggerate, there are many articles which claim that fans hated Star Wars: The Last Jedi” because of racism, sexism, homophobia, etc. – and Russian “meddling.”
Example:
https://www.theguardian.com/film/2018/oct/02/star-wars-the-last-jedi-rian-johnson-abuse-politically-motivated-russian-trolls
“benefit greatly from lower taxes and other provisions in the new law over the long term.“
Hey douche that’s what I said...
The point of toms link was nothing has been “shared” yet... maybe once they actually achieve a cut in taxes they will share some... but that’s not going to happen till next year...
Get your munnie back you guys...
No fuckwit, here's what you said:
"$339b tax increase.... Will take the firms years to get this back".
That BEE degree apparently came with some serious electrical shocks, which are associated with memory loss and disorders similar to mental retardation.
Go back to finger painting class...
Here’s the art degree moron who wrote this article:
“Gee we just raised taxes on firms by 339b and they’re not sharing any of the tax savings!”
Result of your "tax increase":
Tax cut triggers $437 billion explosion of stock buybacks
https://money.cnn.com/2018/07/10/investing/stock-buybacks-record-tax-cuts/index.html
Yo, shit-for-brains, here's a question for you: when has management ever shared any "tax savings" with workers?
FRANKO™
100% stupid, guaranteed..
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