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by comrade1234
2 days ago
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Multinationals are disincentivized to send revenue back to the USA because they are taxed twice on it - they're taxed in the country it was earned in and they're taxed again in the USA as income because they are essentially completely different companies. Trump had a tax holiday in his first term where companies were allowed to send revenue back to the USA without being taxed. If I remember correctly apple sentt back billions and used it for stock buybacks. So money earned outside the USA rarely makes it back. |
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