The wonky thing being that they would have to pay tax on that money if they take it to the US, but they've already made all that effort not to pay tax on the income in the country of origin! (sad face)
It's part of the absurdity that is the US tax code.
I think it was Bill Clinton (among countless others) that elaborated how the obvious thing to do, is to compress the corporate tax rate down to close to 20%, and eliminate most of the tax gaming (simplification).
We could continue to tax corporations at a reasonably competitive rate (vs the rest of the world), simplify the tax code drastically, and keep tax revenue approximately the same. That we can't seem to do something so obvious, which has lots of support from both parties, draws a pretty big sad face from me.
I think it was Bill Clinton (among countless others) that elaborated how the obvious thing to do, is to compress the corporate tax rate down to close to 20%, and eliminate most of the tax gaming (simplification).
We could continue to tax corporations at a reasonably competitive rate (vs the rest of the world), simplify the tax code drastically, and keep tax revenue approximately the same. That we can't seem to do something so obvious, which has lots of support from both parties, draws a pretty big sad face from me.