Beware “Fix the Debt” crowd.

[KeithE]

[ET]

So, according to the chart of the "Ten Top Potential Winners", there is $346.5 billion dollars of offshore earnings sitting overseas at the moment. The "potential tax savings" for these companies is 35% of that, or $108.8 billion dollars, they bring that money back to the U.S.

Question 1: How much tax revenue is the United States Treasury currently receiving on the $346.5 billion that the 10 companies listed in the chart have sitting offshore?

Question 2: How does $346.5 billion of money currently generating $0.00 in tax revenue benefit the United States economy or provide for reducing the deficit if it remains overseas where it continues to provide $0.00 in tax revenue?

Question 3: What is better for the prospect of the American economy: $346.5 billion available for use here or $346.5 billion sitting overseas?

Question 4: What benefit is provided to the "poor and elderly" by $0.00 in tax revenue generated by $346.5 billion dollars sitting offshore?

[KeithE]

[ET]

Well, I'm sorry Keith, but the correct answers are:

Q1: $0
Q2: $0
Q3: available for use here
Q4: none

Using words like "profiteer", "unethical", "hid", "windfall", "corporate welfare", "corporate greed" doesn't give your argument any more validity. Shows again that progressives argue more in rhetoric than in reason. Also shows that progressives are not so much concerned with whether or not their policies actually result in increased tax revenue, but are obsessed to the point of delusion that the tax policies reflect their rhetoric, the actual results be damned.

One other note. Your favorite socialist countries: Sweden, Finland and Norway use territorial taxation. So do Canada, France, Germany, Switzerland, the U.K., Denmark, Japan, Australia....basically all but 7 of the 34 OECD countries.