Let Foreign Profits Come Home by Herman Cain

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Let Foreign Profits Come Home by Herman Cain





Let foreign profits come home

April 10th, 2011

Herman Cain
For decades, Democrats have insisted on taxing profits generated by U.S. companies in foreign countries, because they thought it would force businesses to keep the investments in the U.S.

Wrong!

The unintended consequences were just the opposite effect. A business-friendly environment always works better than force.

President George W. Bush was able to get the repatriated tax rate lowered to 5.25 percent in 2003, and nearly $350 billion came back into our economy. Today, it is conservatively estimated that nearly $1 trillion might come back if we take the tax on repatriated profits to zero.

Yes, zero!
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