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Subject:  Re: Bruce Bartlett--The Truth Matters Date:  11/21/2017  2:11 PM
Author:  Ollos Number:  2184668 of 2381073

Everybody wants tax reform. The current Byzantine mess is a jobs program for CPA's.

I have a question; The current proposal as I understand it proposes a huge tax amnesty for corporations that hold their money offshore. The idea is that by repatriating that money the entire economy will be boosted and all boats shall rise. Now the question. if that is truly the impetus for the tax amnesty, then why doesn't the the new tax law demand reinvestment in domestic manufacturing and infrastructure? For instance; In order to receive the highly discounted tax rate, 60% of repatriated funds must be invested in USA based manufacturing and infrastructure. This would still provide a enormous windfall to those corporations and insure the funds are beneficial to the United States of America.

Without restrictions written into the law, corporations will most likely institute share buyback programs and dividend increases and pay larger bonus, as they did the the banking bailout. They have a fiduciary responsibility to increase the wealth of their stockholders, nothing else. And relying on them to distribute the goods to help our country is contrary to their mission. And a fools game.
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