What if I told you I knew a way for the government to provide a $1 trillion stimulus to our economy and it would not cost taxpayers a penny (in fact, it would create a huge windfall of new tax revenue) – would you be interested in learning more?
It sounds too good to be true, right? Well, actually no, it is available to us right now, but it has become very political (hard to imagine anything in Washington DC becoming politicized).
U.S. companies have over $1 trillion of offshore earnings that have never been taxed in this country. Nearly all industrialized nations apply a "territorial tax system" in which companies with operations or affiliates abroad pay only the taxes imposed on profits by the host country. So in Sweden, England, and China multinational companies can, in most cases, ship earnings home with little or no extra tax imposed.