Trump Stumped: Tax Cut Based on His D-Student Misunderstanding of Economics
The Donald’s tax plan includes opening new loophole called, “territoriality.” To translate from the pigs’-Latin, this means that the US can no longer collect taxes on profits of US corporations on their foreign operations.
In other words, THIS IS A MASSIVE TAX BREAK FOR MOVING A FACTORY OVERSEAS. Shifting your plastics factory from Midland, Michigan to Monterey, Mexico means you no longer pay taxes on it. Hey, wasn’t this the guy who said he’d TAX companies that leave the USA?
Want to read more? Please click…