300 billion repatriated to the US in Q1 - The money is coming back

Link

Harley leaving...oh no no more German cars...Trade Wars!!! That is what the media would want you to hear and you will NOT find this in many publications but it is pretty incredible. The American economy is roaring back and it is bring home the money. GDP growth is close to 4% and now this....repatriation has begun!!!

The BEA notes the main driver of the repatriation surge is that companies are no longer taxed on foreign earnings when returning the funds to the U.S. “We fixed that really, really stupid thing” said Hassett. By comparison just $38 billion was repatriated during the same period a year ago.

The monies went from 38 million to 380 million. I would call this a victory for American Business and citizens.

Despite President Trump's tit-for-tat trade barbs, America’s CEOs are not wasting anytime in taking advantage of his tax reform plan. Over $300 billion was repatriated to the U.S. in the first quarter, according to the Bureau of Economic Analysis (BEA) -- the most on record. “U.S. firms that used to build their factories overseas in order to avoid U.S. taxes, they stopped in their tracks because of the tax bill, they are bringing all the money home,” said Kevin Hassett, chair of the president's Council of Economic Advisers, during an interview on FOX Business’ Varney & Co. in June.

An estimated 45 billion in tax revenue and that is with the cuts.

Good news.
We've been bleeding billions for years.
About time some of it came back home.

a reply to: matafuchs

To be clear: the issue isn't your doctor sending home money to India to help pay the bills for mom. That is an exporting of funds that, generally speaking, is healthy for the US dollar.

This has everything to do with the morose policy of taxing earnings in foreign markets? If that is the case, that is a fantastic change in taxing policy (that, incidentally, will likely be a boon to Trump as well). There is no value with US dollars being used to fill off shore accounts.

Where do you honestly think that extra money is going? Into YOUR pocket or that offshore bank account those CEO's love to over-stuff with their exorbitant salaries? It seems that only big business is winning while the average worker's wage is remaining stagnant. That isn't Trump's fault, it's been happening since at least the 70's, but it doesn't seem like he is in much of a hurry to fix it either, just like every other president who came before him.

Beholden to big banks and businesses, just like any other president before. He's got a nice "outsider" vibe around him though, thanks to the media. Good cover for him.

a reply to: 3NL1GHT3N3D1

There is a "fix" for that: levy transactional penalties from offshore holdings.

It'd kill the dollar....but there you go.

a reply to: matafuchs

The monies went from 38 million to 380 million. I would call this a victory for American Business and citizens.

Cool , but what does it actually mean ?

The Commerce Department said a tax overhaul passed by Congress in December 2017, which offered a one-time repatriation tax on foreign earnings, led many companies to bring back cash parked abroad.
Companies paid out dividends and other withdrawals of $305.6 billion from foreign receipts, the department said, which far outstripped the amount of this cash which was reinvested domestically.
www.reuters.com...

Ah , shareholders.

a reply to: gortex

More money for the CEO's to hoard. Duh.

Democrats were screaming their heads off about the money being somewhere else.

Now they scream when it comes back.

Vote 2018 for "stable minds".

😎

a reply to: xuenchen

Then there are those who recognize that the rich are always looking to get richer. Less taxes means more money in THEIR pockets not ours.

a reply to: 3NL1GHT3N3D1

Exactly. Obama suckered us in with his shovel ready jobs. I ain't holding my breath on this. I do hope something gives for the positive though. Apple had committed $300mil and I read somewhere that a British dude is restarting a steel mill in S.C. to avoid tariffs.

originally posted by: 3NL1GHT3N3D1
a reply to: xuenchen

Then there are those who recognize that the rich are always looking to get richer. Less taxes means more money in THEIR pockets not ours.

Maybe. yes. but according to the BEA (i like to dig before i comment)
we're in the green all across the board. some marginally, others by a lot. (Q1' 18 vs Q4'17 ).

surely this counts for something.

growth

originally posted by: 3NL1GHT3N3D1
Where do you honestly think that extra money is going? Into YOUR pocket or that offshore bank account those CEO's love to over-stuff with their exorbitant salaries? It seems that only big business is winning while the average worker's wage is remaining stagnant. That isn't Trump's fault, it's been happening since at least the 70's, but it doesn't seem like he is in much of a hurry to fix it either, just like every other president who came before him.

Beholden to big banks and businesses, just like any other president before. He's got a nice "outsider" vibe around him though, thanks to the media. Good cover for him.

did you read the article?

Profits already taxed in other countries were taxed a second time when they returned to the united states.
Of course dollars are sitting in offshore bank accounts rather than being taxed a second time.

Now do you see what got fixed?

a reply to: 3NL1GHT3N3D1

who are the "rich"?

Who do you think is not trying to get richer? America's favorite socialist, Bernie Sanders, is even trying to get richer.

Shareholders = people who are retired and the depend on the stock market to support their lifestyle . Shareholders: people who are counting on the stock market for their retirement

Will my shares in Microsoft get me as much money as Bill Gates' shares, No. Should it, No. Will it get me more money then the person who decided to spend their disposable income on whatever they wanted, besides stocks, absolutely.

Our company brought back $3 billion. Amazon is building a fulfillment center up the road 1000 jobs. All pay levels. Place in town hiring all levels and skills looking for 100 people

Times are picking up

a reply to: matafuchs

If these were foreign profits (earnings from other countries), how can they be "repatriated" to the US if they were never here in the first place? How can it be "coming back?"

a reply to: gortex

You guys realize you can become shareholders, right? It's not some crazy thing that only a few people have access to... Every responsible american over 25 is a "shareholder."

a reply to: Phage

If it's held in USD, it's repatriation, regardless of where it was earned. It's a return of USD to the US, thus, repatriation.

originally posted by: 3NL1GHT3N3D1
a reply to: xuenchen

Then there are those who recognize that the rich are always looking to get richer. Less taxes means more money in THEIR pockets not ours.

How does taxation of the rich actually put money in my pocket? So many people actually think this will help their economic hardships...

a reply to: odzeandennz

Just perusing those numbers the socialist in NY seems to have done a number on them. 0.0% growth in GDP. Wow. The only places with a worse number are ND and SD and theirs is tied to the bust of the $80-100 barrel oil.