Sunday, December 4, 2016

Three Tax Holiday Investments

Three Tax Holiday Investments:
"tech companies are holding a ton of cash offshore to avoid high taxes here at home. Back in 2005, the amount dropped thanks to a repatriation holiday, but since then, it's grown at a rate of about 19% per year.

According to Capital Economics' calculations, U.S. companies are currently holding over $2.5 trillion in overseas accounts. That's a 20% increase from two years ago and equal to about 14% of the U.S. GDP. Or in other words, a ton of dough."

MJR Comment:
Much of the $2.5 trillion dollars are generated or created through "bankrupt" Puerto Rico, USA due to special IRS tax free federal and state tax exemption codes created to exempt US companies who do business in Puerto Rico from paying federal taxes. However, it does not apply to the small Puerto Rican Businesses or individuals, who pay the highest taxes in the US. 
These tax codes are incompatible with statehood for PR. As a result, the corporation lobbyists, the extremely wealthy colonial Puerto Rican family owned businesses and "cooperating" local politicians, obstruct  in Washington the people's aspirations to attain equal citizen rights for the natural born US citizens in Puerto Rico, USA as a state of the Union.