It is a fee for overseas earnings brought back to the U.S. that will pay for he spending. It seems like a no-brainer to me. Let those hidden foreign earnings do some good here in America.
Read more: Obama proposal would cut corporate taxes, boost spending - The Hill - covering Congress, Politics, Political Campaigns and Capitol Hill | TheHill.comTo pay for the infrastructure investments and other spending, Obama proposed that companies be able to repatriate foreign earnings back to the U.S., subject to a one-time “transition fee.”
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Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom.
Alexis de Tocqueville
Spoken by someone who obviously has no concept of the line items in the budget and what your taxes fund. We don't need a 3.77 trillion dollar Federal Govt. with most of that money going to social programs. SS and Medicare along with the Payroll taxes that fund them should go off budget immediately. Excise taxes which come from gasoline purchases also need to come off budget and used for their direct purpose.
Then shift all unemployment benefits, healthcare costs, and other social engineering programs back to the states where they belong. There would be plenty of money for the programs needed if the money was allocated properly and spent as required by the taxes established.
The problem with Democrats is they don't understand economic activity and growth which is your basic problem. Democrats don't spend less. Republicans controlled the Congress from 1994-2000 and you and others claimed Clinton had a balanced budget. Who actually cut those Clinton budgets and spending? Check out the deficits in years 2004-2006 vs. 2007-2009 and see who spent less.
Dems and other liberals are never held accountable for spending because it is spending in the name of compassion and that just makes people like you feel good.
And here's the supply-side foolishness in it: lower corporate tax rate; lower still for manufacturing sector enterprises. Pure supply-side idiocy.
Let's say you're Columbia Sportswear and buy in China, or the like. Will you raise your cost-to-produce, lowering your profit, merely to save some points on your taxes on profit? NO!! It would be idiotic.
We are not competitive in unskilled manufacture. But we have companies who make products that can be manufactured here and be competitive, and will, since close-in manufacture has myriad efficiencies, not to mention stricter oversight and QC. Everyone who can make a buck manufacturing here is already here or will come here. Those who cannot will manufacture elsewhere, since the name of the game is more and not less profit. So these cuts are merely gifts in the form of more after-tax profit, at a time that profits are already at a record and companies are rife with retained earnings and cash-on-hand, which they have not and will not pay to employees they do not have to, nor hire employees they do not need, even if they can afford them. And they will not invest in an opportunity that is not there!!! It's just more money, which will be hoarded by a few, and not invested back into the economy by being spent.