US companies has generated and kept more than $1 trillion cash oversea.
American people ask the President to propose a tax plan to allow companies to bring their oversea capitals home and avoid paying 35% corporate tax and penalties only if:
- During a window of 2 - 3 years, all oversea capitals is subject to special tax treatments of:
o 0% tax rate if used to hire new employees, train employees, build in NEW factories, offices, equipments or other qualified capital expenditures.
o 5% tax rate for expanding the existing factories, offices, or upgrading existing equipments.
o 10% tax rate if it is to distribute as dividends, buy back stocks, pay down corporate debts.
- Pass tax laws subject all profits, regardles of where or how they produce and keep to US corporate tax.