FELON BRIBEN SAYS HE IS GOING TO RESCIND TRUMP'S "TAX CUTS AND JOBS ACT"
Thanks to Donald Trump’s tax overhaul, Microsoft has brought back a massive $77 billion to the United States. In general, US companies have to pay 35% tax when they bring their offshore money back home. Donald Trump announced a tax cut through which corporations can enjoy a one-time 15.5 percent tax rate on cash and 8 percent on non-cash or illiquid assets, regardless of the country from where the money is brought back.
In 2018, US corporations as a whole brought back $665 billion. It looks like more than 10% of that number was contributed by Microsoft. With this transaction, Microsoft’s total cash balance outside the US will be less than $70 billion.
77% OF THE TRUMP TAX CUTS WENT TO INDIVIDUALS, 86% OF THAT 77% WENT TO THE MIDDLE CLASS
LARGEST PERCENT OF THE TAX CUT WENT TO AMERICANS MAKING $20K TO $30k PER YEAR
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