Prediction #3 -- 2018 foreign profit repatriation is a $591.8 BILLION taxpayer ripoff

When I started this series of 2018 predictions I said the recently passed U.S. tax law was going to have a profound impact on upcoming events. Having had a chance to look closer at the issue I am even more convinced that this seismic financial event is, as I wrote above, a $591.8 billion taxpayer ripoff. This is not to say there aren’t some possible public benefits from the repatriation, but it’s fairly clear that the public loses more than it will ever gain. In case you don’t follow these things, multinational U.S. companies have, since 2005, squirreled away about… [Continue Reading]