Foreign Earnings by U.S. Corporations are not Foreign

Posted in: Uncategorized- Mar 25, 2013 No Comments

The New York Times has article online today How to Unlock That Stashed Foreign Cash By Jeff Sommer, March 23, 2013 that explains all kinds of tax and finance machinations that policy makers and company directors should consider to ‘repatriate’ profits earned in foreign countries and supposedly stashed overseas.  What the article fails to point out is most of this cash is not stashed in foreign banks but in USA banks in New York.

Presumably the reason behind no tax on foreign earnngs is somehow tied to helping foreign economies by leaving the cash there to be used by foreign partners for business expenditures or foreign investment.  What a novel idea!

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