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Repatriation

I can think of 1.2 trillion ways that President Obama and Congress can strengthen America’s economy and create jobs – without costing taxpayers a dime.
It’s called repatriation – a fancy “Washington, D.C.” word for allowing American companies to bring back the earnings they make from being successful when doing business in overseas markets.
You see – 95 percent of the world’s markets for Silicon Valley goods and services are outside of the U.S., yet when we successfully compete in those markets, we cannot bring the earnings back home without paying a 39.4 percent tax penalty on those profits. It doesn’t take a math genius to know that when a company can borrow money for as low as two percent, bringing money back with a 39.4 percent penalty makes absolutely no sense.
So Congress, allow companies to bring back their earnings at a reduced rate. Keep the reduced rate for the federal treasury. Allow employers to use the balance to stimulate the economy, strengthen their companies and create jobs.
It’s so simple – even Washington should get it right.

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