Territoryial System News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Back then, everybody wanted to invest in ireland because it was lower. our rate was the highest on earth. so, you have to do both. you have to let them take the money home and give them a reason to invest. this bill does that. >> i mentioned apple and what they have done with, you know, we have done a lot of reporting on this, moving fortax reasons. this week, treasure secretary mnuchin said apple is going to bring some of their money back. they are bringing it home. that says a lot. here is secretary mnuchin. >> apple is kind of the poster child of this, so, the ceo of apple has said to me, w...

Companies to do that? right? it's one thing to say they are going to do this. if you are betting this entire tax cut, helping the middle class, don't you need enforcement mechanism? you better do this? >> that's what's going on in the bidding. if you look at the president's nongauchables, 20% corporate tax rate, but the other thing is having a territoryial system where we make it hard or harder to transfer it to other countries to avoid u.s. tax. the rules, the house has budget rules, the senate finance committee is working on rules. they are a work in progress on the hill. we expect the final...

Different element, paul, they don't talk about that. that's going to be one of the greatest things in this bill. expense in one year. gonna move from a world wide system to a territoryial system. tremendous change. in 2016, american multinational companies kept 71% of their foreign earned profits overseas. we're imposing a one time low tax to bring back all of that corporate money. we think it's probably in the name of $4 trillion will be brought back into our economy, into our country. that will produce tremendous growth and jobs and lots of other things. the council of economic advisers esti...