DonaldTrump’sBeliefIn$2.5TrillionStuffedInTaxHavenMattresses

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1. Has Donald Trump proposed another economic meltdown equal to 2008???

2. Does Donald Trump really think there is $2.5 TRillion (yes, that’s TRillion with 12 zeros) stuffed in mattresses in the tax-haven subsidiaries of the U.S.-based Multi-National Companies (MNC’s)???

3. Does Donald Trump even realize that he is proposing that the CHUMP American Companies that did NOT export American jobs would be forced to reduce their payrolls and capital expenditures by $2.5 TRillion in order to repay their loans from the tax-haven subsidiaries of the U.S.-based MNC’s that DID export American jobs???

4. In other words --

Is Donald Trump “Phishing” for the “Phools” he believes American voters to be???

OR

Is Donald Trump himself a “Phish” who has been “Phooled” by the slick lobbyists of the U.S.-based MNC’s that have exported American jobs???

5. Have we already seen this movie???

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Hint = Please see --

(A) the seventh posting under the first section of http://www.ReadingLiberally-SaltLake.org dated 11/14/2012 and entitled “$5 Trillion Reductions in American Payroll > Meltdowns” and

(B) the third posting under that same first section of http://www.ReadingLiberally-SaltLake.org dated 2/12/2014 and entitled “Renewing 1968 Executive Order 11387 To Halt American Job Exports.”

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6. Would it be better to elect Carly Fiorina who at least understands how U.S.-based MNC’s have exported American jobs and what the ramifications of that are???

7. And would it be better to elect Ben Carson who appears to have the common sense not to listen to lobbyists for U.S.-based MNC’s which have exported American jobs -- but instead might be able to perform as a brilliant surgeon who carefully deals with the problems created by the loans to the CHUMP American companies that did NOT export American jobs from the tax-haven subs of the U.S.-based MNC’s that did???
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Pat
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DonaldTrump’sBeliefIn$2.5TrillionStuffedInTaxHavenMattresses

Post by Pat »

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---------------------------- Original Message ----------------------------
Subject: Trump’s Tax-Plan Roll-Out & His Belief That There Is $2.5 Trillion Of Cash Stuffed Tax-Haven Mattresses
From: Pat
Date: Tue, September 29, 2015 2:47 pm
To: ReadingLiberally-SaltLake@johnkarls.com
--------------------------------------------------------------------------

Dear John,

You claim in the Suggested Answers to both the First and Second Short Quizzes that Donald Trump’s remarks about his Tax Plan indicates that he believes that U.S.-based Multi-National Companies (MNC’s) have stuffed into mattresses in their tax-haven subsidiaries the $2.5 TRillion (yes, that’s TRillion with 12 zeros) that they have earned from exporting American jobs.

When and where did he make those remarks?

In addition, yesterday Donald Trump rolled out his official tax plan.

Does Trump’s official tax plan continue to indicate such a belief?

Your friend,

Pat


---------------------------- Original Message ----------------------------
Subject: Re: Trump’s Tax-Plan Roll-Out & His Belief That There Is $2.5 Trillion Of Cash Stuffed Tax-Haven Mattresses
From: ReadingLiberally-SaltLake@johnkarls.com
Date: Wed, September 30, 2015 10:22 am
To: Pat
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Dear Pat,

Thank you very much for your e-mail.

The Suggested Answers to both the First and Second Short Quizzes reviewed in detail how the 2008-2012 financial meltdown was caused by The American Jobs Creation (sic) Act which permitted the U.S.-Based Multi-National Companies (MNC’s) that had exported American jobs and captured in their tax-haven subsidiaries the $4 - $5 TRillion (yes, that’s TRillion with 12 zeros) of profit from exporting American jobs -- to suddenly pay that $4 - $5 TRillion as dividends to the MNC’s at a special corporate income tax rate of 5.25%, rather than the regular 35% rate.

The problem, of course, was that the $4 - $5 TRillion HAD NOT BEEN STUFFED INTO MATTRESSES by the tax-haven subsidiaries!!!

As a practical matter, the U.S. tax law had long-since forced the tax-haven subsidiaries to loan the $4 - $5 TRillion to the CHUMP American companies that had NOT exported American jobs.

So The American Jobs Creation (sic) Act caused the tax-haven subsidiaries to immediately demand repayment of the $4 - $5 TRillion from the CHUMP American companies that had NOT exported American jobs.

Which, in turn, forced the CHUMP American companies that had NOT exported American jobs to REDUCE THEIR PAYROLLS and REDUCE THEIR CAPITAL EXPENDITURES by $4 - $5 Trillion so that they could repay the tax-haven subsidiaries.

Throughout the 2008-2012 economic meltdown, newspaper headlines across America screamed about how the CHUMP American companies that had NOT exported American jobs were in desperate need of loans AND COULD NOT OBTAIN THEM!!!

When the CHUMP American companies that had NOT exported American jobs (and the companies that manufactured capital assets for them) were forced to LAYOFF WORKERS EARNING $4 - $5 TRillion, there is no mystery why all of their homes were foreclosed virtually simultaneously!!!

Or why the bottom would have dropped out of the real estate market and why mortgage loans owned by banks and investors through mortgage pools would have tanked -- EVEN IF EVERY ONE OF THOSE MORTGAGES HAD BEEN A STANDARD 20%-DOWN, 30-YEAR, FIXED-RATE MORTGAGE!!!

Blaming the meltdown on sub-prime mortgages indeed!!!

Just a convenient way for the pols to lie about what they caused when they passed The American Jobs Creation (sic) Act!!!

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NB: Final passage of the American Jobs Creation (sic) Act in the U.S. Senate was by a vote of 69-17 (one voting “present” and 13 not voting) --

Among the 69 Yea’s were 25 Democrats including Majority Leader Tom Daschle, HILLARY CLINTON, and prospective 2017 Democratic Leader Chuck Schumer!!!

Among the 17 Nay’s were 14 Democrats including JOE BIDEN and Ted Kennedy!!!

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Now comes Donald Trump peddling the same old Snake Oil all over again!!!

That all we have to do is pass The American Jobs Creation (sic) Act all over again!!!

BASED ON THE LIE that the tax-haven subsidiaries of the MNC’s that have exported American jobs HAVE STUFFED INTO MATTRESSES trillions of dollars (yes, that’s trillions with 12 zeros), and all we have to do is lower the regular 35% corporate income tax rate on those profits from exporting American jobs AND THE TRILLIONS WILL SUDDENLY BE RELEASED FROM THE MATTRESSES for use in the American economy!!!

You ask where Donald Trump first peddled his Snake Oil???

On CBS’ Face The Nation on 9/13/2015.

The 9/13/2015 transcript for Face The Nation contains the following statement from Donald Trump --

“I want to bring the money back into this country. We have $2.5 trillion, John, out of this country, and the corporations, rightfully, don't bring it back because they have a massive tax to pay, and we have got to make it so they can bring it back. And I will be bringing it back, and we're going to have lot of money pouring into the United States if I get elected. And so we're going to make it possible for them by lowering their tax rate. And we're going to be lowering it for corporations because we want jobs. We want jobs coming back into this country, where you have all of this money, this vast wealth sitting outside of the country because, rightfully, if you were running the company, if I was running the company, you wouldn't bring it back in. We will bringing back trillions of dollars into this country.”

Donald Trump’s 9/28/2015 tax-plan roll-out is not quite so flamboyant as it covers the same point with the following --

“A one-time deemed repatriation of corporate cash held overseas at a significantly discounted 10% tax rate. Since we are making America’s corporate tax rate globally competitive, it is only fair that corporations help make that move fiscally responsible. U.S.-owned corporations have as much as $2.5 trillion IN CASH SITTING OVERSEARS. Some companies have been leaving cash overseas as a tax maneuver. Under this plan, they can bring their cash home and put it to work in America while benefitting from the newly-lowered corporate tax rate that is globally competitive and no longer requires parking cash overseas. Other companies have cash overseas for specific business units or activities. They can leave that cash overseas, but they will still have to pay the one-time repatriation fee.” [Emphasis added.]

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Plea To The American New Media

Isn’t there a single member of the American news media who will do her/his job and ask Donald Trump why he thinks the $2.5 TRillion (yes, that’s TRillion with 12 zeros) of profits from exporting American jobs is “IN CASH SITTING OVERSEARS”???

And challenge Donald Trump with the FACT that the $2.5 TRillion has long since been loaned to the CHUMP American companies that have NOT exported American jobs!!!

Accompanied by the question of why Donald Trump thinks that another $2.5 TRillion reduction in payrolls and capital expenditures by the CHUMP American companies that have NOT exported American jobs, would not cause another economic meltdown on the order of the 2008-2012 meltdown!!!

The hour is growing late and the Disciples of the MNC’s (such as Donald Trump) continue to peddle their Snake Oil.

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Thank you again for your inquiry.

Your friend,

John K.

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