patrick.net

Total nothing burger. You've got 8 years to deal with it and tax liability should have been set in reserve already. Cry me a trail of tears for anyone stupid enough to not put aside what they owed in taxes.

This is far and away the least of the problems with the tax bill. Anyone that thinks the tax bill will bring jobs and investment long term is dreaming. Someone let me know when Apple will be pulling all of it's intellectual property back to the US to be taxed at 21% instead of 12.5% in Ireland. That would be what was developed in the US with all of the US taxpayer funded business advantages of being in the US then having Apple expense all the costs against US profits while moving the profits to Ireland. I didn't see that part in the bill. Territorial tax systems bleed jobs and investment overseas. Most countries don't have anywhere near the number of multinationals the US does so it is a real but much smaller problem other places.

I was hoping they would repeal FATCA-but as usual they left individuals alone.