Chapter
Trump's Smart Move with Overseas Company Money
33:38 - 36:32 (02:53)
Trump allowed companies with huge sums of money overseas to avoid high taxes by not taxing the money when it was brought back into America. This incentivized companies to return their profits to the US.
Clips
The use of loopholes within the rules is not considered a scam, but it may go against the spirit of the law.
33:38 - 34:56 (01:17)
Loopholes
Summary
The use of loopholes within the rules is not considered a scam, but it may go against the spirit of the law. Tim Cook's statement on complying with both the letter and spirit of the law is not entirely true.
ChapterTrump's Smart Move with Overseas Company Money
EpisodeKim Dotcom's Millions From Megaupload, Million $ Panic Attack App, and Million $ Waterproof Shoes
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Trump's move to tax companies' foreign holdings at 15% is seen as a smart move because of the hundreds of billions of dollars these companies are keeping overseas.
34:56 - 36:32 (01:36)
Trump, Taxes
Summary
Trump's move to tax companies' foreign holdings at 15% is seen as a smart move because of the hundreds of billions of dollars these companies are keeping overseas. The low taxes in these countries make it difficult for companies to bring that money back into the US without facing taxes.