When Donald Trump began his presidential run in 2015 and 2016, he told all of America that he would be a president of many firsts. He has not disappointed us yet.On his first day in office, he signed an executive order that began the process of fully shutting down Obamacare. He is first of all presidents to eventually deliver a full-length wall on our southern border.
He is the first president to push the Dow over 25,000, thanks to his booming economy. And he is also first in placing more women in high executive administration positions, such as Nikki Haley.
Last but not least, he is the first president in history to sign off on the largest tax cut bill we’ve ever seen. And what’s more: he’s making further history by adding $2 TRILLION back into the American economy, all for hard-working American taxpayers.
But how in the world was he able to pull trillions of dollars back into the United States?The Daily Caller reports:
The Republican tax bill President Donald Trump signed into law in the final weeks of 2017 is expected to bring nearly $2 trillion in capital held overseas back to the United States, according to a United Nations Conference on Trade and Developments report released Monday.
The U.N. expects the Republican tax law could lead to the repatriation of roughly $2 trillion in funds that American multinationals are holding overseas. U.N. analysts attribute their predictions to the dramatic cut to the U.S. corporate tax rate that took effect on Jan. 1, 2018.
For the better part of the past four decades, companies chose to defer their tax payments overseas to areas that have more favorable tax rates. Ireland has historically been a tax haven for many U.S. firms, including Apple, although the European Commission is increasingly cracking down.
Two trillion dollars is a significant amount of money to see President Trump bring across the Atlantic Ocean.But being a president of firsts, he knew that this significant slash on the corporate tax rate would encourage large corporations to invest more in the country from which they came.
It’s clear that the Republicans’ tax cut bill has done everything to help American families, small businesses, and corporations. Everyone is seeing more money in their pockets, and that allows taxpayers and businesses to have greater flexibility in choosing whether or not they want to invest, donate, save, or spend the extra dollars they have.
And the best part is: Democrats can’t say a bad word against this historic bill.
They may try, but deep down, they know that this law is good for every hard-working citizen.Truth be told, Americans couldn’t be happier with all of the president’s firsts. We look forward to seeing what he has next for us!