Grind for September 25th, 2018
“When everything seems to be going against you, remember that the airplane takes off against the wind, not with it.”
– Henry Ford
American companies bring half a trillion dollars back to the country
For years, US companies have stored money overseas to avoid paying taxes. But the corporate tax breaks signed into law last year by President Trump have convinced more businesses to stay in the US.
As reported by the Commerce Department, US businesses repatriated $294.9 billion during Q1 and $169.6 billion during Q2. All told, US businesses have brought back about one-sixth of the $3 trillion they hold overseas.
Last year’s tax overhaul includes a one-time repatriation rate of 15.5% and an 8% tax on non-cash assets. Prior to last December, the repatriation rate was 35%.
These incentives have convinced Apple to bring the majority of its overseas cash back home – a transfer that will cost approximately $40 billion.
As estimated by the Joint Committee on Taxation, the repatriation tax will generate more than $338 billion in revenue over the next decade.
“If cash and non-cash assets were to be repatriated in equal amounts that would equal corporations paying taxes on approximately $2.86 trillion,” notes Newsmax.
Smaller companies have responded to the Trump Administration’s incentives by increasing employee bonuses and philanthropic donations.
Democrats ignore accusations against Rep. Keith Ellison (D-MN)
Karen Monahan on Wednesday released a medical document which she claims is proof of the abuse she suffered at the hands of Rep. Keith Ellison (D-MN).
Ellison, who serves as deputy chairman of the Democratic National Committee, has denied accusations that he sent Monahan threatening text messages, verbally abused her, and yanked her off a bed by her feet.
The medical document, which is dated November 2017, notes that Monahan “identifies the individual she was involved with as Congressman Ellison” and “is worried about retribution if she identifies him publicly.”
Monahan claims she has a video showing Ellison’s abusive behavior, but has refused to release the footage. Monahan’s son Austin claims he saw evidence of Ellison’s abusive behavior, including the video:
“I found over 100 text and twitter messages and video…that showed Keith Ellison dragging my mama off the bed by her feet, screaming and calling her a [expletive],” wrote Austin on Facebook. “The messages I found were mixed with him consistently telling my mom he wanted her back” and that he would “bully her and threaten her if she went public.”
Ellison has received virtually no pushback from the DNC, while Monahan claims she has been “smeared, threatened, and isolated” from the Democratic Party.
Whether or not Monahan’s claim is true, her story brings to light another issue: neither side seems to care about the victims. It’s all about scoring political points.
Democrats (and the media) have largely ignored Monahan, but they are virtually celebrating Christine Blasey Ford’s accusation against Trump’s Supreme Court Nominee Brett Kavanaugh.
Unlike the accusation against Kavanaugh, which relates to a high school party nearly four decades ago, the charges against Ellison are recent and specific.
“Supposed DNC and DFL investigations into Ellison’s actions have vanished into thin air, and the media has been curiously incurious about their status,” says Hotair’s Ed Morrissey. “None of the media has given Monahan a percentage point of the attention afforded to Kavanaugh’s accuser.”
In the meantime, the DNC is supporting Ellison is his campaign against GOP opponent Doug Wardlow for Minnesota Attorney General.
According to a Star Tribune/MPR News poll, 21% of voters believe Monahan, 22% do not, and 57% are unsure.
GOOD TO THE LAST DROP:
Did you know… During the Gold Rush in 1849, some people paid as much as $100 for a glass of water!