American companies are hoarding their international cash to the tune of hundreds of billions of dollars. I say, “Cough it up!”
Large cash reserves are nothing new, of course. But it’s a sign of the times. Companies don’t want to take risks so they sit on their profits and refuse to bring it back to the U.S.
Take Apple, the iPhone maker. They’re sitting on umpteen bazillions of slave labor profits that are stashed in banks outside the U.S. What are they afraid of? Why won’t Apple bring that money back home?
Taxes.
The U.S tax rate scares Apple and other multi-national companies. How do these piles of cash have anything to do with foreign affairs? Americans need jobs. My job is to promote America. That means jobs, too. It’s economics 101 and economics and foreign policy go hand in hand.
If we can get Apple to bring some of their slave labor profits back to America, and invest in U.S. jobs, the economy will grow. When the economy grows and Americans begin to prosper again, I’ll have a better shot at the White House in 2016.
As Bill always said, “It’s the economy, stupid!“
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