Comment Re:What? (Score 1) 825
No, by this plan, it's not "In the first example, this administration says both." It's "In the first example, this administration says either, up to a total of 19%, with the foreign state having the right to collect first." The US will initially not be getting any of the money. All foreign states would be insane not to immediately raise taxes to 19%: their tax-haven clients will be paying that one way or the other and wouldn't care.
The point is not to tax the foreign money. It's to remove the ability of corporations to push their money to foreign countries to avoid taxes. If you push money to someplace with a 5% tax, you'll still owe 14% to the US. So why bother pushing the money anymore?
It doesn't repatriate the money already gone, but it stops the untaxed out-flow.