In fact, we saw what the result of that was. There was negligible economic growth, the slowest since Herbert Hoover with the Bush tax cuts. And then we had the collapse. Until that revenue that's made offshore is returned home, you don't have to pay tax on it. And when you do pay tax on it, you essentially take a tax credit against the revenue that you returned home, even though you. You bring it back. (07:01–07:08)
CLAIM
Asserts that offshore revenue is not taxed until it is returned to the U.S.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
