Factopolis

The Truth

Estimates vary, but only up to about $2.8 trillion (as of September 2017)

Topics

Claimants

  • Donald Trump × 15

Statements

  • We’re imposing a one-time low tax to bring back all of that corporate money. Now, we think it’s probably in the neighborhood of $4 trillion will be brought back into our economy, into our country. And that’ll produce tremendous growth, and jobs, and lots of other things.
  • We’re bringing $4 trillion or more back into our country. You know, the money that’s offshore… I’ve been talking about $2.5 trillion now for years, but it’s not staying the same – it’s much increased, and we think it’s probably over $4 trillion.
  • Finally, our plan will bring back trillions of dollars from offshore. Trillions. We have, in my estimation, $4 trillion that will come pouring back into our country, that will be put to work, and will be spent by our companies that could never get the money back, for many years.
  • The tax plan is going to be incredible for this country. It’s going to bring back jobs, it’s going to cut taxes tremendously. We’re going to bring back $4 trillion, I think at least from overseas. That money is going to be put back to work in our country instead of other countries.
  • … but we’re going to have a country that that’s going to have tax incentive now, and we are going to bring back – you know, I’ve been talking, and I even heard you say it not so long ago, $2.5 trillion, but you and I both have both been using that number for years. That number is much higher now because its, you know, built up over the years, and I would be surprised if it weren’t close to $4 trillion. That money is coming back.
  • It’s also going to bring back – if we get this passed, which I really believe we will – I think we have to, as a country – it’s going to bring back, I would say, $4 trillion back into this country, which right now cannot come back. It’s being spent in other countries. Money that wants to come back into the United States cannot come back, but under our plan, that money will flow back in. It will be very quick, and it will be very easy. And it’s a lot of money.

    Nobody even knows the amount. It was $2.5 trillion a few years ago, so I would say now it’s got to be close to $4 trillion or maybe above that number. We’ll find out soon because it’s going to come back very, very rapidly.

  • I think the numbers could even hit th $4 trillion mark. People have been saying $2.5 trillion for many years, but we know it’s now much higher than than.
  • So we have $3.5 trillion coming back that will just – literally you couldn’t get it back, because of the tax system. It didn’t really allow the companies even – it didn’t make sense to bring it back. The number was so high, and the bureaucracy so great. So all of that money – it could be more than $3.5 trillion. You know, for years we’ve all been saying $2.5 trillion, well let me tell you: it’s grown a lot, and it’s at least $3.5 trillion will come back into our country and be put to work on jobs and other things.
  • Finally, we are going to bring back trillions of dollars currently parked overseas. You look at the money that can’t come back into our country – I’ve been saying for years it’s $2.5 trillion. Democrats want it back, Republicans want it back, and they have for a long time, they’ve never been able to make a deal. Lack of leadership. They’ve never been able to make a deal.

    We’re putting that in oun tax plan we’re going to bring – I think it’s going to be over $3 trillion. It could be substantially more than that because if I’m saying $2.5 trillion and I’ve been saying it for many years, we know one thing: it’s a lot more now. Nobody really knows the answer; I will tell you I think it’s very substantially over $3 trillion that will be brought back in our plan and put to work in our country, not some other country.

  • We have more than $3 trillion overseas. You can’t bring it back because of the tax rules and the tax – frankly the tax rates. Nobody would ever do it.
  • In addition, we’re going to bring back trillions of dollars–probably in the neighborhood of 4 to 5 trillion dollars–of dollars of wealth parked overseas–never coming back, unless we bring it back through proper tax reform.
  • And finally, we must bring back trillions of dollars in wealth that’s parked overseas and just can’t come back. Our tax system penalizes companies that bring wealth they have earned overseas back to America… The numbers we’re talking about are probably between $3.5 trillion and $5 trillion…
  • And finally, we must bring back trillions of dollars that are currently parked overseas. We have, in my opinion, $4 trillion – $4 trillion. Massive amounts of money that can’t come back to our country because of our tax code and because of the rates.
  • Because of our high tax rate and horrible, outdated, bureaucratic rules, large companies that do business overseas will often park their profits offshore to avoid paying a high United States tax if the money is brought back home. So they leave the money over there.

    The amount of money we’re talking about is anywhere from $3 trillion to $5 trillion. Can you believe that?

    Fact Checks

    • … the independent research firm Audit Analytics has a database for all companies that file with the Securities and Exchange Commission. Don Whalen, the firm’s director of research, told us that as of today, there were $2.8 trillion in corporate profits indefinitely reinvested.
  • But at that time I was talking $2.5 trillion. I guess it’s $5 trillion now. Whatever it is, it’s a lot more. So we have anywhere from 4 [trillion] to 5 or even more trillions of dollars sitting offshore.

    Fact Checks

    • The highest reported number of offshore earnings is $2.8 trillion. That could be off by a couple hundred billion dollars due to undisclosed untaxed earnings. But experts agreed the discrepancy could not add up to Trump’s $4 trillion or $5 trillion estimate.

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Page last modified 2017-10-31. View history.