Rule Number One for federal agencies approaching the end of the fiscal year on Sept. 30 is “don’t get caught with any unspent funds.” Buy something — anything — or Congress will cut your budget going forward. Swamp-drainer Trump’s first year in DC continues the long tradition of September binge spending.
‘If a US multinational puts its offshore cash into a US bank and uses the money to buy US treasuries, stocks and bonds, those funds ought to be treated as having been repatriated and subject to US tax’
– Senator Carl Levin
The US government makes vast interest payments to technology giants including Apple and Microsoft on the billions of dollars they shelter from tax offshore. A trawl of Securities & Exchange Commission (SEC) disclosures shows that Apple, Microsoft, Google and Cisco Systems hold $163 billion in US government debt, earning these companies