At the same time, the current tax regime employed by the U.S. is being abandoned by the two remaining large capital exporters – the UK and Japan – that had maintained similar regimes.

What?

I know we\’ve exported a lot of capital in the past. That we\’ve still got huge overseas holdings (well, people in the UK own lots abroad).

But we\’ve been exporting capital? Seriously? When we\’ve been running trade deficits for decades?

I don\’t think so, not really, at least not nett we haven\’t been.

1 thought on “Eh?”

  1. There’s no reason why it needs to be net though, is there? The UK is a large goods exporter, despite the fact it runs a trade deficit.

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