... Instead, Obama earlier this year proposed applying a 14 percent mandatory tax on the stockpiled profits and a 19 percent minimum tax on foreign earnings going forward. That seems a sensible approach. Even so, I wonder if it wouldn't be better to have an even lower repatriation rate. Bringing cash earned overseas into the US means money spent in the US, which ultimately is going to lead to economic growth and increased tax revenue. It seems silly to blame the companies, especially those that might have legitimate reasons for expanding overseas.The companies owe taxes at the full U.S. corporate tax rate of 35 percent on profits they earn around the world. They get tax credits for payments to foreign governments and don’t have to pay the residual U.S. tax until they bring the money home.