GET https://rct.dev.bbntimes.com/companies/how-us-tax-policy-funds-the-us-debt-burden

Response
200 OK
IP
3.143.23.103
Profiled on
Token
19ef9d

ArticleController :: show

Request

GET Parameters

None

POST Parameters

None

Uploaded Files

None

Request Attributes

Key Value
_controller 
"App\Controller\ArticleController::show"
_firewall_context 
"security.firewall.map.context.main"
_links 
Symfony\Component\WebLink\GenericLinkProvider {#3633
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    3754 => Symfony\Component\WebLink\Link {#3754
      -href: "/build/runtime.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3752 => Symfony\Component\WebLink\Link {#3752
      -href: "/build/644.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3751 => Symfony\Component\WebLink\Link {#3751
      -href: "/build/502.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3750 => Symfony\Component\WebLink\Link {#3750
      -href: "/build/app.js"
      -rel: [
        "preload" => "preload"
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      -attributes: [
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    }
    3749 => Symfony\Component\WebLink\Link {#3749
      -href: "/build/view-more.js"
      -rel: [
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      -attributes: [
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      ]
    }
    3748 => Symfony\Component\WebLink\Link {#3748
      -href: "/build/term-condition.js"
      -rel: [
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      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3747 => Symfony\Component\WebLink\Link {#3747
      -href: "/build/contact.js"
      -rel: [
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      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3746 => Symfony\Component\WebLink\Link {#3746
      -href: "/build/scroll-infinite-article.js"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "script"
      ]
    }
    3745 => Symfony\Component\WebLink\Link {#3745
      -href: "/build/app.css"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "style"
      ]
    }
    3744 => Symfony\Component\WebLink\Link {#3744
      -href: "/build/cookie-style.css"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "style"
      ]
    }
    3743 => Symfony\Component\WebLink\Link {#3743
      -href: "/build/term-condition-css.css"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "style"
      ]
    }
    3742 => Symfony\Component\WebLink\Link {#3742
      -href: "/build/contact-css.css"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "style"
      ]
    }
    3741 => Symfony\Component\WebLink\Link {#3741
      -href: "/build/comment-css.css"
      -rel: [
        "preload" => "preload"
      ]
      -attributes: [
        "as" => "style"
      ]
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}
_route 
"article_show"
_route_params 
[
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  "slug" => "how-us-tax-policy-funds-the-us-debt-burden"
]
_security_firewall_run 
"_security_main"
_stopwatch_token 
"39df53"
category 
"companies"
slug 
"how-us-tax-policy-funds-the-us-debt-burden"

Request Headers

Header Value
accept 
"*/*"
accept-encoding 
"gzip, br, zstd, deflate"
connection 
"close"
cookie 
"care_did=7253cf8d-0c82-4b9e-b25b-f4b08bc0cc2f; PHPSESSID=n9r1vv8bujl7f1n8vtie6r9183"
host 
"rct.dev.bbntimes.com"
user-agent 
"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)"
x-php-ob-level 
"1"

Request Content

Request content not available (it was retrieved as a resource).

Response

Response Headers

Header Value
cache-control 
"no-cache, private"
content-type 
"text/html; charset=UTF-8"
date 
"Sat, 22 Feb 2025 08:42:06 GMT"
link 
"</build/runtime.js>; rel="preload"; as="script",</build/644.js>; rel="preload"; as="script",</build/502.js>; rel="preload"; as="script",</build/app.js>; rel="preload"; as="script",</build/view-more.js>; rel="preload"; as="script",</build/term-condition.js>; rel="preload"; as="script",</build/contact.js>; rel="preload"; as="script",</build/scroll-infinite-article.js>; rel="preload"; as="script",</build/app.css>; rel="preload"; as="style",</build/cookie-style.css>; rel="preload"; as="style",</build/term-condition-css.css>; rel="preload"; as="style",</build/contact-css.css>; rel="preload"; as="style",</build/comment-css.css>; rel="preload"; as="style""
x-debug-token 
"19ef9d"

Cookies

Request Cookies

Key Value
PHPSESSID 
"n9r1vv8bujl7f1n8vtie6r9183"
care_did 
"7253cf8d-0c82-4b9e-b25b-f4b08bc0cc2f"

Response Cookies

No response cookies

Session 6

Session Metadata

Key Value
Created 
"Sat, 22 Feb 25 08:41:46 +0000"
Last used 
"Sat, 22 Feb 25 08:42:05 +0000"
Lifetime 
0

Session Attributes

Attribute Value
_csrf/https-comment 
"TiRAFdILBoVcpmDKK0gTsrTwTPlVbbTHgwD7em5YdJE"
_csrf/https-cookie_accept 
"nOecpqBgfsyMOT3gQ_69nZvQaEGksAOnSiTaXKpge6E"

Session Usage

6 Usages
Stateless check enabled
Usage
Symfony\Component\Security\Csrf\TokenStorage\SessionTokenStorage:76
Show trace 
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Symfony\Component\Security\Csrf\TokenStorage\SessionTokenStorage:79
Show trace 
[
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Symfony\Component\Security\Csrf\TokenStorage\SessionTokenStorage:52
Show trace 
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Symfony\Component\Security\Csrf\TokenStorage\SessionTokenStorage:56
Show trace 
[
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    "type" => "->"
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    "line" => 181
    "function" => "show"
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    "type" => "->"
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    "line" => 76
    "function" => "handleRaw"
    "class" => "Symfony\Component\HttpKernel\HttpKernel"
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    "line" => 197
    "function" => "handle"
    "class" => "Symfony\Component\HttpKernel\HttpKernel"
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    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
    "line" => 29
    "function" => "run"
    "class" => "Symfony\Component\Runtime\Runner\Symfony\HttpKernelRunner"
    "type" => "->"
  ]
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    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/public/index.php"
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      "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
    ]
    "function" => "require_once"
  ]
]
Symfony\Component\Security\Core\Authentication\Token\Storage\UsageTrackingTokenStorage:41
Show trace 
[
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/security-core/Authentication/Token/Storage/UsageTrackingTokenStorage.php"
    "line" => 41
    "function" => "getMetadataBag"
    "class" => "Symfony\Component\HttpFoundation\Session\Session"
    "type" => "->"
  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/twig-bridge/AppVariable.php"
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    "function" => "getToken"
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    "function" => "handleRaw"
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    "type" => "->"
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    "function" => "handle"
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    "function" => "run"
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    "line" => 5
    "args" => [
      "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/autoload_runtime.php"
    ]
    "function" => "require_once"
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]
Symfony\Component\Security\Http\Firewall\ContextListener:171
Show trace 
[
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/security-http/Firewall/ContextListener.php"
    "line" => 171
    "function" => "remove"
    "class" => "Symfony\Component\HttpFoundation\Session\Session"
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  [
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    "line" => 116
    "function" => "onKernelResponse"
    "class" => "Symfony\Component\Security\Http\Firewall\ContextListener"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/event-dispatcher/EventDispatcher.php"
    "line" => 220
    "function" => "__invoke"
    "class" => "Symfony\Component\EventDispatcher\Debug\WrappedListener"
    "type" => "->"
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  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/event-dispatcher/EventDispatcher.php"
    "line" => 56
    "function" => "callListeners"
    "class" => "Symfony\Component\EventDispatcher\EventDispatcher"
    "type" => "->"
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    "function" => "dispatch"
    "class" => "Symfony\Component\EventDispatcher\EventDispatcher"
    "type" => "->"
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  ]
  [
    "file" => "/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/vendor/symfony/http-kernel/HttpKernel.php"
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    "function" => "filterResponse"
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Flashes

Flashes

No flash messages were created.

Server Parameters

Server Parameters

Defined in .env

Key Value
APP_ENV 
"dev"
APP_SECRET 
"0a988e63f011514eaabfc650b599af4d"
CORS_ALLOW_ORIGIN 
"*"
DATABASE_URL 
"mysql://bbndb_rctuser:33F5W25z40or0f7@localhost:3306/rct_bbntimes"
GOOGLE_RECAPTCHA_SECRET_KEY 
"6LdV5fgpAAAAANxzTG8ZMfIjil1wu-1vrQvnUt-x"
GOOGLE_RECAPTCHA_SITE_KEY 
"6LdV5fgpAAAAAENKcn73MJAhQrbtQeqgyC4wDLMP"
MAILER_DSN 
"smtp://no-reply%40rct.dev.bbntimes.com:Bl6%26gLD48%26Of919@rct.dev.bbntimes.com:465"
MARIADB_PASSWORD 
"i!87pK&!85ezc8"

Defined as regular env variables

Key Value
APP_DEBUG 
"1"
BASE 
"/public"
CONTEXT_DOCUMENT_ROOT 
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com"
CONTEXT_PREFIX 
""
DOCUMENT_ROOT 
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com"
FCGI_ROLE 
"RESPONDER"
GATEWAY_INTERFACE 
"CGI/1.1"
HTTPS 
"on"
HTTP_ACCEPT 
"*/*"
HTTP_ACCEPT_ENCODING 
"gzip, br, zstd, deflate"
HTTP_CONNECTION 
"close"
HTTP_COOKIE 
"care_did=7253cf8d-0c82-4b9e-b25b-f4b08bc0cc2f; PHPSESSID=n9r1vv8bujl7f1n8vtie6r9183"
HTTP_HOST 
"rct.dev.bbntimes.com"
HTTP_USER_AGENT 
"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)"
PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY 
"0"
PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY 
"0"
PATH 
"/usr/local/sbin:/usr/local/bin:/usr/sbin:/usr/bin:/sbin:/bin:/snap/bin"
PHP_SELF 
"/public/index.php"
PP_CUSTOM_PHP_CGI_INDEX 
"plesk-php81-fastcgi"
PP_CUSTOM_PHP_INI 
"/var/www/vhosts/system/rct.dev.bbntimes.com/etc/php.ini"
QUERY_STRING 
""
REDIRECT_BASE 
"/public"
REDIRECT_HTTPS 
"on"
REDIRECT_PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_REDIRECT_HTTPS 
"on"
REDIRECT_REDIRECT_PASSENGER_COMPILE_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_REDIRECT_PASSENGER_DOWNLOAD_NATIVE_SUPPORT_BINARY 
"0"
REDIRECT_REDIRECT_SCRIPT_URI 
"https://rct.dev.bbntimes.com/companies/how-us-tax-policy-funds-the-us-debt-burden"
REDIRECT_REDIRECT_SCRIPT_URL 
"/companies/how-us-tax-policy-funds-the-us-debt-burden"
REDIRECT_REDIRECT_SSL_TLS_SNI 
"rct.dev.bbntimes.com"
REDIRECT_REDIRECT_STATUS 
"200"
REDIRECT_REDIRECT_UNIQUE_ID 
"Z7mN3riBoyj8JZ8-HGxvygAAABc"
REDIRECT_SCRIPT_URI 
"https://rct.dev.bbntimes.com/companies/how-us-tax-policy-funds-the-us-debt-burden"
REDIRECT_SCRIPT_URL 
"/companies/how-us-tax-policy-funds-the-us-debt-burden"
REDIRECT_SSL_TLS_SNI 
"rct.dev.bbntimes.com"
REDIRECT_STATUS 
"200"
REDIRECT_UNIQUE_ID 
"Z7mN3riBoyj8JZ8-HGxvygAAABc"
REDIRECT_URL 
"/public/companies/how-us-tax-policy-funds-the-us-debt-burden"
REMOTE_ADDR 
"3.143.23.103"
REMOTE_PORT 
"19339"
REQUEST_METHOD 
"GET"
REQUEST_SCHEME 
"https"
REQUEST_TIME 
1740213726
REQUEST_TIME_FLOAT 
1740213726.4061
REQUEST_URI 
"/companies/how-us-tax-policy-funds-the-us-debt-burden"
SCRIPT_FILENAME 
"/var/www/vhosts/dev.bbntimes.com/rct.dev.bbntimes.com/public/index.php"
SCRIPT_NAME 
"/public/index.php"
SCRIPT_URI 
"https://rct.dev.bbntimes.com/companies/how-us-tax-policy-funds-the-us-debt-burden"
SCRIPT_URL 
"/companies/how-us-tax-policy-funds-the-us-debt-burden"
SERVER_ADDR 
"5.196.1.209"
SERVER_ADMIN 
"[no address given]"
SERVER_NAME 
"rct.dev.bbntimes.com"
SERVER_PORT 
"443"
SERVER_PROTOCOL 
"HTTP/1.1"
SERVER_SIGNATURE 
"<address>Apache Server at rct.dev.bbntimes.com Port 443</address>\n"
SERVER_SOFTWARE 
"Apache"
SSL_TLS_SNI 
"rct.dev.bbntimes.com"
SYMFONY_DOTENV_VARS 
"APP_ENV,APP_SECRET,DATABASE_URL,MARIADB_PASSWORD,CORS_ALLOW_ORIGIN,MAILER_DSN,GOOGLE_RECAPTCHA_SECRET_KEY,GOOGLE_RECAPTCHA_SITE_KEY"
UNIQUE_ID 
"Z7mN3riBoyj8JZ8-HGxvygAAABc"

Sub Requests 6

CookieController :: renderAnalysis (token = cfc30d)

Key Value
_controller 
"App\Controller\CookieController::renderAnalysis"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"727d2b"

AppController :: renderHeader (token = 5ea295)

Key Value
_controller 
"App\Controller\AppController::renderHeader"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"127934"
slug 
"home"

ArticleController :: trendingArticle (token = 284c97)

Key Value
_controller 
"App\Controller\ArticleController::trendingArticle"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"b75cee"
category 
"Companies"

ArticleController :: relatedArticles (token = 9239e6)

Key Value
_controller 
"App\Controller\ArticleController::relatedArticles"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"524a61"
current_article 
App\Entity\Article {#1094
  -id: 574
  -title: "How US Tax Policy Funds the US Debt Burden ?"
  -slug: "how-us-tax-policy-funds-the-us-debt-burden"
  -introtext: "<p><span style="color: #000000;">Tax policy is fascinating – really. According to the Tax Policy Center, 45.3% of the US adult population pays no income tax, despite\u{A0}touching most people’s lives. As discussed in this article, the rules are complex because they need to cover the many ways in which people and corporations act in the pursuit of profit and even philanthropy.\u{A0}</span></p>\r\n"
  -content: """
    \r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #10228b; font-size: 14pt;"><b>Explaining Tax Law\u{A0}</b></span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p>\u{A0}</p>\r\n
    <p><img src="/images/United-States.png" alt="" width="891" height="559" />\u{A0}</p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">Tax laws need to deal with individuals, corporations and hybrid entities such as partnerships and trusts. They also need to deal with the foreign interests of domestic taxpayers and the domestic interests of foreign taxpayers.</span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">Tax laws are the subject of intense lobbying and a great deal of political effort. The Taxpayer Advocate Service estimates that around six billion hours a\u{A0}year are spent preparing taxes. </span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">The Tax Code and Regulations now exceed ten million words. For most people, taxes are a frustrating maze of complexity. And yet, there is a logic and coherence, which if explained properly can emerge as a roadmap to everyday understanding.</span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #10228b; font-size: 14pt;"><b>Portfolio Interest</b></span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><img src="/images/USA-1.jpg" alt="" />\u{A0}</p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">Portfolio interest is an obscure term but extremely important for foreign investors lending money to US borrowers, including the US government. It is like a signpost to heaven written in small font.</span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">To understand portfolio interest, it is important to recall the political and economic conditions in 1984. Ronald Reagan was elected for the first time in 1980. His policies – tax reduction, an increase in military spending, increasing budget deficits, tight control of the money supply – were associated with (some would say “caused”) soaring government borrowing to fund a growing budget deficit, high unemployment and very high-interest rates (approaching 20% at their peak).</span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">While the economic recovery that began in 1983 reduced unemployment and inflation, deficits and interest rates remained high and, because US domestic savings rates were low, deficits were largely financed by foreign lenders. Interest rates overseas were attractive not only to the US government but also to domestic corporations.</span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">The growth in the size of the Eurobond market had for years made it the target of capital markets-led lobbying for relief in the tax treatment of interest payments to foreign lenders. The need to finance growing government borrowing and the re-election of Ronald Reagan in 1984 gave the necessary impetus for reform.</span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #10228b; font-size: 14pt;"><b>The Withholding Tax Problem</b></span></p>\r\n
    <p><br /><img src="/images/USA-3.jpg" alt="" /></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">The problem was that interest payments to foreign lenders were subject to 30% tax withheld at the source of payment. To be competitive with other avenues of lending, US interest rates needed to be 43% higher. US corporations had a solution to the problem: They set up financing subsidiaries in the Netherlands-Antilles to issue the Eurobonds and relied on the favourable treaty between the US and the Netherlands-Antilles to level the playing field with non-US issuers of Eurobonds.</span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">This solution worked but was only practical for larger corporations and was not something the US government could use. Accordingly, tax reform legislation was passed in 1984 that created an exception to the withholding tax on interest paid to foreign lenders. This exception was called the “portfolio interest exception”.\u{A0}</span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">In summary, if a non-US lender that is unrelated to the US borrower, is not a bank, is not a CFC (controlled foreign corporation), and is not engaged in the conduct of a US trade or business, lends money to a US borrower documented in the form of a registered debt instrument paying a fixed rate of interest, then the interest payable on the loan should qualify for the portfolio interest exemption (no 30% tax withheld), provided the non-US lender provides adequate documentation as to its non-US status.</span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">The measure has been successful. Treasury reports show total US securities held by foreign investors have grown from $363bn in 1984 to $17.1trn in 2016.</span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #10228b; font-size: 14pt;"><b>The Bottom Line</b></span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><img src="/images/Bull_Wall_Street.jpg" alt="" width="897" height="505" />\u{A0}</p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">Foreign investors in the US have no interest in being taxed in the US on the interest income they receive. Nor do they want to file US tax forms relating to their investments. The interest of the IRS in collecting the maximum amount of revenue from the economic activity that occurs in the US is sometimes overridden by other macroeconomic interests. </span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p><span style="color: #000000;">Government debt has continued to grow since the Reagan era. The need for the US government and US domestic borrowers to source capital from foreign sources remains paramount in the design of US tax policy. The portfolio interest exception has been a key part of this capital raising initiative.</span></p>\r\n
    <p>\u{A0}</p>\r\n
    <p>\u{A0}</p>
    """
  -user: Proxies\__CG__\App\Entity\User {#1092 …}
  -createdAt: DateTime @1506166557 {#1145
    date: 2017-09-23 11:35:57.0 UTC (+00:00)
  }
  -updatedAt: DateTime @1507125595 {#1150
    date: 2017-10-04 13:59:55.0 UTC (+00:00)
  }
  -deletedAt: null
  -category: App\Entity\Category {#445 …}
  -status: "published"
  -imageCard: Proxies\__CG__\App\Entity\File {#1184 …}
  -ImageHeader: Proxies\__CG__\App\Entity\File {#1184 …}
  -featured: false
  -mainView: false
  -clicks: 5653
  -comments: Doctrine\ORM\PersistentCollection {#1125 …}
  -reviewed_at: DateTime @1506166554 {#1148
    date: 2017-09-23 11:35:54.0 UTC (+00:00)
  }
  -metakey: ""
  -metadesc: ""
  -robots: null
  -publishedAt: DateTime @1506166554 {#1147
    date: 2017-09-23 11:35:54.0 UTC (+00:00)
  }
  -canonical: null
  -superTag: "Taxation"
}

AppController :: renderFooter (token = b40564)

Key Value
_controller 
"App\Controller\AppController::renderFooter"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"4f8d72"

CookieController :: renderCookie (token = 9b9d83)

Key Value
_controller 
"App\Controller\CookieController::renderCookie"
_format 
"html"
_locale 
"en"
_stopwatch_token 
"657cb9"