The GOP tax overhaul just made Goldman Sachs $5 billion poorer

The Republican tax overhaul will leave Goldman Sachs an estimated $5 billion shorter in profits in its final quarter of this year, CNN Money reports. While that is partially due to changes to tax credits, which will be worth significantly less next year under the new rules, most of the hit comes from the "repatriation tax," which involves money returned to America from overseas. "U.S. companies had found ways to legally park money overseas to avoid the higher U.S. corporate tax," The Associated ...