The Obama Administration is proposing to raise more than $100 billion from American multinational corporations by limiting in some way the ability of U.S. companies to defer tax on profits earned a...
The Obama Administration is proposing to raise more than $100 billion from American multinational corporations by limiting in some way the ability of U.S. companies to defer tax on profits earned abroad. The premise behind the proposal is that by raising the taxes paid on the foreign profits of U.S. companies earned abroad, the companies will somehow have more incentive to locate their operations here in the United States.
The proposal, however, is flawed and fails to recognize that in the increasingly global economy where capital flows freely across borders, the United States can no longer expect other countries to follow its policies. The proposal will penalize the foreign operations of U.S. companies operating abroad and make it more difficult for them to compete with foreign companies.
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normally id be against this sort of thing, but when corporations decide that theyre going to find every way they can to "cheat" on taxes (including bribes to congress), this extra tax really doesnt seem like that much. Aside from this: middle class americans are being duped into more taxes, because the governement is being cheated out of an estimated 1/2 of its money by corporate america. (Source:Perfectly Legal, David Cay Johnston)
While foreign nations decrease tax rates to attract foreign companies/investment, democrats seek to raise taxes on U.S. corporations...so dumb. S Korea has no foreign investment tax, Germany recently lowered theirs, Mexico's is abt 6% along the border, Russia has proposed lowering theirs, & so on. Dems don't get it: lowering U.S. corp taxes to globally competitive rates enables corps to thrive, enabling expansion/projects, which creates jobs. JFK knew this: see JFK tax cuts on utube. MBA grad.
At the beginning it says it's an issue before Congress... but is it a current bill or something they are tossing around? I visited the website, but found no further information. A search on the Library of Congress webpage brings up several results for "tax deferral" in the curent congressional session. I'd love to share this video on facebook, but before I do I need to know exactly what bill this is so I can let my friends and family know what to refer to in a letter to their rep.
so you dont understand basic economics. Companies that dont grow can't hire as much, also, why work in america when you can work in china for less. Basically leave america. The biggest "american company" is boeing, and it only has 35% of its business in the US. So tell me, if the biggest company only does 35% of its business in america, and we tax them more, you think they will continue?
So y0ou want to hurt the poor? making them pay more for the same products? If someone is having difficulty paying for an american made product and the cost of that, then what would change if foreign companies had to pay more? All you are doing is hurting the poor of the country who rely on cheaper products in order to survive.
Also, you are then supporting bad business practice. Companies that do well to keep prices down shouldn't be penalized.
want a fair playing field for american companies espcailly the small mom and pop comanies not big global companies there has never been FAIR TRADE AGREEMENT this would make it fair
want fair play and free trade does not offer that besides ever 20 years or so a COn would get into office and job the taxes down to around 10% then all people who have off shores accounts bring there money home
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Also, you are then supporting bad business practice. Companies that do well to keep prices down shouldn't be penalized.
there has never been FAIR TRADE AGREEMENT this would make it fair
besides ever 20 years or so a COn would get into office and job the taxes down to around 10% then all people who have off shores accounts bring there money home