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God Bless The Real American Spirit ! So, let the largest beneficiary of the Infrastructure Maintain it…at the very least by stopping them from dodging their tax burden and shifting it to US. Rectifying this is how we get Douglas Emhoff Kamala Harris For The People Shirt. There are currently no economic consequences for deadbeat corporations who ship jobs overseas, still get tax breaks and CEOs that get bonuses for destroying our economy and jobs. Grampy’s plan is unworkable in a free society.
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As noted in the report he quotes – international businesses have plenty of other ways to reduce their tax burden. Grampy’s solution is to REQUIRE foreign profits to be taxed as they are earned. The alternative for a company having a subsidiary overseas, is to actually Douglas Emhoff Kamala Harris For The People Shirt in a foreign entity – therefore, profits would be taxable only as that entity pays dividends – or the entity is sold – so the current law exists as an attempt to allow US companies to compete internationally, while still maintaining a lot of control. We now live in a free world market – you can buy a share of Toyota stock as easily as you can Ford, and both operate internationally.
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Our current corporate tax system – the highest in the world – encourages companies to do business in the US – but NOT be based in the US. To really change these economics would require a re-tooling of the tax system, to a Value added tax or something similar – rather than relying on corporate income.
In fact – those are very good investments to look for as they end up returning more Douglas Emhoff Kamala Harris For The People Shirt to the shareholder. Although i would say that I agree with Bernie’s plan which offers “subsidies” to send jobs overseas. That doesn’t make sense.
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