Foreign profit tax break was costly bomb: report
The subcommittee's report found that the last repatriation tax holiday cost the Treasury at least $3.3 billion in net revenue lost over ten years and that it "produced no appreciable increase in U.S. jobs or domestic investment, and led to U.S. corporations directing more funds offshore."
A second such tax break, it said, would cut government revenues, fail to create jobs and increase incentives for U.S. corporations to move more jobs and investment abroad.
Foreign profit tax break was costly bomb: report | Reuters
A second such tax break, it said, would cut government revenues, fail to create jobs and increase incentives for U.S. corporations to move more jobs and investment abroad
Our highest in the world corporate tax rates and our idiotic insistence on taxing world-wide profit is incentive enough for US corporations to move jobs and investment abroad.
Cut the corporate rate to something reasonable, like 15%, and foreign corporations would move jobs and investment here.
Sure UNTIL the next nation cuts it to 10%. MOST Corp profits on US Corps are made WITHIN the US even counting 'accounting tricks' like Google and Apple use.
Good Gov't Policy, IF the GOP would allow it again, would do just fine to keeping jobs AND tax revenues in the US. Of course I don't expect that until 2018-2020 when the extremists TP/GOP is finally destroyed and the Birchers who run it are put back in the corner, as they wewre up until Reagan!
Sure UNTIL the next nation cuts it to 10%.
Well, keeping ours at 35% hasn't helped much, has it?
Good Gov't Policy, IF the GOP would allow it again, would do just fine to keeping jobs AND tax revenues in the US.
Cutting the corporate rate would do both. And putting a leash on the EPA. Of course Obama thinks wagging a finger at corporations will do the trick.