I know most people see this article and think that American's are getting screwed. Actually, the article makes the case that as American taxpayers we are getting screwed. The article also only gives one side of the argument, basically saying 'close the loop holes and tax the hell out of them'. However a better answer to raising the taxes or more vigorously applying them is to drastically lower or remove them all together. I link you to the following article from Bloomberg.com
http://www.bloomberg.com/news/2010-10-12/stimulus-of-1-trillion-adds-nothing-to-deficit-frank-aquila.html
To summarize the article he states the companies would no longer have a reason to hide the money, which they would in turn bring back into the US and use somehow. Whatever way that is, it will almost assuredly be taxable, whether it be more jobs (tax on income), more infrastructure, dividends to investors, what-have-you.
If companies are going to great lengths to avoid high taxes, in turn withholding tax revenue, how does making them pay more/up make any sense?
Slashdot Mirror
I know most people see this article and think that American's are getting screwed. Actually, the article makes the case that as American taxpayers we are getting screwed. The article also only gives one side of the argument, basically saying 'close the loop holes and tax the hell out of them'. However a better answer to raising the taxes or more vigorously applying them is to drastically lower or remove them all together. I link you to the following article from Bloomberg.com http://www.bloomberg.com/news/2010-10-12/stimulus-of-1-trillion-adds-nothing-to-deficit-frank-aquila.html To summarize the article he states the companies would no longer have a reason to hide the money, which they would in turn bring back into the US and use somehow. Whatever way that is, it will almost assuredly be taxable, whether it be more jobs (tax on income), more infrastructure, dividends to investors, what-have-you. If companies are going to great lengths to avoid high taxes, in turn withholding tax revenue, how does making them pay more/up make any sense?