Originally Posted by peacepipe
That's stupid, here we are needing more revenue & you want to create a situation where there is even less revenue.
You kidding this idea was floated by Bill Clinton it would create tons of revenue. Right now the govt gets nothing from that revenue. It stays in the countries it was made in, or goes to other offshore banks.
Right now they just leave it all out of the USA and the govt makes no revenue. So how could my idea result in a revenue decrease? We need a different tax zone for our corp that do biz overseas. This isn't a big super conservative point. If it was me I would drop it from the 35% we try and get, to something more like 10%. But in exchange we close the loophole and tell companies they have to bring back at least 50% of the profit the generate overseas.
Trust me you do that and it would mean billions for our economy. Clinton even threw out the possibility of a one time amnesty with no tax paid but only for a short time. Then you go with the reduced rate like 10%. You tell companies you have 6 mos to return money and invest in in the USA and pay no tax on it. He explained it would be like a private sector stimulus.