Originally Posted by cutthemdown
Well fed are you talking about illegal money taxes not paid on? Or are you talking about profits earned overseas not returned to the USA? Because that is a huge issue and i would love to talk about it. I have tried several times but no one seems to see what a huge disaster our corp tax law is.
We need to go to a dual zone system where domestic rate and international rates are different. Companies dont bring the money home because after earning it they pay big fees to the host countries. If they bring it back to the USA it gets taxed again so they just leave it offshore in some country that wont tax it.
This is all legal and most be changed. For one it puts domestic corp not making money overseas at a disadvantage. For another we want that money re-invested in America, and we want some of the tax right?
We need a tax % high enough to make some revenue, low enough to make companies still competitive overseas, but then also a law forcing them to bring at least half of what they make overseas home.
There is billions just sitting out there waiting to come home to america.
****'em it's the cost of doing business overseas. The U.S. owes them no favors for making a business decision to go overseas. Don't like paying 2+ countries taxes stay stateside.