|04-08-2014, 06:11 PM||#1|
A verbis ad verbera
Join Date: Mar 2006
Location: Long Beach
We need corporate tax reform
Foreign profits held overseas by U.S. corporations to avoid taxes at home nearly doubled from 2008 to 2013 to top $2.1 trillion, said a private research firm's report, prompting a call for reform by the Senate's top tax law writer.
Here is the big problem. Right now our govt taxes foreign profits and domestic profits the same. All that does is force corporations to leave profits overseas.
They can't squeeze 30 plus percent out of them but that is a lot of cash sitting overseas Americans aren't getting a slice of. This screams for reform. Lower the rate, but force them to bring some of it home to be taxed.