Pull the plug.
rwood
Advantage of taxing gross revenues:
>> Takes away fake accounting and questionable business deductions. GE paid zero taxes in recent years!
>> Eliminates 3 martini lunches paid by other tax payers.
>> Rewards the more productive and efficient outfits, and stops subsidizing the chronic money losers by others.
Liberals don’t get it. Taxing the hell out of creative productiveness causes it to flee the country.
It is really a simple solution, if you are going to sell or import products or services into country ABC, then you have to have a tax subsidiary that is headquartered in the country. All expenses occurred and revenues generated in the country have to be accounted through that subsidiary. Taxes get applied to the profits generated by the subsidiary.
Ef the French
Meanwhile, the IRS declares it has the right to tax the overseas earnings of American citizens, even if they had not set foot in the US at any time in the taxable year.