I guess being outraged is more important than the facts, right?
Hey that's politics don'cha know? Load an American company down with tax regulations and beat them to death over their foreign profits, then complain when they move they head quarters to where those profits are treated more equitably.
There is a fix for that however, wonder if the complainers will ever catch on?
Chairman of the House Ways and Means Committee,
Rep. Bill Archer (R-TX) - August 12, 1996
- "A recent survey was done, in Europe and Japan, of the major corporations and I was astounded at the results. They were asked, 'If the US abolished its income tax and went to a sales tax, would that have any impact on your decisions?' Eighty percent of the corporations said they would build their factories in the United States of America. Twenty percent said they would move their international headquarters to the United States of America."
Repeal all income & payroll taxes on American businesses, then charge imports the same retail sales tax as you do domestic products for the first time in nearly one hundred years. Exports go out tax free, imports get hit with the full freight they escape from under the current income/payroll tax system.
No, we can't have that. You see, if foreign companies relocated their headquarters here, then workers like me who are employed by these foreign companies will be lambasted on this site just for working for the foreign company. Nevermind the facts that this foreign company that I work for has both its R&D and manufacturing base right here in DFW, TX.
They're foreign, you see.
