Posted on 11/21/2015 7:09:39 AM PST by Toddsterpatriot
The Treasury Department has unveiled new regulations aimed at reeling in tax-dodging U.S. corporations trying to take advantage of friendly international tax codes. Snip
"U.S. companies are currently taking advantage of an environment that allows them to move their tax residence overseas in order to avoid paying taxes in the United States without making significant changes in the nature of their overall business operations," Treasury Secretary Jacob Lew told reporters Thursday as he announced his department's new corporate inversion guidelines. Snip
Those on the right generally want to avoid sweeping tax increases for American corporations, while proposals brought forward by the left typically try to account for the lost tax revenues associated with a lower corporate rate by increasing taxes in other areas.
(Excerpt) Read more at msn.com ...
Typical Dems, 0% of $1 billion is still $0. The revenues are lost because of our highest in the world corporate tax rates.
Of corse the Democrats would NEVER think to reduce our taxes all across the board and spend less money....
Ping!
Nothing they do to stop a US company from inverting would prevent a foreign company from buying that US company and saving taxes on the offshore profits.
Of course this is just the opposite of what they should be doing.
The thought of lowering corporate tax rates here never crosses their minds.
Never mind that they collect little to nothing already of those overseas corporate profits.
As always, the appearance of doing something (to appease the populists and anti-capitalists) is the only thing that matters.
That's crazy, just the kind of loony left wing thinking that's messed us up from day one. Like, there's nothing illegal about saying "hi" to your neighbor so this hurts the government because it's not taxed yet. Same w/ the sleep tax, and the eating tax. They going to tax air next?
” They going to tax air next? “
Just the carbon in it.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.