That’s a bullsh*t meme. We are the only country that I know of that provides for taxing money earned overseas. We do, however, exempt income kept overseas. That’s why all that money is “hidden” overseas. (It was already taxed by its countries of origin, by the way.)
Get rid of extraterritorial taxation, and some of that money comes back here. As it is invested, and resulting revenues grow, our tax take will increase. You will also see fewer corporate inversions, such as Burger King going to Canada and Pfizer going to Ireland.
No money is “stolen” from the taxpayer. It is simply NOT stolen from the companies LEGALLY keeping it over there, since our confiscatory taxes are not piled on top of the taxes charged by the other countries.
Wow....I had to check and make sure I was on the right website, because for a minute there, I thought I was on DU.