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Politics : PRESIDENT GEORGE W. BUSH
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To: Mr. Whist who wrote (235379)3/8/2002 11:54:25 AM
From: willcousa  Read Replies (1) of 769670
 
It all comes down to defining fair share. If a company headquartered in Bermuda makes profits in the US it pays US tax. If a company headquartered in the US makes profits in Bermuda it pays US tax. That is the competitive rub for multinational companies based in the US. It is no accident that the result is that most of the largest banks, insurers and others in the world are headquartered elsewhere than the US. In fact three of Canada's banks are larger than most US banks. We are the only country of any significance that taxes worldwide income.
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