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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (231522)	5/4/2005 5:27:55 PM
From: TimF	Read Replies (1) of 1572689

What I meant was the corporate world, not "the rest of the world". But if you put in place selective higher taxes for some foreign companies you will get more than just the corporate world annoyed at you. Other countries' governments will not like not like the trade barriers either. So I have a fairly anti corporate attitude. I have a strong anti-corporate welfare attitude, but no anti corporate attitude. Like what reasons? Practical reasons - It would probably violate GATT. It would distort trade by discriminating against some companies, and it probably would not result in any major benefit. Ideological reasons - Its an example of the government taking more control. I think the US government should exercise less control over trade or over overseas Americans. The US is one of the few countries that taxes income that is 100% earned overseas by people residing overseas and who stay outside the country for the whole year. If I was a citizen of most European countries and I moved to a low tax country and became a legal resident, started a business that received all its income in the low tax country, I wouldn't have to pay tax to my home country. If I did this as an American citizen I still would have to pay the tax. I could probably deduct the foreign taxes, but if they are lower then American taxes I would still have to pay the difference. I think countries should recognize that their jurisdiction stops at their border. Sure if an American kills and American on the high seas (esp. in an American ship, or on a ship on its way to America) I could see it as reasonable that the American cops investigate the situation, but for the most part I don't think people outside the US should be subject to US law. If a group effectively or literally declares war on the US and take hostile action against the US our government has a right, even a duty to fight back, so I think we should hunt down terrorists, but people peacefully living in another country should only be subject to the laws of that country. If they sell to the US they are subject to the laws the US has about imports but they shouldn't face more restrictions than anyone else in another country does. You are not taxing a product so it does not constitute a trade barrier. It would be similar to a business license. If you want to sell in the US market, you must pay a set amount for a license to do business in the country. If it is more than a nominal amount and it isn't charged to American companies it is a trade barrier. Tim

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