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Politics : American Presidential Politics and foreign affairs
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To: DuckTapeSunroof who wrote (48660)8/8/2011 12:20:50 PM
From: TimF  Read Replies (1) of 71588
 
No tax loopholes are involved here. If the profits are neither realized in or returned to the US, not taxing them is not a loophole.

And taxing them will just drive a reorganization where the profits won't even be realized by a US owned entity, and there will be nothing to tax at even the a 5.25% amnesty rate.

A better alternative than an amnesty would be to reduce all corporate income tax rates. We have one of the highest rates in the world, which is why so much of that income is never brought here. We need to reduce the rate to a competitive rate.
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