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Politics : Formerly About Advanced Micro Devices
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To: PKRBKR who wrote (791474)6/23/2014 5:37:05 PM
From: i-node2 Recommendations

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FJB
one_less

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>> I know someone that works at Medtronic and they have ~$50B off shore and can't figure out how to make use of it. So what do they do? They buy Covidien for ~ that amount of money. Covidien is an Irish company and the new company will be as well. Problem solved and F-U USA tax man.

What do they expect?

Tim Cook testified before Congress a while back and told them if they'd cut the tax on repatriation to a reasonable figure they'd bring their money back. But no way that's about to happen with Reid at the helm. It is just stupid.

The corporate income tax raises very little money at all. If they would just eliminate it altogether the economic surge that would result would easily raise that much in higher personal income tax. They have to know this. Yet, no one would dare propose it.

It is idiotic policy like this makes me extremely pessimistic about the future of the country.
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