OldSchool wrote:
I don't agree with either of your suggestions. Money moved overseas just means our tax system is to regressive. Reduce the taxes, and that money will stay here. As for the "lowest paid employee" idea, what if his legitimate business deductions are over that? BTW, that socialism.
When taxes are reduced, the rich keep more money here in country, and free up more for capital investment. New companies start with this investment and more people are employed. Increase taxes, and the rich hoard more money, and move it into tax shelters, of which many are overseas. Rich people do the hiring, not the poor, or lower middle class.
The U.S. currently has the second highest corporate tax in the world, and is the only country that taxes companies that have company entities overseas on top of the taxes they pay to that host country. That needs to change. the problem is the democrats are in power, and they only know how to raise taxes. Exception being JFK, the only democrat to reduce taxes, and it worked.
I don't agree with either of your suggestions. Mo... (
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. . or they could invest the money here and grow our economy.
Re paying taxes to jost countries. Why do they have one room corporate headquarters in other countries that have no income taxes, if it isn't to avoid taxes here?