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Exactly. The people arguing to "close tax loopholes" don't understand that it's not loopholes being used by companies who haven't yet repatriated large sums of
by kobayashi 11y ago
Exactly. The people arguing to "close tax loopholes" don't understand that it's not loopholes being used by companies who haven't yet repatriated large sums of money. It's a product of sovereignty. Those companies need to be incentivized to patriate their money, but the current tax regime simply makes keeping money abroad the financially responsible decision.
- gozo 11y agoWell, I literally (literally) slept trough this discussion, but for the record please tell me how the "check the box" rule is not a loophole. It was a mistake from trying to make the tax rules simpler which wasn't supposed to happen and they've tried to repeal it multiple times without success. http://www.reuters.com/article/2013/05/31/us-usa-tax-checkthebox-insight-idUSBRE94T17K20130531 http://www.reuters.com/article/2013/05/31/us-usa-tax-checkth...
- kobayashi 11y agoHmm, that's an interesting article. Although I'm familiar with the commonplace tactic of oversees shifting of profits, I never knew that the legal principle described in the article as "check the box" was widely considered to be a tax loophole.