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Not really - there are benefits to being based in the US. If everyone just chased the lowest taxed jurisdictions then every corporation would be based in a tax
by cmdkeen 11y ago
Not really - there are benefits to being based in the US. If everyone just chased the lowest taxed jurisdictions then every corporation would be based in a tax haven.
Corporations aren't repatriating the money they hold offshore. I can see why the US wants a piece of that pie, but they currently aren't getting any pie and are losing piemakers. Taking a smaller cut of something whilst also having that something flow back into the US is surely a good thing.
- deleted 11y ago[deleted]
- icebraining 11y ago> Corporations aren't repatriating the money they hold offshore. Indirectly, they are: "Nearly Half of So-Called “Offshore” Funds Already in the United States" Earlier this year, a survey was sent to 27 U.S. multinational corporations and found they held more than half a trillion dollars in tax-deferred foreign earnings at the end of FY2010. The survey also found that 46% of those foreign earnings – almost $250 billion – was maintained in U.S. bank accounts or invested in U.S. assets such as U.S. Treasuries, U.S. stocks other than their own, U.S. bonds, or U.S. mutual funds. https://www.hsgac.senate.gov/subcommittees/investigations/media/new-data-show-corporate-offshore-funds-not-trapped-abroad-nearly-half-of-so-called-offshore-funds-already-in-the-united-states https://www.hsgac.senate.gov/subcommittees/investigations/me...
- muzz 11y agoYes, an important but never-mentioned distinction is that "offshore" is basically an accounting designation, and that money is not somehow prevented from being put to work in the US.