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USA already has worldwide tax jurisdiction. The more difficult problem with capital taxation is how to accurately value an asset.
by ahelwer 10y ago
USA already has worldwide tax jurisdiction. The more difficult problem with capital taxation is how to accurately value an asset.
- syshum 10y agoThe USA tries to have a worldwide tax jurisdiction, and fails at it The Large global companies spend millions on ultra complex business structures to avoid US (and EU) taxes. See GE and Apple as the most publicized examples but they all do it
- ahelwer 10y agoOh, certainly. However, if the US political climate ever reaches the point where a wealth tax is seriously considered (something which would require a constitutional amendment), I very much doubt these loopholes would still exist.
- dragonwriter 10y agoThat's a problem with ad valorem property taxation, but not a problem with taxing capital income.