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The evidence is that US corporations are stashing ~$2 trillion dollars offshore. I'm not saying cutting taxes will fix the problem, but it is very apparent that
by WillPostForFood 10y ago
The evidence is that US corporations are stashing ~$2 trillion dollars offshore. I'm not saying cutting taxes will fix the problem, but it is very apparent that the current tax rate is determining their behavior. Unfortunately it can become a race to the bottom for countries trying to capture the taxes on that income.
- hackuser 10y ago> it is very apparent that the current tax rate is determining their behavior That isn't necessarily true. It could be due to other laws, such as the one that allows them to stash money overseas tax-free. Perhaps that's the law that should change.
- WillPostForFood 10y agoYes, I should have said current tax law, not tax rate, but the getting a lower rate abroad is clearly the main driver.
- hackuser 10y ago> I should have said current tax law, not tax rate, but the getting a lower rate abroad is clearly the main driver. I wasn't clear: I don't know that I accept that, though of course I've heard it many times. It's a narrative that suits people who want to cut taxes for corporations, but those people always have very convenient narratives. Has anyone seen evidence?