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While agree that lower rates would help and are fundamentally a better idea. I also think that it should not be legal to avoid these taxes in the current way. I
by xupybd 9y ago
While agree that lower rates would help and are fundamentally a better idea. I also think that it should not be legal to avoid these taxes in the current way. In order for the system to work these loopholes need to be closed. The market is based on the survival of the fittest and taxes can really distort things if not applied consistently. I think this is the key reason we need to solve this problem. Not to collect more from the rich but to make sure large international companies do not have an advantage based on their ability to hide funds offshore.
- Veratyr 9y ago> make sure large international companies do not have an advantage based on their ability to hide funds offshore The problem with this is that most international companies I've seen with funds offshore made that money offshore and ultimately, the cost of paying US taxes is unlikely to be worth the negligible benefit of being a US company. If the loopholes are closed I think it likely that companies will move. There are plenty of places with free trade and low tax. The US should limit taxation to US-sourced income. If there's no penalty for a company to bring its revenues to the US, it will likely do so and use it to drive local investment.