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Ok, what you're basically saying here is that we should let companies decide how much taxes they're going to pay. Why would 10% be the number? Why is it not pro
by karmajunkie 9y ago
Ok, what you're basically saying here is that we should let companies decide how much taxes they're going to pay. Why would 10% be the number? Why is it not profitable to move money around at 5%, or 2.5%? Lawyers are only expensive to normal-income people—the amount it costs to put all this kind of thing together is an order of magnitude smaller than a rounding error on the sums in question.
No. International conglomerates should have to follow the same rules as everyone else, and that means that we as a country determine what their fair share is, not them.
To be clear, I'm in favor of tax reform, though not the sleight-of-hand that's currently on the table. I agree with the argument that small to medium sized businesses are really the ones taking the brunt of a higher tax rate, because they can't afford or otherwise don't have the means to avail themselves of the kind of accounting tricks that multinationals do, and I'm in favor of closing those and reducing the corporate tax rate.
But its not up to the company to decide what taxes they're going to pay or not.
- gbacon 9y agoIt’s an interesting idea in principle, but how will you implement it in the real world?
- karmajunkie 9y agoIf we can pass a law forbidding US companies from doing business with or in nations like Cuba or Iran, we can certainly do so for countries that fail to enforce their international reporting duties.