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Actually, the US gets to benefit from this. This money will be taxed in the US, at best; or repatriated as a deal at worst {https://www.bloomberg.com/news/artic
by csomar 6y ago
Actually, the US gets to benefit from this. This money will be taxed in the US, at best; or repatriated as a deal at worst {https://www.bloomberg.com/news/articles/2019-12-19/u-s-companies-repatriated-cash-hits-1-trillion-under-tax-law https://www.bloomberg.com/news/articles/2019-12-19/u-s-compa...}.
> 88% of the cost of the US Fed gov is paid for by taxes by workers (income taxes). Less than 12% comes from all corp/business taxes combined with capital gains (taxing the rich 1%). Business shifting tax burden to workers is a massive scale problem. $3.5 Trillion = US Tax Revenues (2019) and 88% came from workers.
This is meaningless. You need to look at something called "fiscal pressure". If you remove employees taxes and increase corporate taxes, what you'll probably get is lower salaries. {https://en.wikipedia.org/wiki/List_of_countries_by_tax_revenue_to_GDP_ratio https://en.wikipedia.org/wiki/List_of_countries_by_tax_reven...}
tl;dr: Taxes are a political topic when they should be a scientific one.