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All those billions would move out of the US into other countries where the tax regime is more favorable.
by pverghese 4y ago
All those billions would move out of the US into other countries where the tax regime is more favorable.
- snarfy 4y agoThose companies are in the US for more reasons than favorable taxes. Try moving a company to China and see how it goes.
- Foobar8568 4y agoTry moving to Luxembourg, Ireland, Switzerland, the dozen of small islands with special states from UK, US, and some other countries, Singapore... Plenty of choices and its already the case. Look at Cargill legal structure (e.g. search Cargill International Luxembourg for a good laugh)
- sschueller 4y agoThe US can impose this on other countries easily. You don't comply you don't get to touch the USD, no bank can survive without it (at least right now). The OECD recently even got Switzerland to agree on the global minimum tax. Sure you can still go to Russia or China but these companies really want to take that risk?