ACCBoards

1. Lower the rate to 20% to 25%.

2. Change the taxation of foreign corporations that sell into the US. Our entire system is set up to give them tax favored status, and our response is to penalize US based companies that have overseas operations. Completely ass backwards.

Two options

A. VAT, or
B. Expand the permanent establishment rules for any company selling into the US. For any company that is taxable in the US, we tax them under a unitary business concept on worldwide income and give a tax credit for foreign taxes paid up to the US tax rate.

Foreign countries would have a cow, but are those companies going to abandon the US marketplace? Not hardly.

US companies would lose the tax deferral of controlled foreign corporations, but the tradeoff would be a lower corporate tax rate, and they would be able to repatriate capital at will when needed.

1) Eliminate corporate taxes
2) Eliminate individual taxes
3) Eliminate payroll taxes and all other Federal Inland Revenue
4) Levy taxes on the 50 States pro-rated based on 20% of GDP.

Most State taxing authorities don't know their arse from a hole in the ground to that extent that makes the IRS look like a bunch of geniuses. I am sure they would be equiped to make sure that foreign companies selling into the US would pay their fair share.

(06-08-2010 07:54 PM)ChrisL68 Wrote: [ -> ]Foreign countries would have a cow, but are those companies going to abandon the US marketplace? Not hardly.

better yet, make them produce in the US what they sell in the US, then tax them just like any otehr US business. we'd all get to pay less

the US is the biggest sap in the world history of negotiation of any sort, including trade. we have the most important market in the world by far and we give it away. wait, no, we pay to give it away.

the we pay again to secure the countries we paid to hand over our market to

Eliminate all tax. We'll operate on charity. Based on the amount of attention given to the subject, we must be the most tax phobic nation in the World.