Quote:
Originally Posted by ndcent
Thank you for a reasoned response. Regarding attracting businesses to set up/remain in the US, with the commonly held notion that we aren't competitive with the rest of the world tax-wise is wrong.
Corporate America Pays Higher Tax Abroad: Study
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The flaw with your assessment here is that this considers US-based companies with foreign operations. Many companies are opting to move their base to other developed countries or set up separate entities in undeveloped countries where the tax rates are lower and the red tape is easier to navigate. My company moved it's headquarters overseas a few years ago for this very reason. If you take a look some other operations you'll see that the factories or service centers are not under their corporate brand, but under a company registered in the local country and contracted as a service provider to the parent company.
To further my point on the zero corp tax rate, look at the last part of that article. All those major companies are still US based because of their ETR. Imagine how many companies would come running back if it didn't take an act of congress or mult-million-dollar lobbyist and campaign contributions to get the same treatment...