| Submit your comments on this article |
| Home Front Economy |
| ‘Manchurian Candidate’ Starts War on Business |
| 2009-03-09 |
| Posted by:tipper |
| #1 Currently, the U.S. has the second-highest corporate tax on Earth. U.S. firms can compete in Europe by opening a subsidiary in a low-tax country and locating the profits there. Since the high U.S. tax applies only when the money is mailed home, and firms can let the money sit abroad for as long as they want, the big disadvantage of the high rate is muted significantly. End that deferral opportunity and U.S. firms will no longer be able to compete, given their huge tax disadvantage. With foreign tax rates so low now, it is even possible that the end of deferral could lead to the extinction of the U.S. corporation. If any firms are to remain, they will be festooned with massive carbon-permit expenses because of ObamaÂ’s new cap-and- trade program. Perot would have nothing on the huge sucking sound of U.S. Corporations leaving the U.S. for foreign soil. In fact I am beginning to think that is the whole idea behind Bambi's tactics..... |
| Posted by: CrazyFool 2009-03-09 18:33 |