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These companies are not in US today, so we are not talking about staying. You can't stay if you are not here now.
Switzerland has had this policy for some time now, and it does not concern only corporations, but private citizens too. Many European have permanent addresses in SWZ for tax purposes. The Swizz figured out that even if the top earneres pay a low tax percentage, they still pay most of the taxes. It works the same in US where the top 5 richest pay 60% of taxes. Only the Swizz lowered their taxes lower than ours to attract the people with money.
The funny part is that in US, the lower income people insist we tax the rich more, while in Switzerland the lower income people are OK with taxing them less as long as they keep coming and paying for their common welfare. They figured it out, and we haven't.
Check that again and see if any of these are located in America
Well no kidding. Raise taxes here and it's just making leaving the U.S. more and more attractive for corporations. Talk about shooting yourself in the foot...
If you've travelled and really gotten to know the economies of other countries (some travel but never mingle w/ the locals), you'll see that people go where the jobs and economic freedom are. If it ain't happening in the USA, sensible business people will set up shop in Singapore, Switzerland, etc., where barriers to trade are minimal and they can compete on a global scale.
The US had its day in the sun and now the party's over. We dominated in the 50s and 60s b/c Europe was still rebuilding from the devastation of WWII. We dominated b/c China, India, and Brazil were primarily agricultural nations and now they have industrialized while keeping wages low. Conservatives are often accused of being backwards, but it is the Liberals who are backward looking -- thinking we can just throw up all kinds of trade barriers, keep wages unrealistically high, and everything will be hoonkey dorey. Well, this ain't the 20th century -- we're in a global economy now.
Soon you'll see our nation's finest (engineers, doctors, etc.) migrating to other countries where opportunities are better and where they won't be taxed to death. Conversely, the world's finest will no longer see the USA as a place to immigrate to -- w/ hyper inflation, high taxes and high controls on business.
You will see prices going through the roof -- you'll see long lines of people waiting at the banks to convert their dollars to Euros or whatever the most stable currency is every single time they get a paycheck b/c keeping it in their local currency would be the equivalent of thowing the check into the trash. I saw it myself in Argentina, which went through hyperinflation and massive foreign debt. Don't deny that it can't happen in the great ole USA. We are not immune.
Its time to cut their taxes and give them a reason to stay in America.
They've already had their taxes cut. For 8 years. During that 8 years, they merely outsourced American jobs. They don't give a damn about America or Americans.
Corporations have been off-shoring for years, it's time to start penalizing those that do.
Time to START penalizing? US corporations already pay the highest in the industrialized world. Obama and the Democrats are doing their best to chase corporations away.
They've already had their taxes cut. For 8 years. During that 8 years, they merely outsourced American jobs. They don't give a damn about America or Americans.
Corporations had their taxes cut? Really?
If I were a corporation and the government was screwing me, I'd find a government that treated me better. How can you possibly blame them?
Time to START penalizing? US corporations already pay the highest in the industrialized world. Obama and the Democrats are doing their best to chase corporations away.
The reason they move their headquarters offshore is to avoid paying taxes. It's a tax dodge.
Congress needs to cut the corporate tax rate and make the U.S. a more favorable place to do business. Until then, no one should be shocked when they take off to cheaper places.
Cutting the corporate tax would be feasable if accompanied by a comparable cut in govt. spending, which I'm all for.
If spending isn't cut, however, the difference would have to be made up somewhere.
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