---- Apple Avoided Billions in Taxes, Congressional Panel Says
diberry - 4:29 pm on May 23, 2013 (gmt 0)
I agree something needs to be done, but it needs to be fair. It's bad enough that everything is getting outsourced, now I fear we'll lose entire companies.
The solution is not that as complex as politicians try to make it sound, so they can continue accepting "campaign contributions" from the lobbies these companies are involved in.
(1) Close some of the loopholes so these companies' effective tax rates are equivalent to those of smaller businesses.
(2) Offer them tax incentives to manufacture in or move operations to the US and provide US jobs. This may bring that effective tax rate right back down again, but at least the country will be getting something for the money - jobs.
Tax incentives, instead of tax cuts. Really, it's that simple. Don't give them a carrot and hope for the best. Tell them what to do to get the carrot, and then withhold it until they've done it.
We could also consider putting as much tariff burden on foreign companies as they put on our exports (if we have any anymore). This would make it easier for our companies to compete in a global economy.
There are a lot of solutions, it's just the politicians don't want solutions. They want to keep getting contributions from lobbyists.