I was referring
by TONI H - 4/11/12 7:48 AM
In Reply to: RE: companies should not be allowed to move their profits by JP Bill
to increasing the tax liability that the 'theys' currently pay.....however, by passing a law that says they can no longer put their money into offshore accounts, that money would now be taxable at the current rate, not at an increased rate. By only increasing the tax liability on what stays within the country and allowing them to hide money offshore, they will only ship more of their money offshore and the increased tax liability will mean nothing. By using current tax percentages on what they would have to bring back to the country, the revenue is increased a hell of a lot more than trying to increase the tax liability on what they have to report today. Companies like GE would then finally be paying 'their fair share' to the Treasury and all rates could be reduced or held to the current level.