I am really intrigued by Rashkin's comment. You write: Rashkin told Congress that the current structure encourages U.S. companies to “park the resulting intellectual property in tax havens.”
What does that mean?
It means that IP that was developed in the US becomes owned in a tax haven so that the profits from such IP are not taxed in the US. This is why companies find it profitable to put jobs overseas even if there is no business reason to do so.
Bringing manufacturing back to the USA requires leveling the playing field. An easy way to do this is to eliminate taxes for companies manufacturing in the USA with US citizen labor. Let companies keep the profits within the company. They could use their profits to purchase equipment, fund, R & D, finance expansions, or just keep a nest egg to cover a unexpected bad year. Only tax the money that is removed from the company (compensation, dividends, bonuses, etc.)
Fair enough. But please understand that throwing a gratuitous jab at congressional Republicans (while conveniently leaving out the Democrat controlled Senate - Harry Reid et al), and then giving a kiss on the cheek to the Obama administration - where both sources sighted were unidentified and obviously biased - does more to identify your particular political bent than it does to fairly assess the ideas chances. Which, btw, is a subject deserving of its own detailed treatment. That given the complexities of our system, and the long history of parties doing battle over tax laws.
Without those last two paragraphs I was able to get a feel for the idea's merits and, as a conscientious voter, would further research the idea and decide to act, or not, by calling my local representative in support of, or against, the idea.
With them I am forced to doubt the source and take chances on my employment by writing long responses to the writer. This does neither of us any good.
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