Quote:
Originally Posted by 12clicks
but that does nothing for jobs.
The money brought in would be profits. if it weren't it could be brought in tax free at any time to cover expenses. so there would be a small, one time boost in revenue but still no jobs.
My plan is much more reaching than that
|
It's trillions in revenue that was brought in last time.
If they move money here, for any reason right now, expenses, investments, etc... it's taxed at 40% gross.
For a corp to get the tax benefit (even today) they have to invest it in themselves, which is what produces jobs, just like before.
Major American corps are sitting on more liquid cash than ever before in history. Them investing that money is an expense, and any major startup like that will have major costs for a long time, thus very little to no taxes (10 year average on return), and even major tax benefits depending on where they setup.
I do support a zero corp tax rate though, I need a raise... I'm not going to hire anyone new, I don't need anyone, but shit... I'll pay the tax personally and take that as a new income stream any day of the week.