I find it somewhat ironic how indignant many become when they report on Apple, IBM’s, and GE’s profits and bemoan the taxes they pay. On every level of government we make deals with these companies for exemptions, credits, and other financial incentives to move to the particular state or locality in the U.S. or abroad. Dozens of tax treaties and free trade agreements are negotiated between countries to “stimulate trade,” many that have favorable tax clauses built into them.
Our tax system is one of the most complex and onerous to deal with, I did it for forty plus years. With the tax structure we have now (especially corporate) there is no incentive for American companies to move operations back to the U.S. or “repatriate” the profits they make abroad. Of course now that our bloated and inefficient government is again desperately trying to squeeze more money from us all those earlier incentives and tax benefits offered are forgotten in light of the corporations (or the dreaded 1%) paying their “fair share.”
Apr 12, 2017