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View Diary: Corporate Tax Freebies, Tax Fairness, Saving Lives (9 comments)

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  •  That's basically how the system works now. (1+ / 0-)
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    VClib

    Like your two states, the US grants a credit for the taxes paid to the other country.  If corp A has income in country X with a 40% rate, it pays 40% to X; it owes 35% to the US but gets a credit for the payment to X and has a tax liability of zero. If X has a 30% rate, company pays 30% to X and then 5% to the US.

    •  skeptical (0+ / 0-)

      If what you're saying were true, what would be the motivation to keep the money overseas?  It doesn't seem to hold together.

      "We all too often have socialism for the rich and rugged free capitalism for the poor." - Martin Luther King Jr.

      by workingwords on Thu Jun 26, 2014 at 02:39:40 PM PDT

      [ Parent ]

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