Potential changes in the American tax code
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The US government is considering changing the tax code. The corporate taxes are among the highest compared to some other successful countries. Repatriated earnings are also taxed, so U.S. firms are reluctant to bring those earnings home; since firms do pay foreign income taxes on foreign earnings, many feel the additional US tax is a penalty and to not bring such profits home cost jobs and growth. Any thoughts on these tax considerations and business profits/growth?
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Solution Summary
This solution discusses the American tax code with regards to corporate taxes.
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While it is a fact that the US corporate taxes are amongst the highest in comparison to other similarly successful countries, this previously helped the capitalist American economy become what it is today. However, with an increase in firms repatriating their employees, this tax rate has continued ...
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