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Stop taxing foreign earnings of American Companies...they've already been taxed.....
But for U.S companies such repatriation of earnings carries a significant penalty: a federal tax of up to 35%. This means that U.S. companies can, without significant consequence, use their foreign earnings to invest in any country in the world—except here.
The U.S. government's treatment of repatriated foreign earnings stands in marked contrast to the tax practices of almost every major developed economy, including Germany, Japan, the United Kingdom, France, Spain, Italy, Russia, Australia and Canada, to name a few. Companies headquartered in any of these countries can repatriate foreign earnings to their home countries at a tax rate of 0%-2%. That's because those countries realize that choking off foreign capital from their economies is decidedly against their national interests.
posted by
Corbin_Dallas
on December 14, 2010 at 2:56 AM
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I think that could be a good idea. I think the idea of term limits will help though obviously. If you reduce the pay or cap it, you make it less fruitful to be employed publicly instead of privately..that along with a limited amount of time they can be in congress means they are there not because of a continued and growing power, but because they truly want to be servants of the electorate....
posted by
jwdesha
on December 9, 2010 at 10:12 AM
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I like what you are trying to do, and I am willing to do all I can to get the ball rolling. The first suggestion that I would have is to repeal the 17th amendment and start having the state legislators elect senators again as the founders did, as it was their constitutional job to represent the states and not the people, either that or reduce their terms to that of a congressmen for that is what they have truly become since the days of Woodrow Wilson. Another good post
posted by
UtahJay
on December 9, 2010 at 10:03 AM
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