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[ale] OT: Tax cuts boost joblessness, encourage outsourcing
- Subject: [ale] OT: Tax cuts boost joblessness, encourage outsourcing
- From: dmcnash at charter.net (Doug McNash)
- Date: Wed Mar 31 13:58:48 2004
- In-reply-to: <[email protected]>
> > But here again, our chief economist appears to be ignorant of basic
> > U.S. tax law. When a U.S. corporation manufactures in the United
> > States, its income is subject to U.S. tax at a nominal rate of 35
> > percent. If the same corporation moves those jobs to some other
> > country, it can normally structure the deal to reduce its U.S. taxes
> > to zero. That's right, zero.
> >
So the obvious solution is to cut corporate taxes to zero.
Wait a min...the purpose of this article is not to suggest the obvious
solution, now is it?