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It's Time to Fully Tax the Multinationals- CBO: Corporate Tax Avoidance Reduced only 23 % by Tax Cut and Jobs Act (TCJA)

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Multinationals were certainly pleased with the TCJA, giving the TCJA a business-friendly sheen — at least until the Congressional Budget Office issued a report in 2018 showing that the legislation would only reduce corporate tax avoidance by 23%. As a result, domestic companies are still competing against multinational companies that enjoy significant tax loopholes.


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Put another way the 40 % drop in the U.S. Corporate tax rate from 35% to 21%, with the stated purpose to make U.S. Domestic Corporations competitive was 77% wasteful. If Multinationals were taxed fully by the TCJA, competitiveness could have been achieved by a reduction of 3.25% from 35% to 31.75%

TCJA’s supporters claim that patience is needed — until the legislation demonstrates its full worth. But domestic companies continue to face a tilted playing field. They urgently need a more effective solution.
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Hugh Campbell Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

A seasoned financial professional, currently providing subject matter expertise on a variety of regulatory topics, including the Dodd-Frank Act, the Foreign Account Tax Compliance Act (FATCA) and overall compliance monitoring. He has previously held (more...)
 
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Hugh Campbell

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Sales Factor Apportionment, proposed by David Morse (Tax Policy Director at the Coalition for a Prosperous America Education Fund), the author of It's Time to Fix the TCJA, Not Study It is a bullet-proof antidote against Tax Inversions by Multinationals, which has been allowed to accelerate since 1983 by our Federal officeholders!

Submitted on Thursday, Oct 3, 2019 at 4:33:25 PM

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