Pervasive loopholds engineered by well-connected lobbyists allow US multinationals to skirt American taxes and outsource jobs to low-tax countries. President Obama proposes plugging loopholes and tax coffers will grow by $210 billion over the next decade.
Gary Hufbauer suggests that Obama would have been better advised to cut the top rate and pay for it by simultaneously ending many preferences.
The empirical evidence would be the true outcome during the course of time.
Chinese leaders are aware of similar situations for fairness to tax system as I read from other sources.
Francis Shieh aka Xie Shihao, an observer for a more equitable distribution of taxation in USA and in China for Sino-American Economics on Monday,May 11, 2009 at 12.42 p.m.
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