Tornado Alley (PROG)

[rooster]

Lower the tax rate like I said...


The money is accumulating overseas because corporations are counting on lower U.S. tax rates in the future. At 35 percent, the U.S. corporate tax rate is among the highest for developed countries. In 2004, Congress enacted a one-year "tax holiday" for overseas earnings, and multinationals are hoping for a repeat of that. Presidential candidate Mitt Romney wants to permanently eliminate federal taxes on overseas profits. President Barack Obama attacked that idea last week, saying it won't create U.S. jobs, like the Romney campaign contends.

http://abcnews.go.com/Technology/wireStory/apples-phantom-taxes-hide-billions-profit-16838828#.UA2bX5KVCy8