Comment Define "overseas profits" (Score 2) 825
I can understand trying to get companies to stop gaming the system by shuffling their US profits to overseas holding companies to avoid taxes, but is this what this proposal is actually doing? If it is I'm all for it, but somehow I wonder if this is trying to tax overseas profits from overseas sales simply because the company is US owned. There was a raft of articles a few years back about US citizens having to renounce their citizenship because they were being taxed at obscene rates despite the fact that they didn't live, work, vote or even visit the US. Maybe its my latent paranoia but I wonder if this is the corporate version of this.