“These defendants, knowing full well that their business with U.S. customers and U.S. banks was illegal, tried to stack the deck,” said Janice Fedarcyk, assistant director-in-charge at the FBI. “The defendants bet the house that they could continue their scheme, and they lost."
Did anyone else almost throw up when they read this?
1) Reduce the tax rate dramatically. 10% would be good, less would be better.
If you were to just stick with #1, it would be a much better policy.
Right, so then why does GE, with a 0% tax rate, still cut 1/5th of its U.S. workforce in favor of offshore labor? Can't get a much better deal than that.
"An idealist is one who, on noticing that a rose smells better than a cabbage, concludes that it will also make better soup." - H.L. Mencken