Found the original release and FAQ and documentation. I actually wrote an extension that will convert that document into a LaTeX document, with actual post script Tamil font support. You could print in Tamil from the Madurai encoded Tamil document. Fun times, 26 years ago!
But 90% of the people in the top 5% are also getting a raw deal and are shafted. It is the top 0.5% that is reaping all the benefits of the growth. Their share of the income went up by a factor of 10, and their portion of taxes remained the same. That tax burden is borne by the people in the 99.5% to 90% bracket. Below 90% level they have neither the income, nor the tax burden.
What USA says is, "don't care who makes the profit where. Your total tax burden can not be below this threshold. Pay this much tax to any jurisdiction you choose, using whatever law/accounting practice you want. If all the taxes paid to all the foreign governments do not add up to this threshold, you owe the rest to US government".
This is a very logical, clean, simple effort to derail the race to the bottom. But industry spins it as "US government taxes world wide income! Onerous, We don't owe US government for profits made outside USA!" No USA does not really want to tax profits made abroad. USA just wants to make sure you don't play one country against another to reduce your tax burden. We just don't want you to game the system. Pay X% as tax to any government you choose.
USA does not want to mess with the internal of the company or how it prices and deals with different divisions internally. All USA is saying is, we will tax you on worldwide income. You declare profits anyway you want, anywhere you want, pay whatever taxes you want to pay to any government you want to pay. If by US law you would have paid X$ as taxes, you pay that much in tax. If all the taxes you have paid to all other governments does not add up to X$, you pay the rest to ?USA. This is completely logical, completely made with one goal. To stop companies from racing to the bottom. Companies shop around for governments to pay the least overall tax. What USA wants to do is to make sure that they can't race to the bottom.
You declare profit anywhere you want, pay any tax due to any government. But overall you can not reduce your tax burden below a certain threshold. That is the stand taken by the US government. It is entirely logical and necessary to prevent the race to the bottom. Only people fooled by the billionaire funded media and the paid shills of them believe USA is taxing too much and the corporations are victims.
The corporate tax has been shrinking in America and the burden has been foisted on individuals. It is time to reverse the decades old trend.
He was working as a village karnam a hereditary village official assisting land tax office and other official government work. A coupld of decades after the independence, the government decided to abolish the heridiatry position and regularize them all as "village officers". Part of the application process was filling documents for age and dates of birth. My dad told him government retiremnet age was 58 and he would be retired in 13 years or so. He did not want to suffer the loss of income. One of the official forms of documentation for date of birth was an affidavit fron the village karnam. So he issued himself an affidavit proclaiming him to be 20 years old!. Only adverse consequence was his traditional Hindu ceremonies he had to do as he turned 60 all had to be done in secret, lest the government becomes aware of his true age!
Was thinking all the birthers could have gone to Kenya. The could find a local dynamic_cast(village karnam) to issue birth certificates for any one for any date.
[*] I am using the formula dleta_t=(sqrt(1 - (v/c)^2) + poetic_license(liberal_dose)).
Hope a paid alternative to WhatsApp emerges.
Asynchronous inputs are at the root of our race problems. -- D. Winker and F. Prosser