Quote:
Originally Posted by Undertoad
Bermuda and the Cayman Islands are British territories. You have now declared war on the EU. Wouldn't it be easier to adjust US business tax and business law so that it *attracts* business from all around the world? Here is a case where lower rates earn greater revenue, and simpler business law earns more jobs.
You can see this at work in the states. New Hampshire has gained population at three times the rate of next-door Taxachusetts for the last three decades, and current NH unemployment is 5.2% compared to Taxachusetts' 7.6%.
|
Do you really think that the profits are accruing to the EU? I don't see any evidence of that.
And as to the changes in the laws to attract business--we already attract the business. The businesses are already here. They LOVE it here, and I'm happy to have them. Yay business!! What we DON'T HAVE is a legal framework that keeps abuse like this from happening. The laws are broken. We need better laws. And by better, I mean laws that make it necessary for these "corporate persons" to pay their fair share, like the majority of Americans do in our system of progressive taxation. The amounts/rates they pay is not in proportion to what others pay, and not by a meaningless amount, but by huge amounts. That's wrong. That's what must change.