It’s no mystery why American companies have stockpiled over $2 trillion of overseas earnings in foreign bank accounts. If they bring it to the United States, the IRS would grab 35% of it. That’s the US corporate tax rate – the highest in the developed world, double the average in EU nations.
Tagged: Warren Buffett
Political rhetoric in the United States, particularly on the right, has a strong tendency to focus on the incomparable economic freedom of Americans and American businesses. They portray the rest of the world as more socialistic and the American system as the closest thing to a free market economy operating in the world. Yet that is far from the truth. In fact, America is swiftly being supplanted as a preferred place of business by many other countries in the rich world.
On April 15, nearly 90 percent of American adults filed their income tax returns for the 2013 tax year. And at the end of that day, I finished drinking a glass of truly tremendous bourbon; 130 proof seems appropriate to numb the pain.
Heartland’s Jay Lehr predicts Obama will ultimately reject the Keystone XL pipeline. But that will not slow development of Canada’s tar sands, a supposed goal of the environmental activists.
“Mike,” who declined to give his last name, responded to my recent blog post, “Of Toilet Bowls and Fiscal Cliffs: A Simple Solution,” in which I proposed as a political[…]
The nation nears the fiscal precipice as I write these words, and as you read them it may well have gone over. In Washington, Waikiki, and wherever, it’s all politics[…]
Stop that cringing! I can already see the light at the end of the tunnel. And it’s not pretty for today’s neo-Marxist Democrat party. The man you see before you[…]
[First published in Investors Business Daily.] There he goes again, Warren Buffett bleating about the supposed need for government to more heavily tax high-income earners while he owns life insurance[…]
As the president’s new tax plan looms on the horizon, the fallout from the notion of a minimum tax rate for millionaires has begun. While Democrats begin to use words[…]