All companies incorporated in the U.S.A. should pay taxes on foreign income...

[rfranklin]

As we know, the corporation is a person under American law. American persons who cannot prove that they reside overseas must pay income taxes at the regular rates (while there is a $90,000 exemption for those who do reside overseas.)

Since being incorporated in the U.S. implies that the company resides in the U.S., these corporations must pay income tax as resident. (That includes you General Electric!)

Who agrees?

[greymattermom]

1. perfect

and don't forget the alternative minimum tax either

[Wilms]

2. You've convinced me. n/t

[MedicalAdmin]

3. Disagree - but close the loopholes

They should pay on income generated anywhere within the USA. that's fair and just.

[Donnachaidh]

7. fair and just? bwahahahahahah

yeah -- we should be *fair and just* with corporations who shipped millions of jobs overseas, and then still expect the US consumers to pay the SAME prices or higher prices on the merchandise that is now made for pennies (in comparison to what the US workers were making) by foreign workers.

Oh -- and *fair and just* for companies that get subsidies from us even after they've shipped jobs overseas. And then throw tantrums if they aren't given MORE tax cuts and give aways.

Yeah -- I've got your *fair and just* right here.... :sarcasm:

[MedicalAdmin]

9. Would you rather a fair and just government ...

... or a vengeful government. Fair and just government would say; income is generated in the country then corps should pay corporate taxes on it, subsidies should not be given to pay companies to export jobs, that good brought in from overseas should be subject to a reasonable non-protectionist tarrif to account for the infrastructure used (ports, public roads, customs, etc). These are just a few examples. I am not for giving corps a free ride - free ride (snort) - hell, they've been paid to fuck us for decades.

But we either are moving toward justice and the rule of law or we are just moving in the same direction of the past 3 + decades. Companies should no more be punished capriciously than they should be favored capriciously. And they should not have the same rights that citizens do.

[Donnachaidh]

10. we are moving towards a fair and just government? Really?

What brand of koolaid do you buy?

We've been moving AWAY from a *fair and just* government -- thanks to the corrupting effect of lobbyists and money from those very same corporations you claim *need* a fair and just government. They've brought on THEMSELVES the hellfire they should be dealing with now because of their GREED.

The real world of the destruction caused by those companies is something to see. Try it sometime.

[Warren Stupidity]

4. So they will re-incorporate in belgium.

What should be taxed is income generated in the US and all the loopholes that allow corporations to shift that income offshore should be closed.

[HopeHoops]

5. They should also be forced to incorporate in the state where their headquarters is located.

It is royally fucked that companies can have lavish headquarters buildings in low-cost areas but incorporate in Delaware to get out of paying state taxes where they are actually located.

[Nye Bevan]

6. They already do.

http://en.m.wikipedia.org/wiki/Corporate_tax_in_the_United_States

US corporations are liable for US tax on their worldwide income. They do get a credit for foreign taxes paid.

The same applies to US citizens.

[alc]

8. it's not that simple

subsidiaries, partners, licensees, mergers/purchases and other methods are pretty easy to uses to get around US taxes. Other countries want to make it easy so the money stays there and companies can pay for the lawyers and accountants to make it happen.

It some cases it's pretty sleazy wrt to US law and taxes. In other cases it's fair. In other cases it's the smart thing for the US to encourage long term.

For example, my US company starts a subsidiary in country X. We invest in a manufacturing plant that licenses our product. They manufacture and sell that product within that country. They pay my company a license fee that is taxed in the US. They pay dividends to my company that is taxed in the US. They use the rest of the profits to grow the subsidiary within that country or expand to other countries. That country has a low corporate tax because they want growth. If the US taxes the profits, the subsidiary cannot compete with other companies only paying local taxes. That will usually lead to a competitor dominating the market and the US company being left out of international markets (so we won't even have licensing and dividend profits to tax).

Market growth in most industries over the next 10-30 years is going to be in India, Asia, and South America. Applying US taxes to US companies in those regions will pretty much exclude US companies from being a major player.