The Problem With Taxes.

       When it comes to taxes, the United States is stupid. I say that because our country's tax system allows corporations to keep money overseas, but even worse it encourages large corporations to relocate their headquarters to other countries so that they don't pay any taxes in America.
       Some countries have very low taxes on corporations, so when a company gets its tax bill, it looks at it and then it looks at what it might be if they relocated their headquarters to somewhere like Ireland.. And if they're multi-national they already know they don't have to pay taxes on profits on sales outside America if they don't bring those profits home. So they keep that money outside America.
       Now isn't that dumb? It's dumb and it hurts all of us because every citizen has to help make up that loss of income. We need to change the tax law we have now. My suggestion is to use a 'Point of sale' tax. No matter where it's made and no matter what company or country it comes from, if it's sold in America, the company's profit on that product or service is taxed by America. Either that or it's taxed based on the sale price. Now if an American company makes it here but sells it in another country they don't owe the U.S. any tax on it.
       This would give American companies an edge over all it's foreign competition. Of course at that point other countries would likely change their laws to help their manufacturers. But that's okay. That only means it would level the playing field. And we need to stop paying companies to leave America. That's extra dumb, yet we do it anyway, in the form of tax breaks for the costs of making the move.
       As long as America is fair about it and doesn't try to give special tax breaks for American companies, we would be on sound footing with international law, I'm convinced. The same would be true for any other country. Fair is fair.