Dell's Dilemma: Overseas Cash http://t.co/4oj9CJgBAy US tax laws are destroying US corporations and #americansabroad – Wait till #FATCA
— U.S. Citizen Abroad (@USCitizenAbroad) July 2, 2013
This is just one more article which demonstrates how U.S. tax laws are destroying the United States. It is very clear that there is an “IRS discount” associated with any U.S. entity or citizen who conducts economic activity outside the United States.
This article caught my attention in part because of a quotation from one Villanova law professor by the name of Richard Harvey. He is quoted as saying:
If companies “can structure a deal where they can bring cash back and avoid even a cash tax charge, that is nirvana,” says Richard Harvey, a Villanova University law professor who worked as a tax accountant and formerly advised the IRS. “They either enter into some elaborate tax structure that they hope avoids IRS scrutiny, or they might just decide to borrow in the U.S. and keep the money offshore.”
Incredible. As has been noted in previous posts it can actually be less expensive for a company to borrow rather than pay the taxes to repatriate their earnings. Funny, last I heard, the U.S. thought it was good to invest in America. Guess Congress and the IRS don’t think so.
To make matters worse, money earned outside the US provides a permanent cash injection into the economies of other countries. It’s never coming home. How dumb is that?
How US tax laws provide a cash injection into #offshore economies http://t.co/L3nFCmzJq4 – Cash earned outside US can never come home!
— U.S. Citizen Abroad (@USCitizenAbroad) July 2, 2013
