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Bill idea

DanT
Posts: 5,693
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11/16/2011 11:59:48 AM
Posted: 5 years ago
I had an idea for a bill.

Any US company as defined by section A, is subject to the US tax code on foreign and domestic soil if they meet the criteria of section B.

Summary of Section A;

A company would be considered a US national if they are at least 51% owned by US nationals, or their head quarters is stationed in the US.

Summary of Section B;

A US company, as defined by section A, will be subject to the US tax code, on top of a foreign tax code, when on foreign soil, if their product is imported into the US. For example, A company produces their items their factories overseas, and than sells them in the US.
"Chemical weapons are no different than any other types of weapons."~Lordknukle
Wnope
Posts: 6,924
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11/16/2011 12:46:37 PM
Posted: 5 years ago
At 11/16/2011 12:44:13 PM, Wnope wrote:
If enforceable, I definitely see some upsides to that one.

Downsides being that we will see a significant increase in prices for goods that have production processes that span across nations.

That, or American firms will be undercut by any opposition that uses third world labor.