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Monday, December 5, 2011

Sullivan: Let's Promote the Competitiveness of All American Businesses

Tax Analysts Martin A. Sullivan (Tax Analysts), Let's Promote the Competitiveness of All Businesses, 133 Tax Notes 1175 (Dec. 5, 2011):

The best way for tax policy to promote domestic economic growth is to reform the tax system so that all job-creating sectors of the economy are taxed evenly. Therefore, if Congress has the opportunity to reform corporate taxes, it would be far better to reduce our high corporate tax rate (which would be a direct incentive for domestic job creation) rather than make our already generous foreign tax rules even more favorable (which would be a direct incentive for foreign job creation). ... [B]etween 1999 and 2008, U.S. multinational corporations cut their domestic employment by 1.9 million jobs. Over the same period, U.S. multinationals increased their employment overseas by 2.4 million jobs.

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