Paul L. Caron

Wednesday, November 29, 2017

Sanchirico: Senate Bill Would Enshrine International Tax Gimmicks

The Hill op-ed:  Senate Bill Would Enshrine International Tax Gimmicks, by Chris Sanchirico (Pennsylvania):

The version of the GOP tax plan that came charging out of the Senate Finance committee just before Thanksgiving break — the version the full Senate takes up this week, and the version most likely to become law — reads like it was written in a rush. This is especially true of the several diverse provisions ostensibly designed to prevent U.S. multinationals from avoiding tax on their foreign earnings.

Those sections, like so many paintballs shot at a wall, present no clear pattern. But step back, tilt your head, and squint: you’ll see that even all the splotches taken together do not in fact put a stop to the tax games that multinationals presently play. Instead they codify and sanctify them. ...

[T]he president wants a bill on his desk before Christmas that he can sign as a present to the American people. But the Senate ought to slow down and give the American people the gift of good government.

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