renounceuscitizenship:

The arguments apply equally to U.S. citizenship-based taxation of individuals.

Originally posted on International Liberty:

Mitt Romney is being criticized for supporting “territorial taxation,” which is the common-sense notion that each nation gets to control the taxation of economic activity inside its borders.

While promoting his own class-warfare agenda, President Obama recently condemned Romney’s approach. His views, unsurprisingly, were echoed in a New York Times editorial.

President Obama raised…his proposals for tax credits for manufacturers in the United States to encourage the creation of new jobs. He said this was greatly preferable to Mitt Romney’s support for a so-called territorial tax system, in which the overseas profits of American corporations would escape United States taxation altogether. It’s not surprising that large multinational corporations strongly support a territorial tax system, which, they say, would make them more competitive with foreign rivals. What they don’t say, and what Mr. Obama stressed, is that eliminating federal taxes on foreign profits would create a powerful incentive for companies to…

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2 thoughts on “

  1. thatisme

    Obama applies the same thinking to Americans and dual citizens living abroad making their lives hell. Will not get their votes.

    Reply
  2. Jefferson Tomas

    @thatisme As you and I and many others discuss at Isaac Brock, US worldwide tax policy does the same against individuals (natural persons who are US citizens or green card holders) who are bone fide residents abroad. And there is no deferal for such “US Persons”!!!! US Persons abroad are less competitive due to this and less able or willing to build more trade bridges with the US.

    Reply

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