RE: The U.S. Is Now The Second Largest Tax Haven In The World
And how can domestic businesses that genuinely meet their tax obligations compete with these global multi national tax evading monsters ? They can't ! And that was the whole point of globalization.
The answer is simple. Countries should Impose tariffs equal to (or better yet, exceeding) the local tax rate on all products and services for companies that cannot demonstrate that they have fairly paid their share of tax.
Even if a corporation demonstrates that it had paid 1% using a tax haven, slug them for the difference between that and your domestic tax rate.
We used to have tariffs. What happened to them ? Oh that's right, they were removed as part of globalization. A process we were told would make out local businesses more efficient and competitive by forcing them to compete on even keel internationally.
I look around at all the closed factories in my home town. Yeah, that's worked ever so well !
Will we see the return of tariffs ? Not with our corrupt bought and paid for politicians.