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by s1artibartfast 1445 days ago
You say that like it is a bad thing?

They follow the law. If you find fault with the law fix it.

If you don't like tax deductions, don't begrudge people for taking them. Remove them.

1 comments

Yes sure, I'll use my billions I saved from crooked tax law to lobby for less crooked tax law. That's how it works right?
do you take deductions on your personal tax filings or voluntarily deny them?
Thats quite a straw man. There's a pretty big difference between using a benefit as intended and taking advantages of loopholes in tax law by creating multiple shell entities around the globe. You can argue they have a duty to shareholders to optimize profits, but let's not pretend it's the same thing as paying your taxes as the law intended.
As a US citizen you can't declare your income was earned in Ireland and avoid or reduce paying US federal income tax. You can't avoid US federal income tax even if you lived in Ireland and worked for an Irish company for that year.
You can renounce your citizenship which is essentially the same thing.
You can't just renounce it. It's a quite expensive process. And naturally, once you have, you no longer receive any of the benefits of US citizenship. Whereas the companies in question get to avoid taxes while retaining the benefits of being located in the US.
>Whereas the companies in question get to avoid taxes while retaining the benefits of being located in the US.

My understanding is that they are treated like any other global company located outside the US that is doing business within the US.

It seems as arbitrary as the US policy of taxing expats living and working in foreign countries just because they were born on US soil.

It is much more practical to tax both individuals and corporations when and where they make their money opposed to where they originated.

Of course to do so would likely require a shift from corporate taxes to more sales and capital gains taxes, which is a good idea in its own right.