Source: https://www.linkedin.com/feed/update/urn%3Ali%3AugcPost%3A6785968445201674240
United States Federal Government #Treasury: New Tax Plan Given #Record #High #Corporate #Profits and #Record #Low #Individual & #Household #Incomes as % of #GDP Year-after-Year: https://lnkd.in/enPfzxV :
Although U.S companies are the most profitable in the world, the United States collects less in corporate tax revenues as a share of GDP than almost any advanced economy in the OECD. At the same time, the U.S. corporate income tax system incentivizes shifting of profits and investment abroad—and allows other countries to undercut corporate tax rates here. For instance, a U.S. corporation making a physical investment abroad pays no U.S. tax on the first 10% return on foreign investment. And, both U.S. and foreign corporations still have substantial incentives to report profits in low tax countries and strip profits out of the USA; the latest data suggest that such profit shifting remains at record levels.
Bridgewater Associates’ Ray Dalio on addressing #income #inequality and #reforming #capitalism: https://lnkd.in/ev-X6Gz
#WarrenBuffett and Bill Gates agree that the rich should pay higher taxes—here’s what they suggest: https://lnkd.in/eDupu_P
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