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house Bill H.R. 297

Should it be Harder for Corporations to Avoid Taxes on Offshore Profits?

Argument in favor

This bill would incentivize corporations to move profits and jobs back to the U.S., thereby increasing federal tax income and helping combat inequality.

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04/18/2016
"Today, we lose over $100 billion a year in revenue because large corporations stash their cash in offshore tax havens around the world. That is unacceptable." [berniesanders.com]
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BarackObama's Opinion
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04/18/2016
"A lot of these loopholes come at the expense of middle-class families… There's always going to be illicit movement of funds but we shouldn't make it legal." [nbcnews.com]
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Steven's Opinion
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04/17/2016
They already get tax breaks as well as subsidies here. Then go international to avoid contributing to the system that built them in the first place. While continuing to make the majority of their profits here. Which is a slap in the face when it's my tax dollars supporting this behavior.
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Argument opposed

Additional tax and reporting regulations would stifle the global expansion of U.S.-based companies and create tax uncertainty for businesses.

operaman's Opinion
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04/17/2016
The very best way to prevent this problem without spending a dime is to lower corporate tax rates inviting corporations to do business inside the US. These off-shore accounts are part of US Tax Laws that allows oversea's earnings to remain overseas. Reducing Corporate Tax rates is the answer.
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vicratz's Opinion
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04/18/2016
It is a sign that the government's taxation policy is over burdensome. When they make it attractive to conduct business and invest here in the US companies and people won't find it tempting to avoid taxes in order to retain the earnings they need to invest.
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Libertarianus's Opinion
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04/17/2016
The fact that this is just to punish businesses for responding to higher taxes notwithstanding, this is remarkably hypocritical seeing as how the US is seen as a tax haven for other countries.
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bill Progress


  • Not enacted
    The President has not signed this bill
  • The senate has not voted
  • The house has not voted
      house Committees
      Committee on Financial Services
      Committee on Ways and Means
    IntroducedJanuary 13th, 2015
    "Today, we lose over $100 billion a year in revenue because large corporations stash their cash in offshore tax havens around the world. That is unacceptable." [berniesanders.com]
    Like (130)
    Follow
    Share
    The very best way to prevent this problem without spending a dime is to lower corporate tax rates inviting corporations to do business inside the US. These off-shore accounts are part of US Tax Laws that allows oversea's earnings to remain overseas. Reducing Corporate Tax rates is the answer.
    Like (19)
    Follow
    Share
    "A lot of these loopholes come at the expense of middle-class families… There's always going to be illicit movement of funds but we shouldn't make it legal." [nbcnews.com]
    Like (58)
    Follow
    Share
    They already get tax breaks as well as subsidies here. Then go international to avoid contributing to the system that built them in the first place. While continuing to make the majority of their profits here. Which is a slap in the face when it's my tax dollars supporting this behavior.
    Like (39)
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    Share
    Yes , we are hemorrhaging businesses to cheap foreign labor and lower corporate taxes. Making businesses attractive again to bring them home to the United States will be a good start, this is one way to start, along with cutting corporate tax rates
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    It's a shame capitalism in America has become about profits rather than quality products that improve life. We should reform our tax law to make doing business in America more attractive, instead of "making it harder to evade taxes."
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    It is a sign that the government's taxation policy is over burdensome. When they make it attractive to conduct business and invest here in the US companies and people won't find it tempting to avoid taxes in order to retain the earnings they need to invest.
    Like (6)
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    Share
    The fact that this is just to punish businesses for responding to higher taxes notwithstanding, this is remarkably hypocritical seeing as how the US is seen as a tax haven for other countries.
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    This is great, but cut business taxes at home and raise them abroad, not just the latter. We need strong incentives to make American companies create American jobs again.
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    Lower the corporate tax rate. Right now, it's the highest in the World.
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    Lower the tax rate so there is incentive to remain here.
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    No, first the government should think about the reasons why corporations are parking their money outside the USA. It's because the tax burden is to harsh. Reduce taxes and the government won't have to worry about corporations offshoring money.
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    These are the same corporate CEO's that vote republican to keep illegals out but will exploit them and their country for cheaper labor crippling our economy at the same time.
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    I don't believe we should tax offshore profits, unless, it's really just a loophole to get away from their taxes.
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    Let's fix the tax code, that's the problem.
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    Let's put more money in our system. Easy as that.
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    Lower the business tax thereby creating an environment in which businesses can grow.
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    It's essentially breaking the law and stealing from the people.
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    Instead of imposing new restrictions on an already difficult tax code, we should lower corporate tax to stop this from happening in the first place. Make the tax code easier by simplifying it, including ending loopholes, and make corporations pay a lower corporate tax instead of none at all through all these tiny loopholes. I agree with some parts of the bill, but we need to lower the corporate tax if we expect big corporations to abide by the law and stay in the US.
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    To me, the dangers and unlawfulness of tax evasion outweigh the capitalistic desire for global expansion and conquest.
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