by Economists Brad Setser, John Hussman, and Paul Krugman discuss tax avoidance disguised as corporate investments. Phantom FDI Profit Shifting Low Tax Countries Mind You, This Takes a Hell of a Lot of Work But Stunning Results Fizzle Mish Asks Where's Da Money? Hussman Reply Proposal It would be a hell of a lot simpler to slash the US corporate tax rate to 10% with no loopholes and put a minimum tax rate of 12% on FDI and profits held overseas. 100% of that money "held" overseas would return in about 15 seconds because it really isn't there in the first place as Hussman explained some time ago. Hussman's only mistake was failure to come up with a catchy phrase like "Phantom FDI". Mike "Mish" Shedlock
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Mike Shedlock considers the following as important: Global Economics
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Phantom FDI
Profit Shifting
Low Tax Countries
Mind You, This Takes a Hell of a Lot of Work
But Stunning Results
Fizzle
Mish Asks Where's Da Money?
Hussman Reply
Proposal
It would be a hell of a lot simpler to slash the US corporate tax rate to 10% with no loopholes and put a minimum tax rate of 12% on FDI and profits held overseas.
100% of that money "held" overseas would return in about 15 seconds because it really isn't there in the first place as Hussman explained some time ago.
Hussman's only mistake was failure to come up with a catchy phrase like "Phantom FDI".
Mike "Mish" Shedlock