3. Go ahead and flame, but I don't have a problem with this
In principle. If you drop the rate AND close all the damn loopholes, we'd come out way ahead.
As far as overseas profits are concerned, we're the only major country in the world that taxes overseas profits. Let's tax what ALL companies earn here in the US at whatever rate, and let foreign countries tax them abroad. The administrative headache of the foreign tax credit isn't worth the cost.
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