Stunningly simple way to boost federal tax revenue

[Omaha Steve]

http://www.wnd.com/2015/06/stunningly-simple-way-to-boost-federal-tax-revenue/

Exclusive: Roger Simmermaker says 'It's not going to cost you an extra dime, either'

ROGER SIMMERMAKER

Economist Pat Choate, author of “Agents of Influence” and former vice-presidential candidate (for Ross Perot), once estimated back in the 1990s that our national treasury loses at least $30 billion a year simply because U.S. consumers buy the day-to-day products they need from foreign-owned companies instead of American-owned companies.

And that includes foreign-owned companies that produce here in the United States. Although there are exceptions as with anything else, as a rule, foreign-owned companies pay lower taxes to America compared to their U.S.-owned rivals.

With an increasingly global economy and after approximately 20 years of inflation, that $30 billion figure once estimated by economist Pat Choate is sure to be much higher today.

A recent Wall Street Journal article detailed how foreign acquisitions of American-owned companies reached $275 billion last year. That’s twice the dollar amount of foreign takeovers in 2013. And the first two months of this year had already seen $14 billion worth of transactions where a U.S.-based company is swallowed up by a foreign-based firm.



FULL story at link.

[djean111]

1. Not sure, but it seems as if the TPP (and TTIP) will consider labeling country of origin as

affecting profits of other countries in the trade agreements. I think that the days of Buy American may be numbered.

[Bonx]

2. I'm drinking American craft beer as fast as I can