General Discussion
In reply to the discussion: To Survive, the Democratic Party Needs to Stand Up to Wall Street and Global Corporations [View all]JHan
(10,173 posts)But tax code. I can't imagine any trade partner agreeing to that...
This is a home problem. The tax code needs to be reformed and stripped of corporate welfare. For tax purposes, a company operating mainly from the States should still be listed as "American" and only considered foreign if over 50% of its ownership actually is foreign - on this I agree with Citizens for tax Justice. I also agree with Sanders who suggested barring companies that engage in this type of behavior from lucrative government contracts.
And even though I agreed with Obama wanting to lower the corp tax rate to 28% , anything lower than 20% is a race to bottom , bottom meaning a significant reduction from individual tax income revenues through income reclassification. Point is, the solution is our tax code has to tackled at home (and looking at the competing rates state by state)