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What is the Best Way to Get Corporations To Bring Their Money Back to America?

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    I'm not really interested in arguing about the politics behind offshore tax shelters that corporations and other wealthy individuals use, but I am interested in discussing ways that would entice these companies and individuals to bring some of their money back to America. There has to be a way that we can bring it back to America without making it too difficult for these companies bottom lines.

    My thoughts on the issue is that we could offer a special tax holiday for the individuals or companies who choose to bring their money back to America. The holiday would only last for a specific amount of time, so the company wouldn't be able to drag their feet forever. I would much rather see the money being contributing to the American economy than somewhere else.

    Do you agree with me or am I too naive in thinking that companies would be willing to do something like this?
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    Special tax holiday? How would that work? Like a tax break season of a certain amount of time, where said company coming back initially doesn't pay/pays very little taxes?
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    J.K.Logic Wrote: Special tax holiday? How would that work? Like a tax break season of a certain amount of time, where said company coming back initially doesn't pay/pays very little taxes?
    I guess I mean giving them a break on the money that they bring back into US accounts. So if they bring back the money then they will owe little to nothing in taxes on the money they bring back, but they will then be penalized if they start dumping money in offshore accounts again. I'm just trying to think of ways to get them to bring the money back to the states without scaring away too many investors.

    In the grand scheme of things, we have to streamline the tax code to make it far less complicated, but also make it so companies can not take advantage of the countless loopholes currently available. A good start to that process would be encouraging the companies to bring their money back to the states without fear of a major penalty or fine, but also making sure they know it's a one time offer.
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    Anything that gets companies to start investing in America again will be fine with me. I don't blame corporations for using the tax code to their advantage, but I would love to see them bring the money they have in offshore accounts back to the States.
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    Deraj Wrote: Anything that gets companies to start investing in America again will be fine with me. I don't blame corporations for using the tax code to their advantage, but I would love to see them bring the money they have in offshore accounts back to the States.
    I agree. Using the tax code to your advantage is fine, but seeing the money come back to the US would be nice.