A blog post

Selected Tax Increases in the 2011 White House Budget

Posted on the 02 February, 2010 at 10:48 pm Written by in News, Taxes

My favorite is “reform the U.S. international tax system.”

US multinationals operate on a worldwide tax regime. This is quite unusual; most countries do not tax their multinationals in this manner. In most countries, the corporation pays tax on income generated within the borders of that country. The US disregards borders – for the most part. 

Granted the US scheme is somewhat offset by the foreign tax credit, but in turn that is offset by the CFC scheme, on and on…

                 WSJ Chart