At a time when major U.S. corporations have a record amount
of cash stashed abroad, a group of influential CEOs want to make it even easier
for companies to pay less in U.S. taxes on those profits, HuffPo reports.
The Business Roundtable, a lobbying coalition of business
leaders, plans to spend six figures on a campaign aimed at convincing lawmakers
to lower the top corporate tax rate to 25 percent from 35 percent and shift to
a territorial tax system, according to The Hill. The group argues that the
changes would help U.S. companies compete against their foreign counterparts.
A territorial tax system allows businesses to put money
overseas and only pay taxes to the foreign country where it’s parked. Currently
companies pay U.S. taxes on any overseas profits they bring back home….
How can you not feel sorry for these poor guys? Go to http://www.huffingtonpost.com/2013/03/19/business-rountable-offshore-profits_n_2906788.html?utm_hp_ref=business
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