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Double-Taxing U.S. Firms on Foreign Profits
Would Cost Economy 2.2 Million Jobs

From Ryan Ellis on Monday, June 8, 2009 4:55 PM
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A repeal of the rules governing the way the United States taxes the foreign earnings of U.S. companies could have dramatically adverse effects on U.S. jobs and investment and leave U.S. companies less competitive in global markets, according to a new economic report released today.

The
report, authored by Robert J. Shapiro, a former Clinton Administration economic official, and Aparna Mathur, a Research Fellow at the American Enterprise Institute, found that as many as 2.2 million American jobs could be affected by a repeal, or effective repeal, of  "tax deferral."

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Comments

This is only going to send more jobs overseas!! Furthermore, companies are less likely to make formal statements opposing the reapeal of the "Tax deferral" because they don't want to be pinned as "Un-American" for not wanting to pony up for taxes.
>> Sasha Monday, June 8, 2009 5:09 PM Report Comment

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