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replied 2388d
- around the world is because the US is the only country in the world that has jurisdiction around the whole world to tax income and capital gains in other countries. So the total -
replied 2388d
tax base is global - that is only the case for the US, which is why the American Tax Payers are not the only people funding the US Government. Remove the US ability to tax abroad -
replied 2388d
- and it will be the case that the US tax payers in US itself becomes the only creators of tax revenue.
replied 2387d
do you mean irs's ability to tax citizens abroad? that seems like a small group. or are you talking about taxes on companies?
replied 2387d
Mostly companies and industry that is based in the US but operates abroad, the companies of course use every method in the book to reduce and delay tax payments, but they folow the law
replied 2387d
ok wow. didn't know US tax base was so broad or global. & other countries dont do this too?
replied 2387d
Only the US, The US has about the same GDP as all the other G7 nations combined, and they project superior militarily power over all international water and is an invaluable market.