Stay updated with breaking news from Danielj Mitchell. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
A "territorial" tax system that taxes only income earned insidenational borders would allow U.S.-based companies to compete on alevel playing field with foreign competitors, particularly ifaccompanied by a significant reduction in the corporate tax rate.If Congress lacks the political will to engage in fundamentalreform, it should at least go as far toward a territorial taxsystem as possible.
BG1093: How a Flat Tax Would Affect Charitable Contributions
(Archived document, may contain errors) 7/11/90 273 SOLVING THE DEFICIT PROBLEM: A TAX LIMITATION/BALANCED BUDGETAMENDMENT
A destination-based sales tax cartel would be bad for taxpayers. Itwould damage competition and privacy, erode fiscal discipline, andlead to higher tax burdens. It would threaten personal privacy byallowing third parties to examine financial transactions and buyingpatterns. And it would harm the President's ability to defendAmerica's economic interests when dealing with Europe's welfarestates.