CSPAN2 U.S. Senate August 17, 1215
Overseas profits. So under the new plan that reportedly is emerging, corporations will have a 21 u. S. Tax rate. But if you move your business or company overseas, its zero, not 21 just like today those corporations that move their businesses overseas will have to pay taxes to those foreign governments on the profits they make overseas. But lots of those corporations can shift those profits to parts of the world where theres zero income tax liability. And republicans in the house and senate claim that they solve this problem by going to a minimum tax on certain foreign profits. And heres how o...