Posted by toddcommish on 6/25/2014 11:26:00 AM (view original):
And lowering (or eliminating) corporate taxes will keep some of those businesses in the US rather than fleeing to other countries with more corporation-friendly tax laws, which means MORE jobs which means MORE tax revenue.
Liberals always seem to miss that point when crying for higher corporate taxes.
From the FAQ.
How does this affect U.S. competitiveness in foreign trade?
Because the FairTax is automatically border adjustable, the 17 percent competitive advantage, on average, of foreign producers is eliminated, immediately boosting U.S. competitiveness overseas. American companies doing business internationally are able to sell their goods at lower prices but at similar margins, and this brings jobs to America.
In addition, U.S. companies with investments or plants abroad bring home overseas profits without the penalty of paying income taxes, thus resulting in more U.S. capital investment.
And at last, imports and domestic production are on a level playing field. Exported goods are not subject to the FairTax, since they are not consumed in the U.S.; but imported goods sold in the U.S. are subject to the FairTax because these products are consumed domestically.