Video: How To Tax Multinationals Hiding Behind The Tree? Use The Mighty U.S. Consumer
By Clip Syndicate
Bill Parks, a retired finance professor and founder of NRS, Incorporated, an Idaho-based paddle-sports accessories maker with $30 million plus in annual sales, has been promoting an idea for taxing the profits of multinational corporations that he borrowed from the states. Simply put, the IRS would determine the share of a company’s earnings taxable in the U.S. based solely on the share of its sales made to U.S. consumers, the biggest spenders in the world. If you buy a new iPhone, you’d raise Apple's U.S. tax bill. Buy a Galaxy S5 and Samsung would pay the IRS. No more Senate hearings on the aggressive techniques used by Apple, HP or Microsoft to shift profits abroad. No more fights about the location of intellectual property.