“Germany, a territorial tax country where wage levels are higher than in the U.S. and which has the highest job-creating 12-month trade surplus in the world of $248.5 billion, has its record lowest unemployment rate in 21 years. Germany doesn’t subject its citizens living abroad on top of the tax they pay their host countries, so Germans relocate abroad and capture foreign markets. Americans, unable to survive this double taxation, stay home, and the U.S. continues to lose export market share. The ‘fruits’ of the U.S. world-wide tax systems are a $721.8 billion 12-month world-trade deficit and $315 billion trade deficit with China.”
Posted on: Sat, 10 Aug 2013 03:21:22 +0000
Trending Topics
Recently Viewed Topics
© 2015