But they wanted foreign income.
On their foreign income they paid much less.
In 2010 Mr. Romney reported $2.73 million of gross foreign income.
Indeed, total national income (including foreign income), in contrast to GDP, should increase.
Foreign income, which had helped narrow the persistent current-account deficit, started to widen it.
For Morocco, which derives much of its foreign income from tourism, the results could be devastating.
Foreign income taxes accounted for less than $1 of every $500 of total taxes paid.
It would also offer $39 billion in tax cuts on foreign income earned by American multinationals.
Such remittances account for Mexico's second-largest source of foreign income, behind oil and gas exports.
Victor Fleischer, DealBook's tax columnist, writes: "From a policy perspective, the problem is not so much that tax on foreign income is deferred, but rather that United States income is being masqueraded as foreign income".
From a policy perspective, the problem is not so much that tax on foreign income is deferred, but rather that United States income is being masqueraded as foreign income.
