And the idea of taxing at a higher rate corporations who build plants outside the U.S.? That's going to be a mess.
Of course, that's not the actual rate corporations pay.
As you can see below, the actual tax rate corporations paid on their profits has been declining significantly in recent years, and is nowhere near 35percentt.
In fact, while the U.S. has a high official rate, corporations use deductions and other credits to pay considerably less than that ― in many cases enjoying a lighter burden than foreign competitors.
Both men had been led to believe that Murdoch and Salmond floated the possibility that if Salmond won the independence referendum and introduced a cut-rate corporation tax, then Murdoch could relocate BskyB's headquarters to Scotland.
The island has enjoyed 21 years of continuous growth, has reduced unemployment from 12%to1.4%4%, increased GDP from 54% of the UK's to 110%, and managed to shake off its reputation as an offshore tax haven while offering zero-rate corporation tax.
It is home to Georgios Karvouniaris, 61, and his sister Barbara, 64, two Greeks for whom all the Brussels wrangling over VAT rates, corporation tax and pension reforms has meant nothing – because they have nothing, no income of any kind.
Since the last reduction in United States corporate tax rates, in 1986, other nations have reduced their own business rates; corporations complain this is putting them at a sharp competitive disadvantage.
Our department's revenues fed into one big pot, together with those from other activities – Moody's rates corporations, countries, derivatives and many other things.
She said most rated corporations there would be able to withstand a nine-month recession in America, but if it were to stretch to 12 months or more, there could be serious problems.
