>... pretty soon, you're talking real money.
>
>http://www.businessinsider.com/r-obama-proposes-14-percent-tax-on-us-companies-untaxed-foreign-earnings-2015-2
>
>A 14% ( $280B ) grab now (with no foreign tax-paid credits), then 19% henceforth on foreign earnings (less "credits" for foreign tax paid, adjustable by fiat).
>
>A very clever move, whether one agrees with it or not:
>
>- Helps balance the budget with immediate cash injection (yum!)
>
>- Could very well hurt employment at overseas subsidiaries but won't hurt Americans. Might even boost American employment a bit; if the only reason American companies have foreign subsidiaries is for tax purposes, and that advantage goes away, jobs could be repatriated
>
>- Makes US more "competitive" from a taxation standpoint without having to lower rates

As long as those US companies stay in the US - yes, seems logical.
Dirty mind quickly conjures schemes like founding overseas company, "Buying" US company with own (foreign) shares and setting up foreign parentcompany-owned daugther companies to keep foreign earnings untaxed by the US. Don't see how the US could try to tax such a structure within current tax logic.

>
>Hard for the GOP to argue (rationally) against any of that.