FedEx’s Fred Smith says don’t tax foreign income — but treat U.S income even better. Instead of taxing corporations, government should subsidize corporations?
‘”Smith . . . calls for a ‘territorial tax system,’ which would tax only domestic, rather than worldwide, income, bringing U.S. practice in line with most other rich countries’.” http://www.time.com/time/magazine/article/0,9171,2119336,00.html#ixzz21lFGEgwt