Submission to Senate Finance Committee - Why a Residence-Based System Is Far Better for Our Country than a Territorial System that Provides a Continuing Preference to Foreign Income

Kadet, Jeffery M.

doi:10.2139/ssrn.3053367

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Submission to Senate Finance Committee - Why a Residence-Based System Is Far Better for Our Country than a Territorial System that Provides a Continuing Preference to Foreign Income

7 Pages Posted: 16 Oct 2017

See all articles by Jeffery M. Kadet

Jeffery M. Kadet

University of Washington - School of Law

Date Written: October 13, 2017

Abstract

This concise submission shows that from many tax policy standpoints a residence-based tax system would be significantly better than a territorial-based tax system. Policy issues mentioned include:

- competitiveness,

- broadening of the tax base so the rate can be lowered,

- domestic job loss,

- neutrality of physical location and legal ownership of assets,

- simplification, and

- trapped cash problem.

Keywords: International Tax, Corporate Tax Reform, Tax Reform

JEL Classification: H21, H25, K34, E62

Suggested Citation: Suggested Citation

Kadet, Jeffery M., Submission to Senate Finance Committee - Why a Residence-Based System Is Far Better for Our Country than a Territorial System that Provides a Continuing Preference to Foreign Income (October 13, 2017). Available at SSRN: https://ssrn.com/abstract=3053367 or http://dx.doi.org/10.2139/ssrn.3053367