I wonder what this will mean for multi-national companies? I'm guessing companies like Cisco will move off shore completely.
---
"Cisco would be adversely affected if tax deferral was implemented by
the U.S.," said Cisco spokesman John Earnhardt. "If rules are changed
on tax deferral and we are taxed in the U.S. on non-U.S. profit, this
significant additional U.S. tax would adversely impact our ability to
invest and grow our business in the U.S. and to compete against our
foreign competitors who are not subject to this U.S. tax."
---
http://abcnews.go.com/Business/Economy/story?id=7499323&page=1
------------------------
Keith Smith
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