Reciprocity Is a Misguided Response to U.S. Economic Strength
A recent push for “reciprocity” in international taxation has gained traction, based on the claim that American companies pay disproportionately high taxes abroad while foreign firms pay far less in the United States. “US firms paid $370 billion abroad in value-added and income taxes,” White House economist Kevin Hassett recently noted, “whereas multinational firms operating […]