There are many
stupid laws the U.S imposes on the international activities of U.S.
Business.
One that is disastrous is a tax on the earnings made on business done completely out of the country, something others do not as a rule impose. That’s a subject for another day.
My attention today is on the Foreign Corrupt Practices Act, or FCPA, which makes it a serious crime for an American citizen to offer a “bribe” to do business in another country where you cannot do any semblance of business without such “incentives” to each and every official who issues countless business permits.
One that is disastrous is a tax on the earnings made on business done completely out of the country, something others do not as a rule impose. That’s a subject for another day.
My attention today is on the Foreign Corrupt Practices Act, or FCPA, which makes it a serious crime for an American citizen to offer a “bribe” to do business in another country where you cannot do any semblance of business without such “incentives” to each and every official who issues countless business permits.
So, if the U.S. decides it wants to eliminate much of its export business around the world where “business gifts” are local tradition, fine. Americans ought to show they are above all that while keeping up with domestic law imposed by American do-gooder legislators.
It’s a way to keep American executives out of American jails, and also our U.S. dollar to remain even weaker. Perhaps some day so weak it will not be a convertible world currency and our dollar will be really mere paper.(See the Earl J. Weinreb NewsHole® comments.)
No comments:
Post a Comment