Sreenivasan all that and more, on tonights pbs newshour. Major funding for the pbs newshour has been provided by love me tender love me true we can like many, but we can love only a precious few. Because it is for those precious few that you have to be willing to do so very much. But you dont have to do it alone. Lincoln financial helps you provide for and protect your financial future, because this is what you do for people you love. Lincoln financial youre in charge. Fathom travel Carnival Corporations small ship line. Offering sevenday cruises to three cities in cuba. Exploring the culture, cuisine and Historic Sites through its people. More at fathom. Org. Bnsf railway. Genentech. Supported by the john d. And catherine t. Macarthur foundation. Committed to building a more just, verdant and peaceful world. More information at macfound. Org and with the ongoing support of these institutions this program was made possible by the corporation for public broadcasting. And by contribution
Sreenivasan all that and more, on tonights pbs newshour. Major funding for the pbs newshour has been provided by love me tender love me true we can like many, but we can love only a precious few. Because it is for those precious few that you have to be willing to do so very much. But you dont have to do it alone. Lincoln financial helps you provide for and protect your financial future, because this is what you do for people you love. Lincoln financial youre in charge. Fathom travel Carnival Corporations small ship line. Offering sevenday cruises to three cities in cuba. Exploring the culture, cuisine and Historic Sites through its people. More at fathom. Org. Bnsf railway. Genentech. Supported by the john d. And catherine t. Macarthur foundation. Committed to building a more just, verdant and peaceful world. More information at macfound. Org and with the ongoing support of these institutions this program was made possible by the corporation for public broadcasting. And by contribution
Need to leave. Any comments on that. Steve, do you want to start . Sure, i can address that. I do not think shifting to a territorial system is right. The two problems that weve highlighted here are earning stripping and the deferred accumulated earnings of these controlled foreign corporations. If we shift to a territorial system in which a u. S. Company is only taxed on its u. S. Source income, and not taxed on its foreign income, there will be all the more incentive for multinationals to strip income from the u. S. Base and shift it abroad. Isnt that the first step and then you deal with all those issues let me finish my answer. So as part of any consideration of territorial, we need to address the earnings stripping issues that were discussing here. One of the observations professor shay made in his article, he wanted treasury to adopt regulations that could fold into tax reform and weve got to address earning stripping and we have to do it sensibly and i think we could fold that i
Tax rate of those companies to be reduced. And thats why were talking about this subject. So it appears that having a bow tie is not an indication of prof sor yal stature but tax planning. John, you started us off by talking about the fact that your view, this set of practices were a symptom of a larger set of drivers in the Corporate Tax structure and that ultimately and i think you wouldnt get any disagreement with anyone here we need to be addressing those larger drivers. But in the context of the current debate, first of all, can i ask you to ask would the measures that steve and steve have put on the table be effective and then we can go beyond that to say should treasury take it. Lets start with the effective. So the answer is i dont think so. But theres an overarching point before i get back into the weeds which is why are we trying to raise the bar so it will be harder for companies to leave the United States. Why arent we trying to do something to make it more attractive for t
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