Facebook and IRS Prepare for $9 Billion U.S. Tax Court Fight

Editor’s Note: Adopt Sales Factor Apportionment taxation and this tax litigation becomes irrelevant. Because internal profit shifting becomes irrelevant. Simply tax MNC global profit in proportion to sales occurring in US. Ignore subsidiaries. Government challenges social-media giant’s transactions with its Irish subsidiary [Richard Rubin | February 8, 2020 | WSJ] Facebook Inc. FB 0.03% and the…

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Press Release | CPA Applauds New Commerce Department Currency Manipulation Rules

Long-overdue rule says currency undervaluation is a trade subsidy Washington. The Coalition for a Prosperous America (CPA) today stated its appreciation for a new Department of Commerce rule that would impose countervailing duties on imports benefiting from foreign currency undervaluation. CPA has long supported such action and was a key advocate for House and Senate…

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CPA Statement on 2019 Trade Deficit Decline

U.S. Trade Deficit Declines in 2019 China trade gap falls significantly due to tariffs Washington. Federal data released this morning show that America’s enormous international trade deficit in goods and services fell in 2019 for the first time in six years. According to the U.S. Commerce Department, the trade deficit dropped 1.7 percent to $616.8…

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Jeff Ferry: China pilfering costly US medical research from labs, universities

Excerpt: A new FBI investigation has revealed, China is even attempting to steal medical and biological property from U.S. labs and hospitals. Americans have become increasingly familiar with China’s aggressive theft of U.S. intellectual property. Whether it’s Huawei stealing trade secrets from T-Mobile or a Chinese aviation company stealing the designs of 13 different aerospace companies,…

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DHS to announce major counterfeit bust

Editor’s note.  This Fox News clip with Peter Navarro describes an important new initiative to stem the flood of counterfeit goods into the US. It also calls into question the longstanding program of allowing small international mail items into the country tariff-free.  Acting Customs and Border Protection Commissioner Mark Morgan and assistant to the president…

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China’s Quest for Capital: Motivations, Methods, and Implications

Editor’s note: The US China Economic & Security Review Commission had a very important hearing showing why we should not be seeking greater financial integration with China. Here is the video of that hearing.  AGENDA | Hearing on “China’s Quest for Capital: Motivations, Methods, and Implications” [January 23, 2020 | USCC.gov] 9:15 AM – 9:20 AM:             …

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