Actually what it means that, while BK will have to 35% on revenues in the US, it will not have to pay taxes to the Federal government on earnings overseas, that were already taxed!
It is a good move.
Want to bring them back? Enact the Fair Tax and watch business flock back the US.
I advocate a zero corporate tax rate. You read that right, zero. You make money as a corporation, good for you. Tax it only when you pay it out to individuals as dividends. Look, a corporation makes money, pays corporate income tax. Then it distributes that income to shareholders, and, guess what - taxed again. We should be encouraging business in this country, not penalizing it. Corporate tax rate to zero and get out of the way as the economy skyrockets.
Actually what it means that, while BK will have to 35% on revenues in the US, it will not have to pay taxes to the Federal government on earnings overseas, that were already taxed!