Tax Insanity

Forest Laboratories is going to great lengths to avoid paying US income taxes - legally. I suspect that many people that read this article will be out-raged at the lengths this company is going to and the cost of the lost taxes on the federal budget. My takeaway is somewhat different. The fact that a company would incur such complexity and cost to avoid taxes (and the fact that the tax code is complex enough to allow these loopholes) tells me we are over taxing business. Just think of all the creative energy and money that we could save by lowering taxes and reducing the complexity of the tax code...business could increase investment, cut prices, improve efficiency, and/or hire more workers. All of which are better for the economy and the federal budget in the long-term than simply collecting that money in the form of taxes....think about it.