Latin King Essay

892 words - 4 pages

Zoila VegaKim SmithDoug DiChiaraMike Garbowski Jessica GilbertMini Case # 2August 25, 2014Define and discuss what an inversion is and the effects it can have on the U.S. Economy.(3 points)Tax inversions are a form of tax avoidance. They are driven by several factors, but the most prevalent factor is that the U.S. tax code seeks to impose income tax on profits earned abroad by American corporations.An inversion occurs when a company based in one country purchases a corporation based in another country and relocates its headquarters there in order to save on the amount of taxes it pays. A company will re-incorporate in a different country so that it can take advantage of lower tax rates on income earned abroad, which is taxed at a lower rate than income earned domestically.When companies elect to take this route it leaves a negative impact on the U.S. economy. This would result in the loss of many jobs which would be moved abroad, as well as a large reduction in the amount of tax that it contributes to the government. The federal government would have a reduction in tax income because the company would be incorporated abroad and treated as a foreign company as opposed to a domestic one. The government would most likely have to make up for this loss in income by selling more bonds, raising taxes, or cutting the federal budget.What will be the most likely effect on Treasury Bills? Explain your answer by drawing the demand/supply curve for Treasury bills and how their price will most likely be affected. You will need to fully explain your answer. (3 points)Rs1RS2FederalFunds Rate2Iff21Iff1Rd1Quantity ofReserves, RNBR1NBR2The effect of an inversion will cause the Supply of Federal Reserves to decrease. This would be a leftward shift in the Number of reserves and a decline in the federal funds rate. The increase in the federal funds rate will cause an increase in the price of treasury bills. The new equilibrium point will be located at a higher federal funds rate, a lower quantity of reserves with a higher price.If the U.S. Government were to reduce the corporate income tax rate as an incentive to stop inversions, would your answer in question 2 be different? You will need to fully explain your answer. (2 points)Answer in question 2 would not change due to the lack of probability that this would ever happen.The U.S. corporate statutory tax rate is higher than that of the 15 largest economies in the world. This has led many to assert that the U.S. statutory tax rate needs to be lowered to reduce the incentive for inversion transactions. While lowering the corporate tax rate would reduce the incentive to invert, there are reasons to suggest that it would be impractical...

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