https://www.thelayoff.com/post/@OP+1m4ymkqw4
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Tax revenues could shrink quickly if companies ditch human workers altogether for AI.
HIRE Act is fundamentally a residence-based tax proposal. It cannot, for example, penalize Swiss companies for payments to German engineers. It can only penalize US companies sometimes called US persons or US-resident companies.
The problem with adding too many residence-based criteria to a tax system is that it encourages inversions. Essentially, if HIRE applies to US companies, but not Swiss companies, then why not choose to be a Swiss company instead?
https://taxfoundation.org/blog/hire-act-outsourcing-tax-global-business/
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