If U.S. taxing authorities did not limit the amount of the foreign tax credit to the equivalent amount of the U.S. tax

Question

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If U.S. taxing authorities did not limit the amount of the foreign tax credit to the equivalent amount of the U.S. tax, taxpayers would arguably subsidize part of the tax liabilities of U.S. MNC's foreign earned income. This would cause a burden on the U.S. economy and taxpayers.

If US Taxing Authorities Did Not Limit the Amount of the the Foreign