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Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,835,178 times
Reputation: 6438
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Quote:
Originally Posted by sanrene
Romney's policies are not in effect. Obama's are though and the job creators understand he is anti-business.
What job creators, specifically? Name some names. So we can investigate your claim.
Os is this just "common knowledge" and we should "do some research."
What job creators, specifically? Name some names. So we can investigate your claim.
Os is this just "common knowledge" and we should "do some research."
Why, so the far left can excoriate every business owner like they are doing to Chick-Fil-A?
Here's the key excerpt from the CAP briefing: The former Massachusetts governor would make U.S. corporations’ overseas profits exempt from U.S. taxes. These profits are already treated favorably under the tax code compared to corporate profits that are earned and reported domestically, creating an inefficient bias toward investment offshore. The favorable treatment of profits that are reported offshore also creates rewards for corporations that shift profits (on paper) out of the United States to foreign countries, including tax havens such as Bermuda and the Cayman Islands.
This is a really twisted way to note that the Democrats want to preserve the United States as THE ONLY major developed country that taxes domestic corporations on profits earned and taxed overseas. Why should the US get a slice out of German workers at locations in Germany producing for the German market...just because the owner of the location has a US address?
And it explains why vast numbers of companies have domiciled elsewhere, moving their headquarters away from the US. This trend is already accelerating even in medium-sized businesses.
If the Dems retain influence in Washington, I hope they ask the last producer to leave to please turn out the lights...if there are any left burning when the EPA gets done.
For all the posters who have written that corporations all use loopholes to avoid all taxes, have you noticed Obama's penchant for wanting to add new complexities to the ridiculous tax code instead of throwing all the garbage out and going for a level playing field? How much more satisfying it must be to pick winners and losers, pass out favors to friends and punishment to enemies, via the heavy hand of an incomprehensible tax code.
Location: Georgia, on the Florida line, right above Tallahassee
10,471 posts, read 15,835,178 times
Reputation: 6438
Quote:
Originally Posted by lifelongMOgal
Why, so the far left can excoriate every business owner like they are doing to Chick-Fil-A?
Ya'll are bullies through and through.
Was the part where I defended his relgious rights and praised him for being true to his beliefs - it's not one I believe in, but hey, religious freedom is regious freedom, he can think what he wants, and support who he wants - is that the part that I'm bullying him on?
Look at how I was BULLYING him back in 2009.
********************************** 08-05-2009, 10:41 PM
If I heard Chik-Fil-A was going under, I'd actually donate to keep them alive. I might even run a campaign to keep them alive. I am not a religious man, but I can admire a person who runs his company with morals and dignity.
-70Ford Restaurants Burned By Deep Discounts
At least you know he's firm in his beliefs and what he stands for. Romney? Not so much.
Romney has stated a 25% rate. A link from the AFL-CIO is automatically discredited. Right now, under obama, we have the highest corporate tax rate, which is one reason corporations look overseas to create jobs and invest.
I guess that is true if you believe that companies actually pay that corporate tax rate and don't use any credits or tax loopholes to lower that number they pay. I do agree that the corporate tax should be much lower, but loopholes need to be gotten rid of so that all corporations pay that same rate.
While today’s current corporate tax laws offer tax incentives to firms that move jobs overseas, companies still face some U.S. tax obligations on their foreign profits. But Romney’s proposal would completely exempt all overseas profits by American companies from U.S. taxes. That would, writes Seth Hanlon, CAP’s director of fiscal reform, “exacerbate the worst features of our current tax system.” Romney’s tax-free scheme would:
Enhance the tax code’s rewards for moving jobs and investments overseas;
Provide a gratuitous windfall to some of the very companies that have already shifted jobs and profits overseas; and
Further invite the offshore tax haven abuse that deprives the U.S. Treasury of tens of billions of dollars in revenue every year.
What are we talking about in windfall dollars? According to Hanlon, exempting overseas profits from tax would provide a tax cut for multinational corporations of $130 billion over 10 years. When combined with Romney’s proposal to slash the top corporate rate from 35 percent to 25 percent, which would cost more than $900 billion, it pushes the total corporate tax cuts in the Romney plan to more than $1 trillion.
Repatriating the US corporate funds that remain overseas, due to high US taxes, is a great idea. It would infuse over $1 trillion in capital to the US, which is sorely needed.
The amount of funds that can be repatriated would equal that of Obama's "stimulus", only this time the money would not cost the tax payers a dime and would be in the responsible hands of business, not the government or Obama's hand selected lackies.
Explains how the US tax system IS unfair to businesses and how it makes less jobs in America.
However, it doesn't call for a "Zero tax." It calls for lower taxes that will encourage people to buy American products and not move their businesses out of the USA to a foreign country.
So it kind of 1/2 supports Romney's plan. And it's understandable.
I guess that is true if you believe that companies actually pay that corporate tax rate and don't use any credits or tax loopholes to lower that number they pay. I do agree that the corporate tax should be much lower, but loopholes need to be gotten rid of so that all corporations pay that same rate.
Another issue Romney wants to tackle and another broken promise by obama. Tax code reform.
I don't agree with corporations like GE, Apple, etc getting any kind of taxpayer subsidy.
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