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The reason why companies went over seas was to make more profit, right? Well Obama wants to remove the tax breaks from companies that went over seas and wants to raise taxes on 250k+... How will this keep more jobs in the US? This will give companies MORE incentive to move operations over seas.
The reason why companies went over seas was to make more profit, right? Well Obama wants to remove the tax breaks from companies that went over seas and wants to raise taxes on 250k+... How will this keep more jobs in the US? This will give companies MORE incentive to move operations over seas.
Wait, didn't you hear...joe gaffe-a-minute biden lowered that figure to $150,000 yesterday...hold on to your wallets, middle class, your taxes will go through the roof if barry slinks into office. Guess taxes aren't just for the wealthy anymore.
The reason why companies went over seas was to make more profit, right? Well Obama wants to remove the tax breaks from companies that went over seas and wants to raise taxes on 250k+... How will this keep more jobs in the US? This will give companies MORE incentive to move operations over seas.
How does removing tax breaks for companies going overseas encourage companies to go overseas?
The companies that go over seas make enough money to be effected a lot by Obamas tax policy(think $millions$). This in turn, seems like they will want to go over seas to NOT be effected by his tax raises... I could be all wrong, but it kind of seems like common sense.
Wait, didn't you hear...joe gaffe-a-minute biden lowered that figure to $150,000 yesterday...hold on to your wallets, middle class, your taxes will go through the roof if barry slinks into office. Guess taxes aren't just for the wealthy anymore.
Simple, get rid of the tax loopholes that reward unpatriotic businesses:
The U.S. has one of the highest corporate tax rates in the world, and its corporate tax code has a well-earned reputation for complexity. But despite the high rate, the U.S. takes in less annual revenue from corporate taxes, measured as a percentage of economic output, than almost all other major economies. Part of the explanation for that shortfall is the allowance for corporations to postpone taxes on foreign income.
"The problem is the company gets to deduct the cost of doing business right away, but they don't have to pay tax on the profits until they bring them back," says economist Jason Furman, director of The Hamilton Project in Washington, D.C.
The deferral clause has been in the tax code for more than half a century and has outlasted numerous reform efforts."
Simple, get rid of the tax loopholes that reward unpatriotic businesses:
The U.S. has one of the highest corporate tax rates in the world, and its corporate tax code has a well-earned reputation for complexity. But despite the high rate, the U.S. takes in less annual revenue from corporate taxes, measured as a percentage of economic output, than almost all other major economies. Part of the explanation for that shortfall is the allowance for corporations to postpone taxes on foreign income.
"The problem is the company gets to deduct the cost of doing business right away, but they don't have to pay tax on the profits until they bring them back," says economist Jason Furman, director of The Hamilton Project in Washington, D.C.
The deferral clause has been in the tax code for more than half a century and has outlasted numerous reform efforts."
Yes. But Obama wants to tax corporations MORE... That in turn will make them go else where... There was a discussion about this some where else and most of the people agreed that business will continue to go over seas..
The companies that go over seas make enough money to be effected a lot by Obamas tax policy(think $millions$). This in turn, seems like they will want to go over seas to NOT be effected by his tax raises... I could be all wrong, but it kind of seems like common sense.
The common sense part to me is that removing the tax breaks for companies going overseas would encourage them to stay here.
Or at least bring in more tax revenue from companies that have already gone overseas.
Its been discussed somewhat already (though largely ignored by those who defend large corporations), but there's a ton of evidence that large corporations pay little or no taxes.
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