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Old 11-15-2011, 12:19 PM
 
12,439 posts, read 9,962,642 times
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Forget tariffs. How about we tax corporate profits based on the number of foreign made products that they sell. An example, New Balance Tennis Shoes. I don't know the total amount they they produce overseas, but it is a lot. SOme of the shoes are produced here. Take the percentage produced over there and say it is 60%. divide in half and then tax the profit by 30%. I say divide it in half because we need to tax the retailers the other half. Take Walmart for example if 80% of their products come from overseas tax their profits at 40% if they are produced from American company, and 80% if produced by foreign country.

If a company sells only american made products. 0% tax on profits. If a retailer sells only american made products, 0% tax on profits. That should level the playing field and produce more jobs.

Just a thought.
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Old 11-15-2011, 12:21 PM
 
386 posts, read 178,499 times
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Quote:
Originally Posted by hotair2 View Post
Forget tariffs. How about we tax corporate profits based on the number of foreign made products that they sell. An example, New Balance Tennis Shoes. I don't know the total amount they they produce overseas, but it is a lot. SOme of the shoes are produced here. Take the percentage produced over there and say it is 60%. divide in half and then tax the profit by 30%. I say divide it in half because we need to tax the retailers the other half. Take Walmart for example if 80% of their products come from overseas tax their profits at 40% if they are produced from American company, and 80% if produced by foreign country.

If a company sells only american made products. 0% tax on profits. If a retailer sells only american made products, 0% tax on profits. That should level the playing field and produce more jobs.

Just a thought.
And a silly one at that!!!!

How about we reduce the tax burden on the economy by first reducing corporate tax rates to bring them in line with other first-world nations?

Now THAT is an idea!!!!
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Old 11-15-2011, 12:29 PM
 
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Quote:
Originally Posted by Lahaina Lopaka View Post
And a silly one at that!!!!

How about we reduce the tax burden on the economy by first reducing corporate tax rates to bring them in line with other first-world nations?

Now THAT is an idea!!!!
Hey I said bring the ones that produce American made products to ZERO. You conservatives should be jumping on that.
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Old 11-15-2011, 12:31 PM
 
Location: Here
10,833 posts, read 11,578,864 times
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Great idea. That should workout great for the poor and middle class who depend heavily on the likes of discounted goods provided by WalMart, Target, etc.
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Old 11-15-2011, 12:31 PM
 
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Imagine the federal regulatory agency that will have to be created to inspect the inventory of US companies and track the movements of their products in order to ensure compliance.
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Old 11-15-2011, 12:32 PM
 
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That's the same as tariffs basically.
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Old 11-15-2011, 12:33 PM
Status: "MAGA" (set 15 days ago)
 
Location: New Jersey
10,515 posts, read 6,007,892 times
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As pointed out, this would be the same as tariffs, other countries would just do the same. Plus, Walmart would never allow it!
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Old 11-15-2011, 12:34 PM
 
Location: Holly Springs
3,861 posts, read 9,284,823 times
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Corporations do not pay taxes, their consumers pay them via higher prices. Why is that such a difficult concept to grasp? Tax corporations at 10% across the board with no loopholes or deductions and watch this economy roll.
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Old 11-15-2011, 12:35 PM
 
Location: Murika
2,526 posts, read 2,505,826 times
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Alright, so I am US company which, for financial reasons, produces outside of the US. It decreases my operating costs, allows me to sell my products at a lower price point, and maximizes my margins. Now, I get taxed on products that I produce abroad, significantly decreasing my margin, pushing up my prices, and costing me market share compared to a competitor who happens to be a foreign company.

You know what I will do? I will move my entire company abroad and escape your silly taxes altogether. You can't tax me anymore because I am not under your jurisdiction. My (now) imported products are simply subject to regular sales tax - just like any other product. In essence, your proposal would punish US companies but leave foreign companies unaffected...

Now you don't get any taxes and you lose jobs.

And no, it's not the same as tariffs. Tariffs are charged on ALL products made abroad, thereby affecting foreign companies negatively. The proposed idea would only charge US companies simply because you cannot tax a company that is not subject to your jurisdiction. As the OP said, he wants to tax corporate profit...
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Old 11-15-2011, 12:36 PM
 
12,439 posts, read 9,962,642 times
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Originally Posted by 01Snake View Post
Great idea. That should workout great for the poor and middle class who depend heavily on the likes of discounted goods provided by WalMart, Target, etc.
As I recall, and I am old enough to recall. Walmart sold inexpensive products at one time there were mostly american made. Then Sam died and things went to crap. How was he able to do it then, and not now?
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