Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
You asked how you, the individual, would be subject to taxes in the USA if you had a foreign corporation and I answered.
Actually I asked how you the corporation, receives tax credits if you arent subject to USA taxes because you moved your jobs overseas..
Do you forget what I was responding to already?
Quote:
Originally Posted by lycos679
So far he wanted to end tax credits for companies that ship jobs overseas, provide credits for companies that bring jobs back, reduce the mfg tax rate to 25%, and lower the top corporate tax rate to 28%.
Quote:
Originally Posted by lycos679
Keep the snide remarks to yourself.
No thank you
Quote:
Originally Posted by lycos679
I already answered that. If you do not have US source income and have no ties to the USA you obviously won't owe US taxes, but you asked about US citizens and they are already subject to US taxes.
I never asked about citizens, but you just admitted that your previous statement, repeating Obamas statements, about tax cuts for moving overeas is just bull crap.
Quote:
Originally Posted by lycos679
Only if you stop doing business in the USA and only if we are not talking about a controlled foreign corporation. However, if you are not doing business in the USA, do not have US employees, and are not a CFC then your tax liability is ZERO - even if you manage the company from the USA. Special rules apply for this exemption.
Thats not true, and here lies the limited thinking capabilities of some individuals.
I could have a US Corporation established to buy products from an overseas corporation which we own, and the sole purpose of the transaction is for the US Corporation to lose money.
Example, Ford US could buy cars from Ford UK for $50,000, and then sell them for $30,000, thus making the US business having employees, and still have zero taxes, while the overseas corporation sees all the profits and pays the foreign tax rate..
Quote:
Originally Posted by lycos679
Once again, setting up a subsidiary doesn't alleviate your tax burden. A subsidiary makes it easier to engage in money laundering and if you are a multinational then you can use a subsidiary to defer taxes, but you asked about an individual. The multinationals can never bring the foreign money back, ever; not without paying US tax anyway.
One doesnt need to have a subsidy as the example above shows. They could be completely different corporations. Warren Buffet keeps all of his corporations seperate for example, Coca Cola, Dairy Queen etc, arent merged when he bought them out.
Quote:
Originally Posted by lycos679
Please explain to me why we should have the highest corporate tax rate in the world and why we should help companies move jobs overseas.
I never said we should have the highest corporate tax rate in the world.. Anyone who has read any of my postings know I"m all for lowering the rates across the board..
So far he wanted to; 1. end tax credits for companies that ship jobs overseas, 2. provide credits for companies that bring jobs back, 3. reduce the mfg tax rate to 25%, and 4. lower the top corporate tax rate to 28%.
None of these measures passed Congress though, so I don't know why he is still talking when he knows that anything he proposes isn't going to pass.
the reason the potus' stupid plan didn't pas congress, was it would do a darn thing
1. companies who offshore jobs don't get any other taxbreaks than anyone else....so point one is debunked
2. companies getting a $5 break for a job that will cost them 20K.....companies wont go for than....point 2 debunked
3.,4. reducing a rate to 25% and 28% is nothing....reduce the corporate rate to 15%(or less).....points 3&4 debunked
the potus had a stupid plan that would not have created or brought back one job
ps... even BAILOUTed GM....their ""NEW""" plant...is in mexico
??? How does someone in a menialdead-end job improve their work skills?
been answered many, many times....you refuse to listen and learn from anyone
Quote:
Quote:
Quote:
Originally Posted by freemkt View Post
I can't find full time work, I have no marketable skills and employers prefer unskilled workers half my age, plus I have student loan debt that reduces what little available money I have.
many posters to including myself and one Mod, have given you many, many suggestions and avenues of approach for fixing and helping your situation......
but all you do is give excuses of why you cant....
many have suggested the library.....but you have an excuse of why you cant
many have suggested job shaddowing...but you have an excuse of why you cant
many have suggested grants, loans, etc....you have an exuses of why you cant
all you want to do is blame someone to include your parents, but you never look in the mirror
your 50+ years old man...get with the program
but you will have an excuse...you even bragg about how you are on you way to a 2/3 SS pension and are stealing from the government by working off the books
Originally Posted by freemkt
I'm on track to get $900 a month from Social Security. Take that away and I'm in deep doo doo. Poor grandpa, that will be me in a few years.b
What's that you say, I should have saved for retirement? How much do you realistically expect people to save on a $15K income?
Quote:
Originally Posted by workingclasshero
so let's see if I get this straight
your 50 something...and supposedly UNSKILLED (at 50...really?????)
you settle for a 15k a year job
save NOTHING
and then plan on getting a 2/3 pension when you retire (900/month is over 10k a year )
btw your contributions to ss 6%...6% of 15k is 900 A YEAR
so you think it good that you contribut 900 a year (and your employeer matches it) for you to get 900/month????? how liberal of you
So because you don't think cutting taxes would bring back or create a job we should keep high tax rates?
no.....
cut ALL taxes
no one person or entity should pay more than 15%/.....period
cut corporate taxes to ZERO
giving them a 'break' to 'bring back a job'...isn't going to work
nafta and all her sisters(freetrade agreements) did just that...sent jobs overseas
today we are getting killed by all these 'freetrades'
the freetrade movement started in the 70's and has been chugging alongs, pushed by carter, by bush1(as vp and potus), bush1 even negotiated nafta, pushed by nafta signer clinton, and bush2, and obama
you can not have "freetrade" when the costs of living (and manufacturing) are so uneven
have you ever owned a business....you make ECONOMIC DECISIONS based on SMART MOVES
example:
you NEED a warehouse for your product (not a showroom where location,location,location is a factor)
nassau county you can get a 200,000sf warehouse that will cost you 30k a month
suffolk county you can get a 300,000sf warehouse that will cost you 20k a month.....
where do you think you are going to go for a warehouse....suffolk
GE (makes alarm clocks) it is CHEAPER for GE to make(assemble) an alarm clock in mexico and SHIP it to the USA than it is to make it in the USA(why...costs....wage costs, utility costs, land costs...and CORPORATE TAX COSTS)
you want jobs to come back to the USA...then we need to make it MORE costly for them to ship their product IN than to make it here....lower or even better ELIMINATE the corporate tax..and install import tariffs
one of the biggest problems is taxes to begin with
and not enough import tarrifs, to curb the cheapness of importing into
think about it,,, you have a business, and need to open a ware house:
do you open a warehouse in a city, county, state, or country with a high CORPORATE tax rate or a low tax rate
do you open a warehouse in a city, county, state, or country with a high PROPERTY tax rate or a low tax rate
do you open a warehouse in a city, county, state, or country with a high INCOME tax rate or a low tax rate
do you open a warehouse in a city, county, state, or country with high COST OF LIVING (housing costs, etc) or a low COL
do you open a warehouse in a city, county, state, or country with a high wage expectation, or a low
do you open a warehouse in a city, county, state, or country with high utility rates or lower rates
bet you say low for all those questions
the freetrade agreements (theres like 26 since nafta) nafta/cafta and obamas OFTA (freetreade with oman) is what has caused 45 million jobs to go overseas
one of the biggest problems is taxes to begin with
and not enough import tarrifs, to curb the cheapness of importing into
think about it,,, you have a business, and need to open a ware house:
do you open a warehouse in a city, county, state, or country with a high CORPORATE tax rate or a low tax rate
do you open a warehouse in a city, county, state, or country with a high PROPERTY tax rate or a low tax rate
do you open a warehouse in a city, county, state, or country with a high INCOME tax rate or a low tax rate
do you open a warehouse in a city, county, state, or country with high COST OF LIVING (housing costs, etc) or a low COL
do you open a warehouse in a city, county, state, or country with a high wage expectation, or a low
do you open a warehouse in a city, county, state, or country with high utility rates or lower rates
bet you say low for all those questions
the freetrade agreements (theres like 26 since nafta) nafta/cafta and obamas OFTA (freetreade with oman) is what has caused 45 million jobs to go overseas
ALL should be repealed
Somehow Obama and the democrats managed to convince people who don't understand how the economy works that high taxes is good for the U.S. economy. Unbelievable isn't it?
+1 to you. I have seen the enemy and the enemy is us!
Quote:
Originally Posted by ctk0p7
HappyTexan, you are correct, it will not help the small/medium corps.
Lycos, I can understand your frustration with the large corporations, and you are correct for feeling that way. But, corporations have an army of lobbyists in Washington that will always see that their best interests are served no matter what party is in office. This is a consumer driven economy, and the power to correct this economy and grow low wage incomes and increase the middle class wealth is in the hands of the people. Consumers are lazy, and choose to shop and buy products from the big corporations, when they should be buying from local shops, or at minimum pay attention to who/where the product they are buying is made. Pay a few cents more for a product made by a small company in your area. I have never been able to find a source that knows who exactly made the following quote, but it really sums up our economic situation.
"I see in the near future a crisis approaching that unnerves me and causes me to tremble for the safety of my country. Corporations have been enthroned, an era of corruption in high places will follow, and the money-power of the country will endeavor to prolong it's reign by working upon the prejudices of the people until the wealth is aggregated in a few hands and the Republic is destroyed." - Author Unknown
??? If you hold the position that individuals holding menial dead-end jobs can improve their performance on the job - hence improve their job skills - in the context of menial dead-end jobs, improved job performance often does not lead to greater compensation.
If you are a minimum wage employer with a surplus of qualified applicants, you have no need to offer raises. Burger-flipping jobs generally do not promote the development of transferable job skills beyond basic skills expected of all employees.
LOL, you're sounding pretty desperate there freemkt.
As I said, no one is going to do what it takes to improve your life but you. So how's that whining working for you?
NEVER in my life has it been as bad as the last 3 1/2 years money wise. I have sold a business to keep from getting sucked under, (I sold it for just enough to pay off the equipment bills and when said and done I came out with $632.11 in my pocket) and many in same business I was in said I was crazy to sell, but funny thing, (not at all funny) a year later when those same ones told me I was crazy and they were going under losing everything, none of them thought I was wrong the year before. This economy was a planned "bad" economy. After taking over the house and senate in Jan. 07, in Feb. 07, the leaders of the democratic party had a meeting on how best to take back the Whitehouse. Included in that plan was a poor economy, then fix it after they had complete control. This was reported on for about 3 hours, then removed from the news when they realized the people would get p.o.'ed. Remember, the very ideas the dems got into law on housing is exactly what put the economy in the hole. The only problem was the foolish morons hurt everyone so bad, they still can't get out of it. Yes, I now officially hate the democratic/Marxist party. To hell with the power hungry dirtbags.
Now if you think I am taking up for the repubs that didn't have the guts to filibuster and get in front of every t.v. camera and explain why the dems plan was bad, nope, they were cowards and therefore are just as much to blame.
Back to the economy; It isn't coming back, it's getting worst. Remember all the fools that thought high gas prices would be ok in the dimwit democratic party? That's hurting people badly now. When retard marx took the whitehouse, on his first day stinking it up, gas was 1.73 a gallon. It's 3.69 a gallon on the Pilot sign behind my house. If you had $50,000 a year coming into your home when Obama took office, you need $69,437 now a year to have the same standard of living and if this idiot goes into this fiasco in Syria, it will only get worst. And this disaster is fully the making of the democratic party. Any party that together (and obuma was suggesting ideas how to hurt this Nations economy in that meeting, so he is to blame, not so much Bush, altho he should have veto'ed the stupid bills he didn't from the looney dems), intends to hurt the people of a Nation they are sworn to protect, it only leaves 1 question; Do we hang them with rough or semi smooth rope?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
then fix it after they had complete control. This was reported on for about 3 hours, then removed from the news when they realized the people would get p.o.'ed. Remember, the very ideas the dems got into law on housing is exactly what put the economy in the hole. The only problem was the foolish morons hurt everyone so bad, they still can't get out of it. Yes, I now officially hate the democratic/Marxist party. To hell with the power hungry dirtbags.
