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I'll leave exact plans to those more informed on these matters then I am....but common sense dictates that continuing behavior that had a negative effect in the past will continue to have a negative effect in the future.
You nailed it. Einstein's definition of insanity: continuing the same behavior and hoping for different results. This package needs to be changed drastically to be effective. That can be done, but it takes time.
Without being connected (Politically), it can be hard to know the details of this plan. From what I have heard, it's very poorly designed and will certainly do more harm than good in the long term and may not even help that much short term. Obama may veto it if it's still nonsense.
Part of the reason companies have gone overseas is the taxes. But it's also all the regulations that make it such a hassle to hire Americans.
Either way, it's the concept of taxing and overregulating business, the liberal concept, that is driving businesses out of the country. Reverse these two trends and reverse the flow of jobs.
Then, why didn't companies return, in the 1980s and in this decade? Why is it that liberal governance is expected by conservatives to do what conservatives themselves haven't done? Walking the talk would be nice for a change.
Then, why didn't companies return, in the 1980s and in this decade? Why is it that liberal governance is expected by conservatives to do what conservatives themselves haven't done? Walking the talk would be nice for a change.
Well, for starters, we still have the highest corporate taxes in the world. The unions don't help, either...when it costs a company twice as much to employ an American worker as it does a foreign worker, why are we surprised when companies hire foreigners?
Also, the fact that we have had Republicans in charge from time to time should not be mistaken for having conservatives in charge.
Well, for starters, we still have the highest corporate taxes in the world. The unions don't help, either...when it costs a company twice as much to employ an American worker as it does a foreign worker, why are we surprised when companies hire foreigners?
Also, the fact that we have had Republicans in charge from time to time should not be mistaken for having conservatives in charge.
Actually Japan has the highest corporate taxes in the world, and they have unions too. But their corporations also benefit from social reforms like universal health care.
And my question to you would be... why didn't Bush do anything about it? How about Reagan? He is marketed as the benchmark of conservative movement in America, after all. Couldn't conservatives come up with a better candidate than Bush to serve the country? Or, was he simply a political puppet?
Actually Japan has the highest corporate taxes in the world, and they have unions too. But their corporations also benefit from social reforms like universal health care.
And my question to you would be... why didn't Bush do anything about it? How about Reagan? He is marketed as the benchmark of conservative movement in America, after all. Couldn't conservatives come up with a better candidate than Bush to serve the country? Or, was he simply a political puppet?
Sorry, we're number 2 by about .2%. And if I recall, Japans economy hasn't exactly been booming lately, even before this current global economic downturn.
Something else interesting:
[LEFT]When compared to other OECD countries:[/LEFT]
24 U.S. states have a combined corporate tax rate higher than top-ranked Japan.
32 states have a combined corporate tax rate higher than third-ranked Germany.
46 states have a combined corporate tax rate higher than fourth-ranked Canada.
All 50 states have a combined corporate tax rate higher than fifth-ranked France.
High corporate taxes are killing us, and it's one of the reasons foreigners are doing jobs that Americans used to do.
Sorry, we're number 2 by about .2%. And if I recall, Japans economy hasn't exactly been booming lately, even before this current global economic downturn.
Something else interesting:
[LEFT]When compared to other OECD countries:[/LEFT]
24 U.S. states have a combined corporate tax rate higher than top-ranked Japan.
32 states have a combined corporate tax rate higher than third-ranked Germany.
46 states have a combined corporate tax rate higher than fourth-ranked Canada.
All 50 states have a combined corporate tax rate higher than fifth-ranked France.
High corporate taxes are killing us, and it's one of the reasons foreigners are doing jobs that Americans used to do.
Having settled that we're NOT at the top in terms of corporate tax, I was expecting a response to my question.
- Why haven't republican administration done anything about it?
- Why wasn't this an issue until now that it is being proposed as a solution to the mess?
To add:
- Why would corporations "return" for lower taxes if they can avoid it all together elsewhere?
Having settled that we're NOT at the top in terms of corporate tax, I was expecting a response to my question.
- Why haven't republican administration done anything about it?
- Why wasn't this an issue until now that it is being proposed as a solution to the mess?
To add:
- Why would corporations "return" for lower taxes if they can avoid it all together elsewhere?
Having settled that we're only .2% off from being on top, what have you proven?
I don't know why Republican administrations haven't done anything about it. And it's been an issue for quite some time. At least among people who actually know anything about it. Why the people in charge don't listen, I can't say...but our politicians are hardly known for listening to the people, regardless of the issue.
I don't know exactly what the correlation is between jobs going overseas and corporate tax rates, but I would imagine that a certain number of jobs would be brought back home with each % drop. Every job is a calculation of cost versus benefit...when that equations starts to favor a job here against a job in India, that job will come back.
Having settled that we're only .2% off from being on top, what have you proven?
That we're NOT at the top.
Quote:
I don't know why Republican administrations haven't done anything about it. And it's been an issue for quite some time. At least among people who actually know anything about it. Why the people in charge don't listen, I can't say...but our politicians are hardly known for listening to the people, regardless of the issue.
So, it might be better to stop appearing helpless when your party gets to govern and come out of the cave when the other party takes over. Be consisted. Politicians get their way for that very reason.
Quote:
I don't know exactly what the correlation is between jobs going overseas and corporate tax rates, but I would imagine that a certain number of jobs would be brought back home with each % drop. Every job is a calculation of cost versus benefit...when that equations starts to favor a job here against a job in India, that job will come back.
My company sent several jobs to India in the 1980s thru early 90s. Those jobs came back in the 1990s, and went back again early this decade and has been expanded greatly. Whatever the reasons for the back and forth movement, I'm not sure if corporate taxes alone are at play.
The questions remains unanswered. Why would companies return for lower taxes when they can avoid taxes to begin with?
What great difference does it make to my position if we are .2% from the #1 position?
Either way, we have exceedingly high corporate taxes.
Quote:
So, it might be better to stop appearing helpless when your party gets to govern and come out of the cave when the other party takes over. Be consisted. Politicians get their way for that very reason.
I'm not sure what this means.
I am more than willing to criticize either party if they do something stupid.
[quote]My company sent several jobs to India in the 1980s thru early 90s. Those jobs came back in the 1990s, and went back again early this decade and has been expanded greatly. Whatever the reasons for the back and forth movement, I'm not sure if corporate taxes alone are at play.[quote]
I never said it was corporate taxes alone. I specifically said that each decision is made with a cost versus benefit analysis. The more it costs to do business over here, the more we're stacking the deck against companies making these decisions.
Quote:
The questions remains unanswered. Why would companies return for lower taxes when they can avoid taxes to begin with?
I did answer it...corporate taxes increase the cost of doing business here. The higher the cost of doing business domestically, the more businesses are going to look overseas. Lower the cost and the incentive to go overseas is going to diminish. It won't magically solve the problem, but it'll help.
I am pretty certain that many businesses have some sort of calculation that tells them that at X tax level, they need to outsource Y jobs. At X-5% taxation, they only need to outsource Y-5% of their jobs.
There's probably nothing we can do to bring 100% of jobs back home...but decreasing the cost of doing business over here is a big step in bringing at least some of them home.
And it's not just jobs...higher taxes can only mean higher prices, less reinvestment in the business, fewer hires, fewer raises, etc. The money paid in corporate taxes has to come from somewhere.
It seems many Republicans on Capitol Hill oppose the stimulus package.
One was quoted as saying, "We cannot keep borrowing and spending to get us out of this hole."
Any ideas on how we can create more jobs and get this economy back on track from those of you who oppose the stimulus package?
Eliminate the Capital Gains tax. That will do more to stimulate the economy and produce jobs than anything else.
The United States has the highest Capital Gains Tax of any country in the world. Is it any wonder jobs go overseas? If this tax were eliminated (or at the very least, drastically reduced) We would see new growth in business, and consequently, jobs. This is what some of the leading economists recommend.
But I doubt the Democrats would allow it to happen. They hate business.
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