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Old 05-05-2009, 07:41 PM
 
4,465 posts, read 7,226,507 times
Reputation: 800

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Oh, it is 100% the correct thing to do.

It is a no brainer, and will correctly illustrate, at vote-time, just which House and Senate Dems receive the most bribes from the lobbyists.


My point is that even if we do get precisely what Barack wants, $20 Billion per year from closing overseas ratholes (like the 2-story "office Building on Grand Cayman that's home to over 800 US corporations) jobs will still flow to China, India, and other slave-wage countries, and our economy will continue to spitral down.


Because the real problem is not being fixed.

So, this is a "feel good", at most.
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Old 05-05-2009, 07:51 PM
 
4,465 posts, read 7,226,507 times
Reputation: 800
Quote:
Originally Posted by sanrene View Post
US companies pay some of the highest business taxes in the world.

You want them to pay more - then be prepared to pay more yourself.

They will pass it right on down to the consumer.
.

Simply not true:


Corporations Don’t Pay Taxes, People Do - by Stephen Slivinski - Budget & Tax News

Corporations Don’t Pay Taxes, People Do - by Stephen Slivinski - Budget & Tax News


"The Government Accountability Office said 72 percent of all foreign and 57 percent of U.S. companies doing business in the United States paid no federal income for at least one year between 1998 and 2005."


http://www.b12partners.net/wp/2008/0...-pay-zero-tax/

"Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.
The study by the Government Accountability Office released Tuesday said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.
Collectively, the companies reported trillions of dollars in sales, according to GAO’s estimate.
“It’s shameful that so many corporations make big profits and pay nothing to support our country,” said Sen. Byron Dorgan, D-N.D., who asked for the GAO study with Sen. Carl Levin, D-Mich."
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Old 05-06-2009, 01:55 AM
 
2,659 posts, read 2,657,388 times
Reputation: 366
Quote:
Originally Posted by sanrene View Post
US companies pay some of the highest business taxes in the world.

You want them to pay more - then be prepared to pay more yourself.

They will pass it right on down to the consumer.
Still repeating that?

Quote:
According to a GAO study released yesterday, most corporations pay no federal tax. This is quite an amazing statement - we are told relentlessly that we need to reduce taxes for corporations (they are stated at 35%) so they can create more jobs (overseas ahem). While I think it might be a truth for small businesses, it seems the bigger fish have gamed the system to perfection.
High U.S. Corporate Taxes Are a Myth -- Seeking Alpha
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Old 05-06-2009, 01:58 AM
 
1,375 posts, read 1,119,906 times
Reputation: 259
Quote:
Originally Posted by Dopo View Post
Here's the way I understand it (Foxnews won't tell you this) because I worked for a company that had 1/2 of its employees in India and Argentina.

They set the company in a way that they get the best of both sides:
- American privilege to not pay tariffs
- Cheap labor from India/China
- Low taxes in the Caribbean

So they want to have the privilege of selling their products in the US by saying that the are "American companies"
but when it comes to paying taxes ... they are not American anymore.
Your dead wrong!@ FOx tells nothing but the truth.
This is a liberal who is a pretender....
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Old 05-06-2009, 02:00 AM
 
1,375 posts, read 1,119,906 times
Reputation: 259
Quote:
Originally Posted by Mr. Opinion View Post
That ideology was legal based on the Bush Presidency!

Now it's time to change it, because more business owners are worry about their kids instead of yours.
But Obama is out to f&ck you kids and be pushed to pay high level taxes!
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Old 05-06-2009, 02:08 AM
 
Location: OB
2,404 posts, read 3,607,218 times
Reputation: 879
Quote:
Originally Posted by Mr. Opinion View Post
These corporations that send American job's over sea's but still get tax breaks. These corporation should pay just like the rest of us!!!
Companies do not have to register their corporate headquarters in California. Or in Delaware. Or in America. America has one of the highest corporate tax rates. It is becoming a lot easier to incorporate in Irland for international business.
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Old 05-06-2009, 02:09 AM
 
1,375 posts, read 1,119,906 times
Reputation: 259
Quote:
Originally Posted by mossomo View Post
Companies do not have to keep their corporate headquarters in California. Or in Delaware. Or in America. America has one of the highest corporate tax rates. It is becoming a lot easier to incorporate in Irland for international business.
Yes for now! All that will change soon.
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Old 05-06-2009, 02:43 AM
 
Location: Boise
4,425 posts, read 5,433,230 times
Reputation: 1700
i believe america needs to get back to making sh*t again, and get away from this fluff "Service" economy... its not worth the market it's traded on in wall street.
Problem is corporations don't want to pay us taxes, and don't want to employ us worker, but they certainly want to sell their products to americans..
Time to start imposing taxes and tariffs on any company foreign or domestic that profits from cheap labor in asia and wishes to sell it in america. Tax them to the extent that it would be just as profitable to pay us taxes and workers.. If you don't want to do that.. then you don't have access to the american consumer market.. period. America consumes 54 percent of what is produced on earth.. that is a huge buying power and a market any country will do whatever it takes to tap into. If the sound of such fairness is too much.. perhaps you need to apply capitalistic principles more.. and perhaps staple companies will have to learn to innovate and change how they do business or die and be replaced by those that can figure out how to do it...
It can be done, it use to be how things were.. and it can be like that again..
If you are a company and want your greedy hands in the gold mine of the american market.. you better be investing in that market with jobs... otherwise take a hike and you can see how many of your chinese workers making 5 cents per hour can afford your 5 dollar socks, and 20 dollar cd players
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Old 05-06-2009, 03:05 AM
 
Location: Unperson Everyman Land
32,533 posts, read 21,497,090 times
Reputation: 9288
Quote:
Originally Posted by Geechie North View Post
.

Simply not true:


Corporations Don’t Pay Taxes, People Do - by Stephen Slivinski - Budget & Tax News

Corporations Don’t Pay Taxes, People Do - by Stephen Slivinski - Budget & Tax News


"The Government Accountability Office said 72 percent of all foreign and 57 percent of U.S. companies doing business in the United States paid no federal income for at least one year between 1998 and 2005."


Most corporations pay zero tax at B12 Solipsism

"Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.
The study by the Government Accountability Office released Tuesday said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.
Collectively, the companies reported trillions of dollars in sales, according to GAO’s estimate.
“It’s shameful that so many corporations make big profits and pay nothing to support our country,” said Sen. Byron Dorgan, D-N.D., who asked for the GAO study with Sen. Carl Levin, D-Mich."

Do you know why they pay no taxes? They pay no taxes because the operations they conduct in the US are the ones they lose money on or are constructed in such a way that profits from these operations are realized in other nations. The reason they do that is because our taxes are the second highest in the world. Only Japan taxes internationals at a higher rate and look at their economy. The jobs that go along with the operations being conducted in other nations will never come here as long as we think we're going to get a free lunch. We need to treat selling a good or service in the US as a privilege to be earned also. None of this will happen as long as our politicians are in the pockets of business. I think we all know the extent of that corruption since the financial market collapse and the Fannie and Freddie debacle.


"For example, an American corporation might make
[LEFT]sure that some asset, say a logo or a patent, is held by its foreign subsidiary in a country with
low or no corporation taxes. The American parent company then “pays” an inflated price to
the foreign subsidiary for the use of that asset, and tells the IRS that this expense (the payment
for the use of the logo or patent or whatever) greatly reduced or wiped out its gross income,[/LEFT]
leaving it with no taxable income."

http://www.ctj.org/pdf/repatriation.pdf
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Old 05-06-2009, 03:39 AM
 
955 posts, read 1,997,278 times
Reputation: 401
Quote:
Originally Posted by Geechie North View Post
.



"The Government Accountability Office said 72 percent of all foreign and 57 percent of U.S. companies doing business in the United States paid no federal income for at least one year between 1998 and 2005."

Here is an interesting point for discussion. In eight years the statement above indicates that fifty seven percent of corporations paid no federal income taxes for at least one year. In the same eight years, studies show that about the same percentage of Americans paid no federal income taxes in any of those eight years.

That's right, half of Americans never pay any federal income taxes. Shall we look at closing those loopholes that allows this to happen?
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