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Coca-Cola CEO Muhtar Kent thinks US corporations are at a disadvantage compared to those based elsewhere thanks to America’s labyrinthine tax code, he told the Financial Times in an interview published late last night. “I believe the US owes itself to create a 21st-century tax policy,” Kent opined. His biggest issue? The tax on repatriated earnings, which he says forces US-based companies—unlike those based in other countries—to pay “a very large tax burden” on money earned overseas and brought back to the US.
Sure it's easy now in China because they want to attract more business, but once you're established and make enough business, that's when they pile the taxes on. It's like a crack dealer. The first few hits are always free.
Well considering that china has the highest trade surplus in the world, I'd say China's business friendly climate is doing something for them.
Business friendly climate? So you want the US to become a socialistic dictatorship that allows businesses, often state owned, to pollute and abuse its workers? Oh...and we can reduce our standard of living by 4~5 times as well.
China's trade surpluses are funded by a reduced standard of living by Chinese households. There is no virtue in a trade surplus, it just means you're producing products for other nations while not enjoying the fruits of your labor.
You missed the point. Coca-Cola wants to compete in foreign markets with local companies (similar to how Toyota competes in the US). But the tax burden makes it difficult to compete with companies that can survive with a 10% profit margin.
Also, Muhtar is a good guy... let's not get into personal attacks.
You missed the point. Coca-Cola wants to compete in foreign markets with local companies (similar to how Toyota competes in the US).
No Coca-Cola doesn't want to pay taxes on money made outside the US, but also wants to be able to bring that money back to the US.
Coca-Cola operations in China are paying the same sorts of taxes Chinese companies are paying. The US doesn't tax foreign earnings unless those earnings are brought back tot he US.
This issue has nothing to do with competition and everything to do with big businesses avoiding taxes. Most large US companies have less than 10% profit margins and it should go without saying that taxes are paid on profits and as a result have nothing to do with a companies ability to make a profit.
Business friendly climate? So you want the US to become a socialistic dictatorship that allows businesses, often state owned, to pollute and abuse its workers? Oh...and we can reduce our standard of living by 4~5 times as well.
Well, I'm in the business to make money and give the best value to my customers. If that means polluting and abusing workers then that's the price I'm willing to pay. If I can't do it in the USA then I'll just go to somewhere where I can. Makes absolutely no difference to me.
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China's trade surpluses are funded by a reduced standard of living by Chinese households. There is no virtue in a trade surplus, it just means you're producing products for other nations while not enjoying the fruits of your labor.
Well, the bottom line is that wealth is flowing out of the USA at a rate of $600 billion per annum and going to Asia. That's not sustainable for us and we can already see the effects of it: unemployment. Also eventually China will be as wealthy as the USA or more wealthy. Hence all the multinationals are flocking to China to not only manufacture but to also sell product.
Well, I'm in the business to make money and give the best value to my customers. If that means polluting and abusing workers then that's the price I'm willing to pay. If I can't do it in the USA then I'll just go to somewhere where I can. Makes absolutely no difference to me.
Well, I'm in the business to make money and give the best value to my customers. If that means polluting and abusing workers then that's the price I'm willing to pay. If I can't do it in the USA then I'll just go to somewhere where I can. Makes absolutely no difference to me.
Well, by all means move to China.
China is very far from the US in terms of wealth. The average worker in China has a standard of living that is far less than the average American worker.
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