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View Poll Results: Would it work? (Elaborate)
Yes 2 7.69%
No 22 84.62%
Maybe 2 7.69%
Voters: 26. You may not vote on this poll

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Old 08-16-2018, 09:31 PM
Location: Honolulu, HI
8,454 posts, read 2,678,242 times
Reputation: 10835


The government cannot artificially manipulate supply and demand. We already tried it with communism then socialism and both have ended in disaster.

Paying a burger flipper more money sound nice, fair, and charitable but certainly not at the cost of small businesses firing workers because they can't afford the higher salaries and Americans paying $15 for 1 big mac sandwich.

When you increase the burger flippers wages, you must also increase the wages of his superiors, managers, and franchise owners because they are on a higher hierarchy than the burger flipper.
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Old 08-17-2018, 04:39 AM
3,977 posts, read 2,464,426 times
Reputation: 8887
Originally Posted by Merkin View Post

I recommend you should spend some time learning how corporate taxes and expense works.

I bet the 300 Billion dollars Apple holds overseas is doing us good...

I think it’s you who needs to spend the time to learn how corporate tax works.

The accumulated earnings and profit and cash permanently reinvested overseas under APB 23 was (largely) changed by the TCAJ act. Those were earnings that the foreign controlled corporation already paid taxes on overseas because the money was earned overseas. The U.s was one of the only countries with a worldwide system of taxation that would have punished Apple with a second tax...at a marginal rate of 35%...if they wanted to bring the money back domestically. It would also be a violation of their ABP 23 assertion and cause the deferred income tax assets to need to be revalued. Along with the 35% to 21% reduction in corporate taxes, came a “transition tax” (to a more territorial system) for a one time deemed repatriation of permanently reinvested overseas earnings occurred under section 965. Which means all of Apples foreign earnings and profit pools and cash held over seas is taxed at 8 and 15.5 percent respectively. This toll charge is payable over 8 years. Apple is estimating a tax bill of over 35 billion dollars and will be able to move the money domestically if they actually have a need for it.

So basically your outrage over Apple having money held up overseas is misplaced and ridiculous to begin with, but it’s also not true anymore. The individual tax cuts and corporate tax rate drop were essentially given as the negotiated transition tax went up and up.

Last edited by Thatsright19; 08-17-2018 at 04:59 AM..
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Old 08-17-2018, 09:57 AM
Location: Boston
13,871 posts, read 4,078,166 times
Reputation: 10131
Originally Posted by Mircea View Post
Both would cause Inflation.

In Ohio, Cost-push Inflation has been devastating on child care. People were paying $1,800 to $2,000 annually for child care costs, but after the State enacted a law requiring child care workers to have a college degree -- an Associate Degree suffices -- it dramatically increased the cost of child care, so that it costs only a few $100 less than full-time tuition at a major university in Ohio, which is about $9,800 annually.

The first thing that happened was the Supply of Labor for childcare workers was slashed by more than 95%. You can no longer pay minimum wage for child care workers, you now have to pay $12-$15/hour. Few people have the money, the time or the interest to spend 2 or more years to get an Associate Degree in Early Childhood Education to work at a day-care facility, and even those that do often do not qualify for admission to a 2-year or technical college, or drop out for any number of reasons.
You're lucky, good childcare is $450-500 a week in Boston. (per child)
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