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Old 07-20-2012, 02:00 PM
Location: Raleigh, NC
1,039 posts, read 2,655,473 times
Reputation: 1163


I'm not a big Limbaugh or Hannity fan, however I do listen to them if I happen to be in the car, or if it's a commercial break on my music channels. Some things make me laugh, some things are ignorant and some things they hit the nail on the head.

I don't work for a tax group, I work in the tax department of a US company with a foreign parent. We buy our products (with markup) from the parent and all revenue goes overseas. Although we brought in billions of dollars, due to the mark-ups and royalty payments we have been operating at a loss with zero tax due to Uncle Sam.

To your last point, yes STATUTORY rates are higher here but that is neither here nor there. (and yes Rush and Sean make it a point to let the dittoheads know that) Neither you or I paid the statutory rate on our personal income tax due to deductions and exemptions. Corporate America is the same, just with a bunch more zeroes. So while the company I work for didn't pay a dime in Federal taxes (for the last 9 years) the country of residence of the parent certainly did receive their due.

Let's not get hung up on the statutory rate and talk real life here. I also handle the Canada operations. Long story short same model, same expense, same markup, same royalties, however tax was due in Canada. Zero tax due in US, quite a bit due in Canada (won't disclose totals). But because Rush and Sean said taxes are higher in the US, it must be true.
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