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You need to quit looking at corporations as a group. Certain fortune 500 companies have low effective rates which brings the whole average down because they can afford to hire tax professionals to do so, and afford lobbying. Small and mid-sized corporations are not afforded the same opportunity so they DO pay very high rates.
So you think it's the small & mid-size businesses that are moving abroad? You think a company that doesn't have the money to hire a tax accountant or figure out how to minimize their tax burden has the money & understanding to relocate to another country? Come on...
So you think it's the small & mid-size businesses that are moving abroad? You think a company that doesn't have the money to hire a tax accountant or figure out how to minimize their tax burden has the money & understanding to relocate to another country? Come on...
Edit: DD beat me to the punch
Exactly....he's making ZERO sense. These guys just don't want to admit that anything more expensive than slave labor is simply unacceptable to U.S. corporations. That's all there is to it.
These right wingers won't be happy until we all work at Walmart. That's the Republican Dream.
Lest we not forget the unions that make business a nightmare to conduct.
Ask any manager that ever had to deal with a union.
Our unionized workforce is practically nothing compared to our First World competitors. Sorry. Only a tiny sliver of Americans are unionized (unfortunately).
Our unionized workforce is practically nothing compared to our First World competitors. Sorry. Only a tiny sliver of Americans are unionized (unfortunately).
EFFECTIVE tax rates... as in what companies actually pay.
Superb graph!
And yet the way Neocons whine, you'd think corporations were being strangled by federal taxes-the reality is many if not most large corporations are not only paying little to no taxes, but they enjoy millions and billions in federal subsidies.
We have one of the lowest effective corporate tax rates in the world, especially among industrialized nations.
I guarantee, if a country has enough stake to move operations overseas, they have aren't paying anywhere near the marginal rate. The ones that do move, do so to take advantage of our corporate tax code w/ all the loop holes and credits and deferrals.
yes some large corporations do have a very low effective tax rate. they pay for it in other ways though, mostly through the hiring of large numbers of accountants who pour over the tax code DAILY to find every possible loophole with which to avoid paying taxes. that in itself it quite expensive.
Quote:
Originally Posted by thecoalman
Taxes are just part of the problem; labor rates, environmental laws, energy costs etc.
Do we want to be like China with lax environmental regualtions and people working at slave wages? Certainly not but something needs to be done to even the playing field.
absolutely right. the biggest part of our problem is conflicting regulations. comply with one regulation and you are out of compliance with several others. we need to fix our regulations so that we can achieve the goals of preserving the environment, and still let business operate effectively.
we also need to relax union work rules. there is no need to bring in a union electrician to change a light bulb, or plug in and extension cord.
Quote:
Originally Posted by desertdetroiter
High compared to whom or which nation? And are you saying that the small and mid-sized corporations are the ones doing the moving overseas? How can they afford such a move if they can't even afford the tax professionals to help them avoid higher taxes?
Corporations had a huge chance (and still do) to start by getting out of the health care business. That would save untold billions alone. But what did they do during the health care debates? Are they pushing Single Payer Healthcare or anything that would get them out of that business?
If they did, i don't remember seeing it.
Their first world competitors may have lower corporate rates, but they also have long maternity leave rights to deal with. 6 week vacations. Strong unionized work forces that makes it difficult to fire a worker. They have more than enough costs to make up for that lower corporate rate.
Corporations aren't leaving because corporate taxes are unaffordable. They're just so damn greedy that no amount of corporate tax regardless of how low it is will satisfy them.
the lower tax rates, and the cutting back on the number of accounting staff required to comply with US tax law, outweighs the extra vacation time, and other things they have to supply to their overseas employees, add in the lower regulatory costs, and it makes sense to move operations overseas. if it didnt, these corporations would not be moving overseas now would they?
Quote:
Originally Posted by 18Montclair
Let them move overseas and then tax the hell out of all the merchandise they try to bring back and sell here.
Make it too expensive to outsource.
so lets just kill the US economy now and end things once and for all.
Sure would be nice if the US Firms entrenched in our government would leave also.
Instead, what they do, is move their operations overseas, but keep their moles in our US Government to do their bidding.
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