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Looking back, consider what our political class has done to our once self-sufficient American Republic.
We impose on businesses, our principal job creators, the most punitive corporate tax rate in the West. Through “free trade,” we tell U.S. companies that if they wish to avoid our taxes and get around our minimum wage, health, safety, and environmental laws, they can move to China, produce there, and bring their products back free of charge—and kill their competitors too patriotic to leave America.
“The Decline and Fall of the United States of America” is going to a piece of cake for future historians to write.
Sadly, Ebay recently made a move that does not help this argument and apparently Yahoo, Google and Amazon are about to follow suit: Ebay just brought 9 Billion in overseas money back to the US and paid a 33% tax on it. They felt it was better it have the $$ in the US and pay the tax, than keep it in Europe. I wonder why?
Reshoring profits should always be tax free. We need to encourage reshoring, not encourage using those profits offshore.
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Originally Posted by armourereric
Sadly, Ebay recently made a move that does not help this argument and apparently Yahoo, Google and Amazon are about to follow suit: Ebay just brought 9 Billion in overseas money back to the US and paid a 33% tax on it. They felt it was better it have the $$ in the US and pay the tax, than keep it in Europe. I wonder why?
Should be tax free to keep money in America, never mind it be made here or overseas..
The author is living in a dream world. Every US company could eliminate its tax burden by cutting prices, increasing investment, increasing wages, and hiring more now, but they don't...
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Every U.S. company, liberated from its corporate tax burden, would see its profits soar and have more cash on hand for cutting prices, raising wages and salaries, and new investment and hires. And every company that relocated here would create new U.S. jobs.
I'm not sure why he thinks protectionism is a good strategy.
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Put a 10 percent tariff on imports, and the abolition of the U.S. corporate income tax becomes a revenue-neutral proposal.
Is this a joke? Wages, dude, wages, not taxes. That's what sends jobs to china.
Why just wages? Why not BOTH wages and high taxes? Both cost the business money.
Due to both higher wages and higher taxes companies are going to other countries where they can pay lower wages and lower taxes. Don't you shop around and do business with companies that cost you less? What makes companies any different?
...they can move to China, produce there, and bring their products back free of charge—and kill their competitors too patriotic to leave America.
That kind of thinking is why you will lose. It isn't about selling products to the 4.5%.....it's about selling products to the 95.5%.
As I stock-holder, do I care if Americans are penniless and live in the streets?
$5 profit * 317 Million Americans ----- the 4.5%
$5 profit * 6.6 Billion non-Americans ---- the 95.5%
Do the math....if American burns down, falls over, and then sinks into a swamp,....I still win.
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Originally Posted by gunlover
That man should have been President..
I'm sure he'll do just fine as president of United Skid-Mark Scrubbers Local 666.
It's no longer about you.....
Mircea
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