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Buffet is on recording SEVERAL times talking about the rich and corporations not paying their fair share. Remember that whole misleading thing he said about his secretary? Remember when he said it was "patriotic" to pay higher taxes? Remember when he said he'd GLADLY pay more taxes but never EVER did? Remember all that? He's a ****ing slimeball hypocrite.
Yes there is an unfairness and the current tax system is sorely in need of reform, he has been a proponent for change. He is not the system, is carried interest fair, GE paying no corporare tax fair.
Location: Living near our Nation's Capitol since 2010
2,218 posts, read 3,453,206 times
Reputation: 6035
Quote:
Originally Posted by cupper3
True, but they can repatriate taxes from foreign earnings to Canada with no tax implications, whereas in the US it would be taxed at the highest rate, less the taxes they paid in the foreign countries.
This is exactly right.
I live in the US but I also spend about half my year in Canada. The corporate taxes, especially for multi national businesses, in the US is just too high. Steven Harper, an excellent leader up there, has reduced corporate taxes in Canada and the businesses are booming. Perhaps the US needs to take a look at what is going on up there. Their economy is on FIRE. No unemployment, economy is doing record business. Essentially, they decided to reward businesses for doing well, employing their people, etc. Unlike the US.
I live in the US but I also spend about half my year in Canada. The corporate taxes, especially for multi national businesses, in the US is just too high. Steven Harper, an excellent leader up there, has reduced corporate taxes in Canada and the businesses are booming. Perhaps the US needs to take a look at what is going on up there. Their economy is on FIRE. No unemployment, economy is doing record business. Essentially, they decided to reward businesses for doing well, employing their people, etc. Unlike the US.
Corporations, CEOs, board members and others are doing quite well, workers and the middle class are another story. I don't see that these moves to foreign countries are going to elevate anyone but maybe the stockholders and executives, passing these profits to the middle class workers?
Do we now expect Burger King to raise the minimum wage because of this move, I don't think so.
Corporations, CEOs, board members and others are doing quite well, workers and the middle class are another story. I don't see that these moves to foreign countries are going to elevate anyone but maybe the stockholders and executives, passing these profits to the middle class workers?
Do we now expect Burger King to raise the minimum wage because of this move, I don't think so.
It's for tax reasons, not anything else.
US sales/revenue lag compared to other countries for most of these multinationals.
The world does NOT revolve around the US anymore.
Profits are passed on to shareholders and to use for expansion in growing markets.
The US is NOT a growing market.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
44,576 posts, read 81,167,557 times
Reputation: 57808
Quote:
Originally Posted by Goodnight
Corporations, CEOs, board members and others are doing quite well, workers and the middle class are another story. I don't see that these moves to foreign countries are going to elevate anyone but maybe the stockholders and executives, passing these profits to the middle class workers?
Do we now expect Burger King to raise the minimum wage because of this move, I don't think so.
Burger King has no authority to raise the minimum wage, that's up to cities, states and the federal government. They can only increase what they pay their own employees, and do so when necessary to attract people. Back about 1998 when their Redmond store was raided by INS, they lost 8 people. They were offering $11/hour for replacements, while the minimum wage was less than half of that at $5.15 then. They don't have to offer more now with plenty of people available willing to work for less.
Apple, American Express, Bank of America (that got bailed out with tax dollars) ~ Cripes! Pfizer, Nike, Citicorp, Pepsi, etc., etc.. Holy moly.
But that is not US revenue.
That's the point of these inversions...the IRS wants tax on foreign income and these companies are now keeping that foreign revenue offshore.
They aren't skipping on US revenue..just foreign revenue.
Remember the US taxes all revenue whether earned here or not.
Timmy's is a cherished Canadian institution as much as it is a business. I'm not at all sure the Canadians will go along with the deal, especially with an American company that has been screwing up their market share for 15 years.
Remember the ultra-creepy King? Or that pig-out burger with 13,000 calories? Burger King seems to be willfully out of step with the changes in our fast food preferences.
Acquiring Tim Horton's may be good for their bottom line, but it's a deal that's all in Burger King's benefit, and the Canadians aren't going to be happy to let another big American company taking over at all. I think it's a lose/lose for both.
Location: Just transplanted to FL from the N GA mountains
3,997 posts, read 4,142,400 times
Reputation: 2677
Quote:
Originally Posted by FlightAttendant
This is exactly right.
I live in the US but I also spend about half my year in Canada. The corporate taxes, especially for multi national businesses, in the US is just too high. Steven Harper, an excellent leader up there, has reduced corporate taxes in Canada and the businesses are booming. Perhaps the US needs to take a look at what is going on up there. Their economy is on FIRE. No unemployment, economy is doing record business. Essentially, they decided to reward businesses for doing well, employing their people, etc. Unlike the US.
Their companies are also paying well. Hubby was called up to consult on a job back in February. He worked exactly 23 days up there. Made 2 months of salary here in the states. And yes... they took out Canadian taxes etc. (Going to have fun doing 3 different countries taxes this year!). They have even called and ask him to come back in January.. and... offered more. He was very impressed with how the Canadians do business....
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