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Starbucks gets around paying taxes by setting up a headquarters in a tax-haven like Ireland and claiming the shell company owns the proprietary licensing rights for the stores. It sets up payments to the shell company from the its subsidiaries in the US, UK, and other higher tax countries in order to avoid taxes. The shell company holds the money in various financial institutions throughout the world (NYC, London, Tokyo, etc.) to hedge currency fluctuations.
And where do you think those funds held by various financial institutions are invested?
Which genius progressive is going to answer the question as to how higher taxes create higher wages and more jobs for the private sector economy? The public sector does not really produce revenue at all. It takes revenue.
Basically supposed tax cuts will entice business owners to pass on those savings to employees. Maybe in Wally World that will happen, but businesses already struggle and could use the tax savings to help with their own infrastructure, capital improvements, etc. I really don't think it will just make employees happier, but if you believe such stuff from Washington than smile and be happy about it.
And many large corporations that pay -0- taxes get huge tax rebates from the IRS,
"From 2008 to 2013, while GE made over $33.9 billion in United States profits, it received a total tax refund of more than $2.9 billion from the Internal Revenue Service. G.E.’s effective U.S. corporate income tax rate over this six year period was -9 percent."
"From 2008 to 2013, while Boeing made over $26.4 billion in U.S. profits, it received a total tax refund of $401 million from the IRS. Boeing’s effective U.S. corporate income tax rate over this six-year period was -2 percent."
"From 2008 to 2013, while Verizon made over $42.4 billion in U.S. profits, it received a total tax refund of $732 million from the IRS. Verizon’s effective U.S. corporate income tax rate over this six-year period was -2 percent."
America's large corporations do not move American jobs to other countries for lower tax rates, they move jobs to other countries to get cheaper labor.
Wages are stagnant because republicans refuse to raise min wage laws and American workers are not unionized. There is lots of extra money in America's large corporations to pay workers more money, but that extra money is given to the CEO's (not the workers.)
"The ratio of CEO pay to the median salary for all other employees in (a) company provides a reference of how high CEO pay is. It's often used to compare CEO pay across countries. U.S. CEOs earn from 400 to 500 times the median salary for workers. For CEOs in the U.K., the ratio is 22; in France, it's 15; and in Germany it's 12."
Workers in the U.K., France and Germany are unionized so CEO to worker pay is about 20/1. But in America our workers are not unionized and there are no high min wage laws, so in America CEO to worker pay is 450/1.
Loopholes don't govern business behavior except to encourage bribery so that they can get more loopholes.
If the better part of the next dollar of revenue earned will be paid in taxes, there is little incentive to stay in a country that imposes such taxes.
Location: Live:Downtown Phoenix, AZ/Work:Greater Los Angeles, CA
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Quote:
Originally Posted by metalmancpa
Basically supposed tax cuts will entice business owners to pass on those savings to employees. Maybe in Wally World that will happen, but businesses already struggle and could use the tax savings to help with their own infrastructure, capital improvements, etc. I really don't think it will just make employees happier, but if you believe such stuff from Washington than smile and be happy about it.
Employers view employees as costs, and don't really see any value in them, and think they should consider themselves lucky that they even have a job. So when the business sees increased revenue, they just pay it out to the C-Suite in bonuses and don't care about their workers
09-04-2017, 10:27 AM
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n/a posts
Quote:
Originally Posted by Objective Detective
Which genius progressive is going to answer the question as to how higher taxes create higher wages and more jobs for the private sector economy? The public sector does not really produce revenue at all. It takes revenue.
I don't see that argument being made, but I'll bite anyway.
Higher taxes can be used for things like:
1) Better education - an educated worker makes more money and enjoys vastly better working conditions. Companies need educated workers, too. What they don't need are people to sew t shirts.
2) Better infrastructure - the ability to get workers to and from work and goods and supplies to their destinations efficiently is critical for a strong economy
3) Better protections - a strong intellectual property framework makes businesses more willing to do their most sensitive work here. That also has the effect of keeping high tech manufacturing in the US. There's a reason US companies would rather sponsor R&D workers from a foreign country to come here than pay them to do the work in their home countries.
The last pres. that you probably voted there "tried something else". The middle class is not better off than they were. Wall St.is. Wealth inequality has grown.
What do you blame for the lack of success of the high hopes that you had?
Wealth is a highly subjective term.
High income does not = wealth or vice- versa.
Remember the gas station attendent who managed to amass $ 8 million?
Most of us are not willing or disciplined enough to live and invest the way this gas station attendant did.
The lower the income the more likely one has more dependents than they can reasonably support, smokes, has tats, buys lotto tix and so on. It's all about goofy choices.
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