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The King of the Universe has just issued a decree to all the nations (the little people far and wide) of the world. It is hereby mandated that all nations shall screw their populace (serfs) with outrageous taxation. Failure to do so will result in ICBMs being shoved right up your... well, you know. Please don't force me to hurt you. Don't force Kommila to laugh at the mushroom clouds and me to say, "I'll be a son of a ***** if they didn't comply after I fried half their population." Don't make this hard on yourself. Just comply. Resistance is futile. And free will is irrelevant.
You call them overseas shelters. They are countries with their own tax structure.
You don't like it that they have a lower corporate tax rate ? Well then we should lower ours to be more competitive.
Its not "competitive" when the only thing the other nation is doing is providing 1,000 companies the use of a single address......
The guy is a complete idiot. China does not tax their slaves....
I will demand to be paid in barter, stamped gold or silver coin, or Bitcoin... No Federal Notes accepted.
Biden thinking other countries are going to go along with him shows how mentally impaired he is. When he raises taxes the countries with lower taxes will see more jobs and investment. It is in their self-interest to reap the benefits.
Two ways we can approach this:
1. keep corporate taxes low so that businesses want to come here.
2. put significant tariffs on imports so that doing business elsewhere is less attractive.
Why this won't work, and how we ended up with Joe:
1. only a little more than half of all Americans actually work such that they might care about the US job market and prevailing wages. Moreover, many of those that do work are employed by government or otherwise insulated from the downward pressure on wages that one-way trade deals and unchecked illegal immigration causes.
2. consumers (all Americans) like cheap crap from China.
The King of the Universe has just issued a decree to all the nations (the little people far and wide) of the world. It is hereby mandated that all nations shall screw their populace (serfs) with outrageous taxation. Failure to do so will result in ICBMs being shoved right up your... well, you know. Please don't force me to hurt you. Don't force Kommila to laugh at the mushroom clouds and me to say, "I'll be a son of a ***** if they didn't comply after I fried half their population." Don't make this hard on yourself. Just comply. Resistance is futile. And free will is irrelevant.
Careful. I got an infraction for ill willing the vp for some reason. It was actually facts too. Be safe out there.
Ireland is basically a store front for money laundering, these companies just claim headquarters there for tax avoidance. 60 minutes did a story back in 2011 where they went to Zug, Switzerland where 30,000 companies claim headquarters. Many of their so called headquarters just mailboxes or empty office space so they can use the 17% tax rate.
These companies should have a substantial presence in these countries to be able to declare their location rather than exploiting tax provisions. Very unfair to medium and small businesses and an uneven playing field. This should have been addressed in the so called 2017 Tax Reform Act.
Corporations that use this in legitimate countries for leverage are racing to the bottom.
Your posts ignores the issue. Biden cannot tell the rest of the world what to do. Ireland and other countries do what they do because it is what is best for them. Thew real issue is the United States engages in reckless spending on an almost infinite number of "programs" which, at best, encourage people not to work and companies to invest and create jobs in other countries.
Its not "competitive" when the only thing the other nation is doing is providing 1,000 companies the use of a single address......
Do you even know what the prisoners dilemma is?
It is competitive because they are sovereign nations which can do what they want for whatever reasons they want. Biden does not make the rules for the whole world, he has to function within that world. The bottom line is if our tax rates are competitive it takes countries like Ireland out of the game.
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