Another corporate moocher skips America

[The Rabbi]

There is no evidence the last time these large corporations were given a special tax break for repatriating their money that it created jobs.

You are buying into the same bullshit hostage taking everyone does when their particular special interest wants a gift from the government.

It's not a gift to allow someone to keep more of the money they have earned.
/fail

That is a failed argument. The tax break one person gets comes at the expense of someone else, fool. It comes at the expense of higher tax rates for all of us. Do you even understand how tax expenditures work and their cost?

It is failed only to the morons who believe all money belongs to the government.
How much benefit do we get with a policy that encourages companies to keep money overrseas rather than repatriating it here?

 

[kidrocks]

Are they doing anything that is illegal?

Time will tell.

 

[bripat9643]

It's not a gift to allow someone to keep more of the money they have earned.
/fail

Let's say a stretch of road in front of two houses represents the entire tax burden for those two houses. And let's say that tax burden is $5000. Furthermore, House A has a total income of $50,000 and House B has a total income of $50,000.

Common sense dictates each house would pay $2500 in taxes. That works out to a 5 percent tax rate.

But noooooo...not in 'Merka!

House A is mortgaged, while House B is rented. House A therefore gets a $500 discount from their taxes.

House A also has a couple of kids. Therefore, House A gets another $500 discount from their taxes.

Total tax burden for House A is therefore $1500 instead of their fair share of $2500. This is where you celebrate someone getting to keep more of their money and then promptly stop thinking.

However, House B will now have to cough up $3500 if the budget is to be balanced. That means their tax has to be raised to 7 percent from the original 5 percent.

This is how your deductions are equal to an ObamaPhone or food stamps. They have to be paid for by other taxpayers. In fact, your deductions, exemptions, and credits are far, far greater than the cost of food stamps or ObamaPhones. What's more, the mortgage interest deduction is highly regressive.

House A and House B earn identical incomes, but one is paying $1500 in taxes while the other is paying $3500. This is beyond outrageous.

What's more, House B refuses to pay 7 percent in taxes. All the House B's of America revolt. As a result, the government only charges them 6 percent (still higher than the original 5 percent) and then borrows the rest from the Fed and China and a bunch of other countries.

And that is how we got $17 trillion in debt. Your deductions, credits, and exemptions which add up to $1.2 trillion a year. Seriously. That is not an exaggeration. Tax expenditures add up to $1.2 trillion a year.

Now go and look at what the federal deficit has been each year.

You're ignoring one essential fact: a road is a tangible asset that has value to the people who are paying for it. On the other hand, 90% of the federal budget goes to moochers and ticks on the ass of society. It doesn't benefit the taxpayers in any way. That makes 90% of federal taxes no better than pure theft. Robbing 'A' less than you rob 'B' does not mean 'B' is receiving a benefit that he hasn't paid for. It only means he's being robbed less.

 

[bripat9643]

Are they doing anything that is illegal?

Time will tell.

No, in other words.

 

[Defiant1]

Are they doing anything that is illegal?

Everyone on the Right keeps saying that no one did anything illegal in the 2008 crash. Yet it happened.

I didn't know crashes were illegal...

 

[Oldstyle]

This is a perfect example of progressives living in denial...

We live in a global economy inhabited by multi-national corporations. When you attempt to support a bloated and inefficient Federal Government with higher taxes on businesses...don't be shocked when those that CAN...go elsewhere! Duh?

 

[boilermaker55]

Why Does Pfizer Want to Renounce Its Citizenship? | Tax Justice Blog


After years of being a bad corporate citizen, Pfizer is now seeking to renounce its U.S. citizenship entirely by reincorporating in Britain as part of its hoped-for purchase of British pharmaceutical company AstraZeneca. While the deal would allow Pfizer to claim on paper that it’s a British company, it would not require the company to move its headquarters abroad. In fact, the main effect would be to allow Pfizer to reduce its taxes to an even lower level than they already are.

While the audacity of this newest maneuver by Pfizer is striking, it’s not shocking. The company has a history of engaging in offshore income-shifting games. Over the past five years for example, the company has reported that it lost about $14.5 billion in the United States, while at the same time it earned about $75.5 billion abroad. Is the United States just a really bad market for Pfizer? It’s unlikely given that Pfizer also reports that around 40 percent of its revenues are generated in the United States. The more realistic explanation is that Pfizer is aggressively using transfer pricing and other tax schemes to shift its profits into offshore tax havens.

Despite its already low U.S. taxes, Pfizer has been aggressive in pushing Congress to preserve and expand loopholes in the corporate tax code. Over the past five years, Pfizer spent more than $72 million lobbying Congress. It reports that “taxes” are second only to “health” among issues it lobbies on. In addition to its own efforts, Pfizer has helped sponsor four different business groups (Alliance for Competitive Taxation, Campaign for Home Court Advantage, LIFT America and the WIN American Campaign) pushing for lower corporate taxes.

 

[Oldstyle]

What mooching did they do?

The corporations who have been hoarding their money overseas now want to bring that money home. But they want a special retroactive tax cut for themselves when they do it. A retroactive tax break small businesses were not and will not ever be given.

Classic mooching.

You really don't understand this situation...do you? (Sigh)

When a corporation does business in another part of the world, they pay taxes THERE on the profits they may have made. What you want to do is tax them AGAIN simply because they and others want to bring TRILLIONS of dollars of money back into the United States that could be used to stimulate our economy and put people back to work! We should be thrilled that they want to invest in the US but instead...you idiots are doing everything that you can to make sure they keep that money where it is. Then you scratch your heads trying to figure out why you can't create jobs and the economy is treading water! Stupid this strong is scary to observe!

 

[The Rabbi]

Sometimes they pay taxes, sometimes they dont. Apple is in Ireland precisely because they can avoid a lot of tax payments that way.

But again, what good does a policy do that encourages companies to keep money outside the US? I realize the libs will howl "FAIRNESS" from today until next year. But what good is that tax policy doing for us?

 

[g5000]

What mooching did they do?

The corporations who have been hoarding their money overseas now want to bring that money home. But they want a special retroactive tax cut for themselves when they do it. A retroactive tax break small businesses were not and will not ever be given.

Classic mooching.

You really don't understand this situation...do you? (Sigh)

When a corporation does business in another part of the world, they pay taxes THERE on the profits they may have made. What you want to do is tax them AGAIN simply because they and others want to bring TRILLIONS of dollars of money back into the United States that could be used to stimulate our economy and put people back to work! We should be thrilled that they want to invest in the US but instead...you idiots are doing everything that you can to make sure they keep that money where it is. Then you scratch your heads trying to figure out why you can't create jobs and the economy is treading water! Stupid this strong is scary to observe!

You are the one who does not know what is going on. When a pill is manufactured, distributed, sold, and consumed entirely in the United States, the sale is registered in Ireland! This is a tax dodge scheme.

Your argument about creating jobs was already addressed by me earlier in this topic. There is no evidence to support that claim. The last time they received this moocher tax break, it had no positive effect on the economy. You are trying to take hostages just like everyone who wants something from the government.

It is a simple fact these moochers dodged their taxes and want a retroactive tax cut that is not available to small business owners who DO pay their taxes.

I am sick and tired of you "gimme gimme gimme and make that guy over there pay for it" assholes. It is YOU who are destroying our economy. If you assholes stopped mooching, EVERYONE could have lower tax rates.

 

[g5000]

Small business owner makes a bundle of money and pays his 34% tax.

Large business owner dodges his 38% tax by sending the money overseas.

When the large business owner wants to repatriate his money, he asks for a tax cut on that money.

This means he is asking for an unlevel playing field. The big company is asking for a lower tax rate than the small company has been paying all this time.

That, you fucking, fucking, fucking idiots, is MOOCHING.

 

[g5000]

If Disphit gets a tax cut, someone else has to make up the difference to balance the budget. That difference translates to a higher tax rate for everyone else. Thus making Dipshit a moocher.

Why this simple fact evades people is beyond me.

 

[g5000]

When you claim a deduction or a credit or an exemption on your taxes, you are acting rationally. You would be a fool to leave that money on the table.

But this makes you a Moocher. Make no mistake about it. Everyone has higher tax rates because of all those deductions, credits, and exemptions. This results in the insane outcome of people earning identical incomes paying differing amounts of tax.

The amount of tax expenditures has reached such an astronomical level (over $1.2 trillion a year) that the American people would not tolerate the tax rates that would be necessary to pay for them.

And so the money is borrowed. From China, and the Fed, and Japan, and Great Britain. The entire planet.

WE ARE A NATION OF MOOCHERS.

 

[buckeye45_73]

You understand that Pfizer employs thousands of people and produces cutting edge drugs like Lipitor that have saved probably hundreds of thousands of lives, right?
Why are they moving? To save on taxes. There's the problem right there.
That and the fact that you are a moron.

They moved because of corporate-greed. Plain and simple. Greedy bastards charge an arm and a leg for their cutting edge, life-saving drugs.

Like you said those bastards makes us pay for medication. It shoild be free with scientists making nothing.....nice and you complain we dont like the min wage....youre a fucking retard

So instead of paying for drugs, youd rather we have none

oh and its people like you that want the highest corporate tax in the world....this is what you get


why not rail against the rolling stones or def leppard....they avoid taxes by moving to other countries.......and they are not right wingers



stop being a fool

 

[buckeye45_73]

The corporations who have been hoarding their money overseas now want to bring that money home. But they want a special retroactive tax cut for themselves when they do it. A retroactive tax break small businesses were not and will not ever be given.

Classic mooching.

You really don't understand this situation...do you? (Sigh)

When a corporation does business in another part of the world, they pay taxes THERE on the profits they may have made. What you want to do is tax them AGAIN simply because they and others want to bring TRILLIONS of dollars of money back into the United States that could be used to stimulate our economy and put people back to work! We should be thrilled that they want to invest in the US but instead...you idiots are doing everything that you can to make sure they keep that money where it is. Then you scratch your heads trying to figure out why you can't create jobs and the economy is treading water! Stupid this strong is scary to observe!

You are the one who does not know what is going on. When a pill is manufactured, distributed, sold, and consumed entirely in the United States, the sale is registered in Ireland! This is a tax dodge scheme.

Your argument about creating jobs was already addressed by me earlier in this topic. There is no evidence to support that claim. The last time they received this moocher tax break, it had no positive effect on the economy. You are trying to take hostages just like everyone who wants something from the government.

It is a simple fact these moochers dodged their taxes and want a retroactive tax cut that is not available to small business owners who DO pay their taxes.

I am sick and tired of you "gimme gimme gimme and make that guy over there pay for it" assholes. It is YOU who are destroying our economy. If you assholes stopped mooching, EVERYONE could have lower tax rates.

heres a crazy idea, the left never likes. STANDARDIZE LAWS, why do we have these stupid archaic laws about x nu ber of people. Put laws in place and make every co pany follow them.

And within 5 seconds 90, percent of our laws and regulations would be trashed which is a good thing to me.

 

[The Rabbi]

If Disphit gets a tax cut, someone else has to make up the difference to balance the budget. That difference translates to a higher tax rate for everyone else. Thus making Dipshit a moocher.

Why this simple fact evades people is beyond me.

Or they could cut spending to account for the loss of revenue.
What an idea!

 

[The Rabbi]

When you claim a deduction or a credit or an exemption on your taxes, you are acting rationally. You would be a fool to leave that money on the table.

But this makes you a Moocher. Make no mistake about it. Everyone has higher tax rates because of all those deductions, credits, and exemptions. This results in the insane outcome of people earning identical incomes paying differing amounts of tax.

The amount of tax expenditures has reached such an astronomical level (over $1.2 trillion a year) that the American people would not tolerate the tax rates that would be necessary to pay for them.

And so the money is borrowed. From China, and the Fed, and Japan, and Great Britain. The entire planet.

WE ARE A NATION OF MOOCHERS.

"Moocher" implies taking something that doesnt really belong to you. Keeping more of the money you made is not mooching.
We are a nation of idiots for electing people who promise more free shit and can't cut off spending because it gets them elected. This is because the vast majority of voters do not pay taxes.

 

[OnePercenter]

Nationalize Pfizer now! That'll teach future corporate-moocher tax-cheaters

Bam, way to go Pfizer.

If you were rational, you would have looked at that article and said to yourself, WTF, a US company wants to go to socialist Britain to escape taxes, we are going to far! Instead you took another swill of the kool-aid.

The CEO of Pfizer is........wait for it........British.

IMO, the real reason is that Pfizer has more criminal, fraud, repeat offender convictions than Koch Industries.

 

[The Rabbi]

Nationalize Pfizer now! That'll teach future corporate-moocher tax-cheaters

Bam, way to go Pfizer.

If you were rational, you would have looked at that article and said to yourself, WTF, a US company wants to go to socialist Britain to escape taxes, we are going to far! Instead you took another swill of the kool-aid.

The CEO of Pfizer is........wait for it........British.

IMO, the real reason is that Pfizer has more criminal, fraud, repeat offender convictions than Koch Industries.

And your opinion is based on?
Yeah, nothing. Just fantasies and vapors. Like everything else Dems believe. Who else would believe that a half-black/half white junior senator who spent most of his time campaigning and had never run anything in his life would make a great "first black president"?

 

[kaz]

Nationalize Pfizer now! That'll teach future corporate-moocher tax-cheaters

Bam, way to go Pfizer.

If you were rational, you would have looked at that article and said to yourself, WTF, a US company wants to go to socialist Britain to escape taxes, we are going to far! Instead you took another swill of the kool-aid.

The CEO of Pfizer is........wait for it........British.

And the relevance of that is what exactly? You don't know how companies operate if you think the CEO being British can just move them to Britain. Are you actually a bottom one percenter?

IMO, the real reason is that Pfizer has more criminal, fraud, repeat offender convictions than Koch Industries.

Sweeping, unsubstantiated accusations are all you have.