Awash In Record Profits, Corporations Shift Even More To Offshore Tax Havens

[emptystep]

It blows my mind on how they deny the obvious, they live in an alternative universe produced and sold by Faux Fake News. They defend these corporations who aren't paying their fair share of taxes with this STUPIDITIY of "I Built This" bullshit motto.

I'm with you on this one. If they are not personally benefiting from this why would anyone defend this. I don't think these people are directly benefiting from this so why defend this? I just don't get it either.

Also yesterday I watching 10 Republicans sit at a table and moan how they were trying to protect everyday Americans against the Democratic budget and when an amendment came up to end this every single one of them voted against it.

why would anyone defend this.

Why would anyone defend not handing over money to the government, unnecessarily?
You're joking, right?

Do you believe getting paid under the table is valid also?

 

[Toddsterpatriot]

I'm with you on this one. If they are not personally benefiting from this why would anyone defend this. I don't think these people are directly benefiting from this so why defend this? I just don't get it either.

Also yesterday I watching 10 Republicans sit at a table and moan how they were trying to protect everyday Americans against the Democratic budget and when an amendment came up to end this every single one of them voted against it.

why would anyone defend this.

Why would anyone defend not handing over money to the government, unnecessarily?
You're joking, right?

Do you believe getting paid under the table is valid also?

Company profits earned in Europe, for example, should pay American taxes? Why?

 

[EdwardBaiamonte]

They defend these corporations who aren't paying their fair share of taxes

corporations are tax collectors, not taxpayers. A tax like any expense is simply passed on to customers. Ever wonder why a Rolls Royce costs more than a VW?? Ans: The high costs of making it are passed on to customers.

A libturd wants higher corporate taxes only because he lacks the IQ to know he will paying them.

We have corporate taxes only to pander to the pure ignorance of liberal Marxists who have been brainwashed to hate the very corporations that provide our jobs, sell us Ipods and surgical robots to save our lives, and jet planes so we can vacation around the world.

See why we are 1000% positive a liberal will be slow, so very very slow.

You know, I have trying to figure you out ever since I saw your first post. I think I have got it. I am going to call Area 51 and have them do a roll call.

A libturd wants higher corporate taxes only because he lacks the IQ to know he will paying them.

 

[emptystep]

why would anyone defend this.

Why would anyone defend not handing over money to the government, unnecessarily?
You're joking, right?

Do you believe getting paid under the table is valid also?

Company profits earned in Europe, for example, should pay American taxes? Why?

We're not talking about profits earned in Europe. We are talking about earnings in America. Who said anything about Europe?

 

[emptystep]

corporations are tax collectors, not taxpayers. A tax like any expense is simply passed on to customers. Ever wonder why a Rolls Royce costs more than a VW?? Ans: The high costs of making it are passed on to customers.

A libturd wants higher corporate taxes only because he lacks the IQ to know he will paying them.

We have corporate taxes only to pander to the pure ignorance of liberal Marxists who have been brainwashed to hate the very corporations that provide our jobs, sell us Ipods and surgical robots to save our lives, and jet planes so we can vacation around the world.

See why we are 1000% positive a liberal will be slow, so very very slow.

You know, I have trying to figure you out ever since I saw your first post. I think I have got it. I am going to call Area 51 and have them do a roll call.

A libturd wants higher corporate taxes only because he lacks the IQ to know he will paying them.

Tough guy, eh? Dude, I saw Men in Black. You got one of those rubber suits to hide your true identity, don't ya?

 

[Toddsterpatriot]

Do you believe getting paid under the table is valid also?

Company profits earned in Europe, for example, should pay American taxes? Why?

We're not talking about profits earned in Europe. We are talking about earnings in America. Who said anything about Europe?

The OP is about corporate earnings overseas.

 

[Flopper]

Many decisions on location are based mainly on tax as opposed to other things.

Why in heck would Apple produce its IPhone 5 in China?

You pay Mike Smith $18/hour at the high-tech manufacturing plant in Arizona, or you pay Xiao Lin $18/day for the same work in Shenzhen.

This practice with holding money overseas has mainly to do with profits, not the direct costs of labor. US tax rules are such that profits generated by overseas subsidiaries are not taxed if the money isn't brought back to the US.

Multinational corporation can take advantage of low labor paying 12 years year-old kids to build their products in country A, sells the products to country B, which has a very low tax rate, then funnel the profits back to investors in country C and pay little or not tax.

 

[emptystep]

Company profits earned in Europe, for example, should pay American taxes? Why?

We're not talking about profits earned in Europe. We are talking about earnings in America. Who said anything about Europe?

The OP is about corporate earnings overseas.

You should learn to read. You had to go work in the shirt factory and was not able to finish high school? Reread the OP.

 

[Rshermr]

There is all kinds of factual information about large corps avoiding taxes in the us. It should not be hard to find out the methodologies that they use, should a person have any interest at all.
One of the most common, used by MANY corps, is to simply shift costs. So, if you have two divisions, one in the US and another in a low tax country, a corp can simply move costs to the us for products sold overseas. The net result is greater profit in the foreign country, and less profit in the us. And, the desired result for the corp of decreasing taxes in the us, and increasing them in the foreign division, where taxes may be very low or there may be no tax at all.

Here is an article about GE. There are MANY articles about this subject. So, it would be possible for those that say the problem is nonexistent, and just an issue pushed by liberals, to understand if they so desired, that this is an actual non partisan issue:

Its (General Electric's) extraordinary success is based on an aggressive strategy that mixes fierce lobbying for tax breaks and innovative accounting that enables it to concentrate its profits offshore. G.E.’s giant tax department, led by a bow-tied former Treasury official named John Samuels, is often referred to as the world’s best tax law firm. Indeed, the company’s slogan “Imagination at Work” fits this department well. The team includes former officials not just from the Treasury, but also from the I.R.S. and virtually all the tax-writing committees in Congress.

While General Electric is one of the most skilled at reducing its tax burden, many other companies have become better at this as well. Although the top corporate tax rate in the United States is 35 percent, one of the highest in the world, companies have been increasingly using a maze of shelters, tax credits and subsidies to pay far less.

In a regulatory filing just a week before the Japanese disaster put a spotlight on the company’s nuclear reactor business, G.E. reported that its tax burden was 7.4 percent of its American profits, about a third of the average reported by other American multinationals. Even those figures are overstated, because they include taxes that will be paid only if the company brings its overseas profits back to the United States. With those profits still offshore, G.E. is effectively getting money back.

 

[Toddsterpatriot]

We're not talking about profits earned in Europe. We are talking about earnings in America. Who said anything about Europe?

The OP is about corporate earnings overseas.

You should learn to read. You had to go work in the shirt factory and was not able to finish high school? Reread the OP.

I went to the source they used, because ThinkProgress is too stupid to trust.

"The practice is a result of U.S. tax rules that create incentives for companies to maximize the earnings, and holdings, of foreign subsidiaries. The law generally allows companies to not record or pay taxes on profits earned by overseas subsidiaries if the money isn't brought back to the U.S."

Try again? LOL!

 

[emptystep]

The OP is about corporate earnings overseas.

You should learn to read. You had to go work in the shirt factory and was not able to finish high school? Reread the OP.

I went to the source they used, because ThinkProgress is too stupid to trust.

"The practice is a result of U.S. tax rules that create incentives for companies to maximize the earnings, and holdings, of foreign subsidiaries. The law generally allows companies to not record or pay taxes on profits earned by overseas subsidiaries if the money isn't brought back to the U.S."

Try again? LOL!

From the same article you just referenced.

Within the group of 60 companies, the Journal found 10 that parked more earnings offshore last year than they generated for their bottom lines. They include Abbott Laboratories, whose store of untaxed overseas earnings rose by $8.1 billion, to $40 billion. The increase exceeded the pharmaceutical maker's net income of $6 billion, which was weighed down by a $1.4 billion charge related to early repayment of debt. Including that charge, Abbott reported a pretax loss on its U.S. operations.

An Abbott spokesman declined to comment.

So ignoring everything else everywhere except this one case. Do you think Abbott underpaid on their taxes?

 

[Toddsterpatriot]

You should learn to read. You had to go work in the shirt factory and was not able to finish high school? Reread the OP.

I went to the source they used, because ThinkProgress is too stupid to trust.

"The practice is a result of U.S. tax rules that create incentives for companies to maximize the earnings, and holdings, of foreign subsidiaries. The law generally allows companies to not record or pay taxes on profits earned by overseas subsidiaries if the money isn't brought back to the U.S."

Try again? LOL!

From the same article you just referenced.

Within the group of 60 companies, the Journal found 10 that parked more earnings offshore last year than they generated for their bottom lines. They include Abbott Laboratories, whose store of untaxed overseas earnings rose by $8.1 billion, to $40 billion. The increase exceeded the pharmaceutical maker's net income of $6 billion, which was weighed down by a $1.4 billion charge related to early repayment of debt. Including that charge, Abbott reported a pretax loss on its U.S. operations.

An Abbott spokesman declined to comment.

So ignoring everything else everywhere except this one case. Do you think Abbott underpaid on their taxes?

Abbott doesn't pay American taxes on overseas earnings.
Japanese companies don't pay Japanese taxes on US earnings.
European companies don't pay European taxes on US earnings or on Japanese earnings.
Don't you understand how these things work?

 

[emptystep]

I went to the source they used, because ThinkProgress is too stupid to trust.

"The practice is a result of U.S. tax rules that create incentives for companies to maximize the earnings, and holdings, of foreign subsidiaries. The law generally allows companies to not record or pay taxes on profits earned by overseas subsidiaries if the money isn't brought back to the U.S."

Try again? LOL!

From the same article you just referenced.

Within the group of 60 companies, the Journal found 10 that parked more earnings offshore last year than they generated for their bottom lines. They include Abbott Laboratories, whose store of untaxed overseas earnings rose by $8.1 billion, to $40 billion. The increase exceeded the pharmaceutical maker's net income of $6 billion, which was weighed down by a $1.4 billion charge related to early repayment of debt. Including that charge, Abbott reported a pretax loss on its U.S. operations.

An Abbott spokesman declined to comment.

So ignoring everything else everywhere except this one case. Do you think Abbott underpaid on their taxes?

Abbott doesn't pay American taxes on overseas earnings.
Japanese companies don't pay Japanese taxes on US earnings.
European companies don't pay European taxes on US earnings or on Japanese earnings.
Don't you understand how these things work?

Abbott locations world wide.

 

[EdwardBaiamonte]

You know, I have trying to figure you out ever since I saw your first post. I think I have got it. I am going to call Area 51 and have them do a roll call.

A libturd wants higher corporate taxes only because he lacks the IQ to know he will paying them.

Tough guy, eh? Dude, I saw Men in Black. You got one of those rubber suits to hide your true identity, don't ya?

A libturd wants higher corporate taxes only because he lacks the IQ to know he will paying them in higher prices that are passed on to him.
A corporation is a tax collector, not a tax payer!!

 

[william the wie]

A libturd wants higher corporate taxes only because he lacks the IQ to know he will paying them.

Tough guy, eh? Dude, I saw Men in Black. You got one of those rubber suits to hide your true identity, don't ya?

A libturd wants higher corporate taxes only because he lacks the IQ to know he will paying them in higher prices that are passed on to him.
A corporation is a tax collector, not a tax payer!!

Wrong. Progressive policies protect the elites and their idiot followers. Since you have no way of knowing whether the poster is a wealthy psychopath or a deluded idiot you are wrong at least some of the time in your blanket accusations.

 

[SteadyMercury]

A libturd wants higher corporate taxes only because he lacks the IQ to know he will paying them in higher prices that are passed on to him.

What is your IQ?

You seem really obsessed with the IQs of others since I see you making this accusation in about every other post, have you ever had your IQ measured? Are you really successful?

Just curious.

 

[EdwardBaiamonte]

Tough guy, eh? Dude, I saw Men in Black. You got one of those rubber suits to hide your true identity, don't ya?

A libturd wants higher corporate taxes only because he lacks the IQ to know he will paying them in higher prices that are passed on to him.
A corporation is a tax collector, not a tax payer!!

Wrong. Progressive policies protect the elites and their idiot followers. Since you have no way of knowing whether the poster is a wealthy psychopath or a deluded idiot you are wrong at least some of the time in your blanket accusations.

what???????????????

 

[EdwardBaiamonte]

You seem really obsessed with the IQs of others .

Just liberals, not others. My theory is that liberalism is based on pure ignorance, on stupid feelings that enable liberals to participate on a pretend basis and so feel relevant. It's like letting a kid with Downs Syndrome work at the supermarket.

Its easy enough to prove to. Ask a liberal to say something intelligent about a substantive political issue.

 

[Oddball]

Stock market up = Good.

Corporate profits up (which makes stock market go up) = Bad.

Hey lolberals!...Are corporate profits and the stock market good or bad?

Lolberals: YES!

 

[Rshermr]

Stock market up = Good.

Corporate profits up (which makes stock market go up) = Bad.

Hey lolberals!...Are corporate profits and the stock market good or bad?

Lolberals: YES!

Wow. Must be nice to have no bottom to the sea of stupidity in which you exist. And to have no limit to the stupid things that you can say. Being stupid in you book apparently is something to have pride in. Jesus, but you are irrelevant. And damned proud of it. And how cool you are to be able to be a non feedback organism.