Obama Target: Biggest U.S. Firms Park $1.2 Trillion in Profits Offshore

[Avorysuds]

Note: Bush and Republicans tax breaks caused 8 million jobs to be outsourced.

The report of the top 100 U.S. publicly traded companies, found that 82 of the 100 companies maintain subsidiaries in low-tax jurisdictions located abroad.

Jobs .... outsourced .... 8 million

If the economy being shit after Obamacare and the Obama stimulus were done, but Obama and his fan-boi supporters get to claim Obama saved the US from a depression... Then Bush and his fan-boi supporters can claim without the Bush era tax cuts the US would have lost 25 million jobs to outsourcing and that Bush really saved the country from a depression as well.

You can't claim otherwise because that's the hard part about debating with fan-bois who credit their Demi-Gods with shit that never actually happened.

 

[Avorysuds]

And to be clear, Obama's plan to get more money moving, create more jobs and create a successful environment for business is to..... cut taxes? And the OP supports this very ultra conservative/libertarian stance?

Of course Obama wants to lower that tax an insignificant amount and only do so as part of a "deal" to get more deficit building stimulus, but whatever right? It makes the mindless go into a frenzy cheering Obama on!

 

[drivebymedia]

Window dressing.
No real political will here from the Prez who initially hired Bush's economic team.

No political will on either side to curb overseas profits.

But Obama is willing to sacrifice the overseas profits for bringing home the jobs ....

Yes we must curb profits. How dare companies make money, which they can use to hire workers, engage in research, or buy capital goods. Only the gov't can do those things!

No one wants to curb profits, but every one wants those profits to be taxed fairly.

It's the American way...

Under the Bush Tax law, overseas profits are not taxed at all - let alone fairly.

 

[Toro]

It's unfair that every other developed nation doesn't tax overseas profits but America does.

It's unfair that the US has the highest corporate tax rate in the developed world.

Lets make the tax code fair and stop the double taxation of overseas profits at the highest rate of all our peers.

 

[OnePercenter]

Slash corporate taxes.

Stop taxing overseas profits, like they do in every other country.

Close the offshore loopholes.

Apple paid 11% effective Federal taxes on ALL (domestic and foreign) income last year. About the same as you did. Apple uses the same services as you do. Apple gets a subsidy for those services. You don't. How much should Apple be paying?

Can't close off shore loopholes. Companies will do a Halliburton and move to the UAE.

 

[OnePercenter]

It's unfair that every other developed nation doesn't tax overseas profits but America does.

Why?

It's unfair that the US has the highest corporate tax rate in the developed world.

But we have the lowest (effective) rate.

Lets make the tax code fair and stop the double taxation of overseas profits at the highest rate of all our peers.

Double taxation? Hows that work?

 

[OnePercenter]

Considering that those profits were earned outside of the U.S. and the punitive nature of our tax code, it's perfectly logical and ethical that the funds remain off shore.

But what is Obama's Grant Bargain proposal? Lower tax rates for large corporations to 28%, while leaving the tax rate on small business is at 39.6%.

More Big Government Cronyism to crush Main Street...thank Obama!

So lets talk ACTUAL numbers. Effective rate. Effective corporate tax rate is 12% in the US for all companies.

 

[bripat9643]

Note: Bush and Republicans tax breaks caused 8 million jobs to be outsourced.

The report of the top 100 U.S. publicly traded companies, found that 82 of the 100 companies maintain subsidiaries in low-tax jurisdictions located abroad.

Jobs .... outsourced .... 8 million

You keep saying this, but you can't quote the bill congress passed that caused companies to outsource. Which bill was it? Quote the provisions that encourage outsourcing.

 

[bripat9643]

Slash corporate taxes.

Stop taxing overseas profits, like they do in every other country.

Close the offshore loopholes.

Apple paid 11% effective Federal taxes on ALL (domestic and foreign) income last year. About the same as you did. Apple uses the same services as you do. Apple gets a subsidy for those services. You don't. How much should Apple be paying?

Can't close off shore loopholes. Companies will do a Halliburton and move to the UAE.

You're mixing their domestic taxes with their foreign taxes and simultaneously arguing that they keep their profits overseas because their domestic taxes are higher than their foreign taxes.

Only morons fall for logic like that.

 

[OnePercenter]

WASHINGTON—The biggest U.S. companies, including General Electric Co. GE +0.80%and Apple Inc., AAPL -0.56%are parking nearly $1.2 trillion in profits offshore, according to a new report from a liberal advocacy group.

The report by U.S. PIRG, which analyzed the public filings of the top 100 U.S. publicly traded companies, also found that 82 companies maintain subsidiaries in low-tax jurisdictions located abroad.


Big U.S. Companies Park $1.2 Trillion in Profits Offshore, Study Finds - WSJ.com


Bad boys ....

they are doing nothing illegal, immoral, or unethical---------the money is offshore because the US govt is determined to punish success and reward failure.

By taxing the same effective rate as you? When they use the same services as you?

 

[bripat9643]

WASHINGTON—The biggest U.S. companies, including General Electric Co. GE +0.80%and Apple Inc., AAPL -0.56%are parking nearly $1.2 trillion in profits offshore, according to a new report from a liberal advocacy group.

The report by U.S. PIRG, which analyzed the public filings of the top 100 U.S. publicly traded companies, also found that 82 companies maintain subsidiaries in low-tax jurisdictions located abroad.


Big U.S. Companies Park $1.2 Trillion in Profits Offshore, Study Finds - WSJ.com


Bad boys ....

they are doing nothing illegal, immoral, or unethical---------the money is offshore because the US govt is determined to punish success and reward failure.

By taxing the same effective rate as you? When they use the same services as you?

Welfare isn't a service. It's armed robbery.

 

[OnePercenter]

Slash corporate taxes.

Stop taxing overseas profits, like they do in every other country.

Close the offshore loopholes.

Apple paid 11% effective Federal taxes on ALL (domestic and foreign) income last year. About the same as you did. Apple uses the same services as you do. Apple gets a subsidy for those services. You don't. How much should Apple be paying?

Can't close off shore loopholes. Companies will do a Halliburton and move to the UAE.

You're mixing their domestic taxes with their foreign taxes and simultaneously arguing that they keep their profits overseas because their domestic taxes are higher than their foreign taxes.

Only morons fall for logic like that.

Read on. Pay attention to the 'double Irish' and the Nevada loophole which I use.

http://www.nytimes.com/2013/01/04/b...giants-tax-strategies-nears-an-end.html?_r=1&

 

[bripat9643]

Apple paid 11% effective Federal taxes on ALL (domestic and foreign) income last year. About the same as you did. Apple uses the same services as you do. Apple gets a subsidy for those services. You don't. How much should Apple be paying?

Can't close off shore loopholes. Companies will do a Halliburton and move to the UAE.

You're mixing their domestic taxes with their foreign taxes and simultaneously arguing that they keep their profits overseas because their domestic taxes are higher than their foreign taxes.

Only morons fall for logic like that.

Read on. Pay attention to the 'double Irish' and the Nevada loophole which I use.

http://www.nytimes.com/2013/01/04/b...giants-tax-strategies-nears-an-end.html?_r=1&

You already stated that Apple paid 11% tax rate on all DOMESTIC AND FOREIGN INCOME

What are you confused about?

 

[OnePercenter]

they are doing nothing illegal, immoral, or unethical---------the money is offshore because the US govt is determined to punish success and reward failure.

By taxing the same effective rate as you? When they use the same services as you?

Welfare isn't a service. It's armed robbery.

Police, Fire, roads, water, power, etc.

Welfare is caused by people voting Republican.

 

[bripat9643]

By taxing the same effective rate as you? When they use the same services as you?

Welfare isn't a service. It's armed robbery.

Police, Fire, roads, water, power, etc.

Welfare is caused by people voting Republican.

Police, Fire, roads and water don't amount to 10% of what I pay in taxes. The rest is welfare. Power is supplied by private companies. Your power bill isn't a tax.

 

[Billo_Really]

WASHINGTON—The biggest U.S. companies, including General Electric Co. GE +0.80%and Apple Inc., AAPL -0.56%are parking nearly $1.2 trillion in profits offshore, according to a new report from a liberal advocacy group.

The report by U.S. PIRG, which analyzed the public filings of the top 100 U.S. publicly traded companies, also found that 82 companies maintain subsidiaries in low-tax jurisdictions located abroad.


Big U.S. Companies Park $1.2 Trillion in Profits Offshore, Study Finds - WSJ.com


Bad boys ....

That's why I started a thread calling for a global tax system. We need to go after that money and get what's owed to us. We need to treat those profits, much like we do terrorists. Make it so there is no place on earth a company can go to hide it's tax burden.

 

[Billo_Really]

Police, Fire, roads and water don't amount to 10% of what I pay in taxes. The rest is welfare. Power is supplied by private companies. Your power bill isn't a tax.

The problem is, the "rest" you're referring to, is corporate welfare.

 

[OnePercenter]

You're mixing their domestic taxes with their foreign taxes and simultaneously arguing that they keep their profits overseas because their domestic taxes are higher than their foreign taxes.

Only morons fall for logic like that.

Read on. Pay attention to the 'double Irish' and the Nevada loophole which I use.

http://www.nytimes.com/2013/01/04/b...giants-tax-strategies-nears-an-end.html?_r=1&

You already stated that Apple paid 11% tax rate on all DOMESTIC AND FOREIGN INCOME

What are you confused about?

Confused? Even if you add any foreign taxes, Apple remains at 11% effective.

 

[OnePercenter]

Welfare isn't a service. It's armed robbery.

Police, Fire, roads, water, power, etc.

Welfare is caused by people voting Republican.

Police, Fire, roads and water don't amount to 10% of what I pay in taxes. The rest is welfare. Power is supplied by private companies. Your power bill isn't a tax.

Really? Why don't you break it down for us.

Power (in some areas) is provided by private companies. Power infrastructure is subsidized.

 

[Toddsterpatriot]

Note: Bush and Republicans tax breaks caused 8 million jobs to be outsourced.

The report of the top 100 U.S. publicly traded companies, found that 82 of the 100 companies maintain subsidiaries in low-tax jurisdictions located abroad.

Jobs .... outsourced .... 8 million

Lowering taxes in the US would cause more jobs to be created here.

Only idiots think tax cuts cause jobs to be lost here.

Oh, there you are.