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

[The Rabbi]

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.

So why is Harry Reid blocking any effort to reform the tax code?

 

[OnePercenter]

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.

Increasing minimum wage (which is the base for all salaries) to the levels it should be would increase middle class spending would create jobs.

 

[The Rabbi]

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.

Gee, Apple pays twice for that. Once on real estate taxes on property it owns and once from employees', who must pay for those same things on property they own.
Looks like a swing and a miss from the latest lame brain in USMB.

 

[The Rabbi]

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.

Increasing minimum wage (which is the base for all salaries) to the levels it should be would increase middle class spending would create jobs.

Every single statement in that is untrue. Amazing.

 

[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.

So why is Harry Reid blocking any effort to reform the tax code?

Why does it need to be reformed? I'm doing great!

 

[OnePercenter]

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.

Increasing minimum wage (which is the base for all salaries) to the levels it should be would increase middle class spending would create jobs.

Every single statement in that is untrue. Amazing.

So more people buying products wouldn't increase sales? And sales tax?

 

[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.

Increasing minimum wage (which is the base for all salaries) to the levels it should be would increase middle class spending would create jobs.

How is paying people more than they are worth going to create jobs?

 

[OnePercenter]

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.

Increasing minimum wage (which is the base for all salaries) to the levels it should be would increase middle class spending would create jobs.

How is paying people more than they are worth going to create jobs?

Since an employees wages are 100% subsidized, how can you set a worth?

 

[Toddsterpatriot]

Increasing minimum wage (which is the base for all salaries) to the levels it should be would increase middle class spending would create jobs.

How is paying people more than they are worth going to create jobs?

Since an employees wages are 100% subsidized, how can you set a worth?

Wages are 100% subsidized? What do you mean?

Let's see, how can you set a worth?
You'd have to look at productivity, value added, that sort of thing.
The things that government is really bad at doing.

 

[OnePercenter]

How is paying people more than they are worth going to create jobs?

Since an employees wages are 100% subsidized, how can you set a worth?

Wages are 100% subsidized? What do you mean?

Ask an employer who's complaining about their employee costs the effective rate of whom they complain.

Let's see, how can you set a worth?
You'd have to look at productivity, value added, that sort of thing.
The things that government is really bad at doing.

Wouldn't a retail store have a 100% employee worth?

 

[Toddsterpatriot]

Since an employees wages are 100% subsidized, how can you set a worth?

Ask an employer who's complaining about their employee costs the effective rate of whom they complain.

Let's see, how can you set a worth?
You'd have to look at productivity, value added, that sort of thing.
The things that government is really bad at doing.

Wouldn't a retail store have a 100% employee worth?

Ask an employer who's complaining about their employee costs the effective rate of whom they complain.

I'd rather hear your explanation that wages are 100% subsidized.

Wouldn't a retail store have a 100% employee worth?

Until the government forces them to pay more than the employee is worth.

 

[Toro]

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.

Transocean moved to Switzerland because the tax rate is 15%. Lower the corporate tax rate to 15% and that won't happen.

The offshore loopholes that Apple uses involves transferring intellectual property through shell corporations in low or no tax jurisdictions such as Ireland and the Caymans. They don't have to relocate. That can be shut down by Congress.

 

[drivebymedia]

Bush and the Republicans give companies a zero tax on foreign profits, until they bring the profits home.

So.....

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.

And why in god's name would a sane American company want to raise the $7.25 minimum wage when that sane company can get the work done in Ireland for $1.25 and Bangladesh for 35 cents - and pay no U.S. tax on profits?

Doesn't make sense, eh?

 

[Toro]

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

Why?

Why not?

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?

Effective Corporate taxes are low because the nominal rate is so high, which incentivizes companies to engage in tax avoidance behavior by finding loopholes or lobbying lawmakers. Lower the tax rate and that falls dramatically.

 

[OnePercenter]

Ask an employer who's complaining about their employee costs the effective rate of whom they complain.



Wouldn't a retail store have a 100% employee worth?

Ask an employer who's complaining about their employee costs the effective rate of whom they complain.

I'd rather hear your explanation that wages are 100% subsidized.

Wouldn't a retail store have a 100% employee worth?

Until the government forces them to pay more than the employee is worth.

Employee costs are 100% deductible. In economy, a subsidy is any monetary contribution, grant, or aid. Deductions are aids.

The government 'forces' business to make more than employee costs? Thank you government!!!!!

 

[drivebymedia]

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

America does not tax overseas profits until those profits are brought home, that's why .....

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.

Boo hiss ....

 

[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.

Transocean moved to Switzerland because the tax rate is 15%. Lower the corporate tax rate to 15% and that won't happen.

The offshore loopholes that Apple uses involves transferring intellectual property through shell corporations in low or no tax jurisdictions such as Ireland and the Caymans. They don't have to relocate. That can be shut down by Congress.

Lower the corporate tax rates to 15% and corporations will pay zero.

 

[Toro]

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.

Transocean moved to Switzerland because the tax rate is 15%. Lower the corporate tax rate to 15% and that won't happen.

The offshore loopholes that Apple uses involves transferring intellectual property through shell corporations in low or no tax jurisdictions such as Ireland and the Caymans. They don't have to relocate. That can be shut down by Congress.

Lower the corporate tax rates to 15% and corporations will pay zero.

Why?

Shut the offshore loopholes.

 

[Toro]

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

America does not tax overseas profits until those profits are brought home, that's why .....

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.

Boo hiss ....

Most countries don't tax foreign income once its brought home. The US does. So US cash sits offshore.

 

[Toro]

Ask an employer who's complaining about their employee costs the effective rate of whom they complain.

I'd rather hear your explanation that wages are 100% subsidized.

Wouldn't a retail store have a 100% employee worth?

Until the government forces them to pay more than the employee is worth.

Employee costs are 100% deductible. In economy, a subsidy is any monetary contribution, grant, or aid. Deductions are aids.

The government 'forces' business to make more than employee costs? Thank you government!!!!!

Businesses are taxed on profits, not sales. What you are implying is that companies should be taxed on sales and all costs are "subsidized."