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

[Papageorgio]

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!

So you have no answer as to why Reid is blocking efforts to reform the tax code?

 

[OnePercenter]

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."

Businesses are taxed on profits MINUS the cost of sales.

 

[Toddsterpatriot]

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!!!!!

Corporations shouldn't get to deduct business expenses?

 

[OnePercenter]

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

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

So you have no answer as to why Reid is blocking efforts to reform the tax code?

I paid 3% effective Federal tax. Why would I want a change?

 

[OnePercenter]

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!!!!!

Corporations shouldn't get to deduct business expenses?

Why?

 

[Toddsterpatriot]

Businesses are taxed on profits MINUS the cost of sales.

Wrong. Cost of sales are deducted in order to calculate profit.
Costs aren't deducted twice.

 

[Toddsterpatriot]

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!!!!!

Corporations shouldn't get to deduct business expenses?

Why?

Corporations shouldn't get to deduct business expenses?

 

[Toro]

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

Businesses are taxed on profits MINUS the cost of sales.

Profits are minus all costs, including sales, administration, depreciation and interest.

 

[Toro]

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!!!!!

Corporations shouldn't get to deduct business expenses?

Why?

Because then you're not taxing profits. Profits by definition include all costs, including the cost of labor.

 

[OnePercenter]

Businesses are taxed on profits MINUS the cost of sales.

Wrong. Cost of sales are deducted in order to calculate profit.
Costs aren't deducted twice.

 

[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 ....

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

Along with the jobs .... The U.S. doesn't need their cash, we need the jobs brought home .... which is what the President is working on.

 

[OnePercenter]

Businesses are taxed on profits MINUS the cost of sales.

Profits are minus all costs, including sales, administration, depreciation and interest.

Yes, all costs.

 

[bripat9643]

Profits are minus all costs, including sales, administration, depreciation and interest.

Yes, all costs.

Did you have a point of some kind? Are you really this clueless.

The 16th Amendment allows the government to tax income, of all things. It doesn't allow the government to tax gross revenues.

Income is gross revenues minus expenses, that includes labor costs.

If you don't like the income tax, then get it amended. Otherwise, shut the fuck up.

You're making a fool of yourself.

 

[Toddsterpatriot]

Businesses are taxed on profits MINUS the cost of sales.

Wrong. Cost of sales are deducted in order to calculate profit.
Costs aren't deducted twice.

Yes, your confusion is crazy.

 

[Toro]

Profits are minus all costs, including sales, administration, depreciation and interest.

Yes, all costs.

Which is why labor isn't subsidized by the government. Taxes are on profits. Profits are after labor costs.

 

[Papageorgio]

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

So you have no answer as to why Reid is blocking efforts to reform the tax code?

I paid 3% effective Federal tax. Why would I want a change?

So Democratic Senate leader does not have the voters interest in mind.

 

[Papageorgio]

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



Boo hiss ....

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

Along with the jobs .... The U.S. doesn't need their cash, we need the jobs brought home .... which is what the President is working on.

So why did the title of the thread about taxes and not jobs?

 

[Meister]

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

Along with the jobs .... The U.S. doesn't need their cash, we need the jobs brought home .... which is what the President is working on.

So why did the title of the thread about taxes and not jobs?

I've noticed he derails his own threads a lot.

 

[Papageorgio]

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

So you have no answer as to why Reid is blocking efforts to reform the tax code?

I paid 3% effective Federal tax. Why would I want a change?

After reading your posts, I think you have no clue on economics and taxes.

 

[whitehall]

Obama targets big corporations. What else is new? The question is how he intends to ruin them. Democrats are all alike. If he can extort money he leaves them alone. Bill Clinton pardoned the most notorious corporate pirate in history for a donation to his library fund.