Taxing the wealthy more will have little to no impact on your life or anyone around you

[Rustic]

That's because they lost money.

Or "made it" in the Cayman's or Ireland, like Apple did right?


Ireland to close Apple's tax loophole, but leave bigger one open


Ireland said on Tuesday it planned to shut down a much-criticized tax arrangement used by Apple Inc to shelter over $40 billion from taxation - but will leave open an even bigger loophole that means the computer giant is unlikely to pay any more tax.

Ireland to close Apple's tax loophole, but leave bigger one open

Why should Apple, or any corporation, pay taxes on income it didn't earn in the United States?

They don't need to, but HONESTY dictates YOU admitting they didn't "earn" $40 billion in Ireland, lol


INTELLECTUAL profits are counted in low tax nations. Cool right? JUST DON'T TRY TO BRING IT BACK WITHOUT PAYING US TAXES ON IT!!

Honesty doesn't dictate anything of the sort. If the IRS could prove they didn't earn the money in Ireland, don't you think the IRS would have audited Apple and charged them for any taxes they owed?

Tax Dodge: Apple, Pfizer Among Top Companies That Added Nearly $90B To Their Offshore Cash Hoards Through Tax Inversion In 2014


...Last year, U.S. companies added $154.5 billion to their cash hoard in subsidiaries established in well-known tax haven countries like the Cayman Islands and Luxembourg, according to company data compiled by Bloomberg in a report published Wednesday. A little more than $2.09 trillion from hundreds of U.S. companies now sits outside of the reach of the Internal Revenue Service in countries that charge little to no taxes on corporate earnings made outside their borders.



Companies with substantial international operations or that earn money from intellectual property are more likely to take advantage of the tax loophole. Global industrial heavyweight General Electric has long held the top slot as the biggest tax inverter, at $119 billion. The company uses this cash to reinvest in its massive global business operations, including oil and gas equipment, home appliances and power and water systems.

Tax Dodge: Apple, Pfizer Among Top Companies That Added Nearly $90B To Their Offshore Cash Hoards Through Tax Inversion In 2014

Only a stupid company would want to pay the tax set by this federal government...

 

[JonK]

Or "made it" in the Cayman's or Ireland, like Apple did right?


Ireland to close Apple's tax loophole, but leave bigger one open


Ireland said on Tuesday it planned to shut down a much-criticized tax arrangement used by Apple Inc to shelter over $40 billion from taxation - but will leave open an even bigger loophole that means the computer giant is unlikely to pay any more tax.

Ireland to close Apple's tax loophole, but leave bigger one open

Why should Apple, or any corporation, pay taxes on income it didn't earn in the United States?

They don't need to, but HONESTY dictates YOU admitting they didn't "earn" $40 billion in Ireland, lol


INTELLECTUAL profits are counted in low tax nations. Cool right? JUST DON'T TRY TO BRING IT BACK WITHOUT PAYING US TAXES ON IT!!

That means they won't be bringing it back. Yeah, that sure is smart government policy!

Cool. Either they pay for Gov't or let them keep it offshore. Simple.

Yeah, that will create a lot of jobs in this country.

It's sad that you're so stupid you can't see the flaw in your plan.

Jobs? lol


A Repatriation Holiday Would Not Create Jobs

Repatriation Holiday Would Not Increase Investment or Job Creation

According to one estimate, U.S. businesses hold accumulated foreign earnings of almost $2 trillion offshore.[5] Many businesses leave a large portion of those earnings abroad to pursue new opportunities in growing foreign markets. However, they undoubtedly also leave a substantial remaining portion abroad to logically delay payment of the U.S. tax.


Businesses, like individuals, respond to incentives. If the U.S. offered a repatriation holiday, businesses would no doubt bring large amounts of foreign earnings back to the U.S. to reduce their deferred tax liability. Indeed, the last time the U.S. offered a repatriation holiday in 2004 businesses brought back $362 billion.

However, the holiday did not have the anticipated positive economic benefit


Repatriation Holiday Is Backward Looking

Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued.

RIGHT WING HERITAGE


A Repatriation Holiday Would Not Create Jobs

 

[JonK]

Or "made it" in the Cayman's or Ireland, like Apple did right?


Ireland to close Apple's tax loophole, but leave bigger one open


Ireland said on Tuesday it planned to shut down a much-criticized tax arrangement used by Apple Inc to shelter over $40 billion from taxation - but will leave open an even bigger loophole that means the computer giant is unlikely to pay any more tax.

Ireland to close Apple's tax loophole, but leave bigger one open

Why should Apple, or any corporation, pay taxes on income it didn't earn in the United States?

They don't need to, but HONESTY dictates YOU admitting they didn't "earn" $40 billion in Ireland, lol


INTELLECTUAL profits are counted in low tax nations. Cool right? JUST DON'T TRY TO BRING IT BACK WITHOUT PAYING US TAXES ON IT!!

Honesty doesn't dictate anything of the sort. If the IRS could prove they didn't earn the money in Ireland, don't you think the IRS would have audited Apple and charged them for any taxes they owed?

Tax Dodge: Apple, Pfizer Among Top Companies That Added Nearly $90B To Their Offshore Cash Hoards Through Tax Inversion In 2014


...Last year, U.S. companies added $154.5 billion to their cash hoard in subsidiaries established in well-known tax haven countries like the Cayman Islands and Luxembourg, according to company data compiled by Bloomberg in a report published Wednesday. A little more than $2.09 trillion from hundreds of U.S. companies now sits outside of the reach of the Internal Revenue Service in countries that charge little to no taxes on corporate earnings made outside their borders.



Companies with substantial international operations or that earn money from intellectual property are more likely to take advantage of the tax loophole. Global industrial heavyweight General Electric has long held the top slot as the biggest tax inverter, at $119 billion. The company uses this cash to reinvest in its massive global business operations, including oil and gas equipment, home appliances and power and water systems.

Tax Dodge: Apple, Pfizer Among Top Companies That Added Nearly $90B To Their Offshore Cash Hoards Through Tax Inversion In 2014

Only a stupid company would want to pay the tax set by this federal government...

Yep, REAL patriots you CONS are

 

[Ray From Cleveland]

Why should Apple, or any corporation, pay taxes on income it didn't earn in the United States?

They don't need to, but HONESTY dictates YOU admitting they didn't "earn" $40 billion in Ireland, lol


INTELLECTUAL profits are counted in low tax nations. Cool right? JUST DON'T TRY TO BRING IT BACK WITHOUT PAYING US TAXES ON IT!!

That means they won't be bringing it back. Yeah, that sure is smart government policy!

Cool. Either they pay for Gov't or let them keep it offshore. Simple.

Yeah, that will create a lot of jobs in this country.

It's sad that you're so stupid you can't see the flaw in your plan.

Jobs? lol


A Repatriation Holiday Would Not Create Jobs

Repatriation Holiday Would Not Increase Investment or Job Creation

According to one estimate, U.S. businesses hold accumulated foreign earnings of almost $2 trillion offshore.[5] Many businesses leave a large portion of those earnings abroad to pursue new opportunities in growing foreign markets. However, they undoubtedly also leave a substantial remaining portion abroad to logically delay payment of the U.S. tax.


Businesses, like individuals, respond to incentives. If the U.S. offered a repatriation holiday, businesses would no doubt bring large amounts of foreign earnings back to the U.S. to reduce their deferred tax liability. Indeed, the last time the U.S. offered a repatriation holiday in 2004 businesses brought back $362 billion.

However, the holiday did not have the anticipated positive economic benefit


Repatriation Holiday Is Backward Looking

Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued.

RIGHT WING HERITAGE


A Repatriation Holiday Would Not Create Jobs

So keep the money overseas. It couldn't possibly do anything for us here in the US.

 

[JonK]

They don't need to, but HONESTY dictates YOU admitting they didn't "earn" $40 billion in Ireland, lol


INTELLECTUAL profits are counted in low tax nations. Cool right? JUST DON'T TRY TO BRING IT BACK WITHOUT PAYING US TAXES ON IT!!

That means they won't be bringing it back. Yeah, that sure is smart government policy!

Cool. Either they pay for Gov't or let them keep it offshore. Simple.

Yeah, that will create a lot of jobs in this country.

It's sad that you're so stupid you can't see the flaw in your plan.

Jobs? lol


A Repatriation Holiday Would Not Create Jobs

Repatriation Holiday Would Not Increase Investment or Job Creation

According to one estimate, U.S. businesses hold accumulated foreign earnings of almost $2 trillion offshore.[5] Many businesses leave a large portion of those earnings abroad to pursue new opportunities in growing foreign markets. However, they undoubtedly also leave a substantial remaining portion abroad to logically delay payment of the U.S. tax.


Businesses, like individuals, respond to incentives. If the U.S. offered a repatriation holiday, businesses would no doubt bring large amounts of foreign earnings back to the U.S. to reduce their deferred tax liability. Indeed, the last time the U.S. offered a repatriation holiday in 2004 businesses brought back $362 billion.

However, the holiday did not have the anticipated positive economic benefit


Repatriation Holiday Is Backward Looking

Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued.

RIGHT WING HERITAGE


A Repatriation Holiday Would Not Create Jobs

So keep the money overseas. It couldn't possibly do anything for us here in the US.

RIGHT WING HERITAGE AGREES



Repatriation Holiday Is Backward Looking

Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued. Businesses decided how to invest or distribute the after-tax profits when they earned them. Eliminating previously accrued tax liability would not change decisions that were made long ago.

It would, however, create a tax windfall for the businesses that repatriate funds, because it would remove the accrued foreign tax liability from their financial statements. This would improve these businesses’ financial standing and benefit current management, but it would do nothing to make profitable potential investments that the worldwide system currently makes unprofitable. Nor would a holiday create new opportunities for businesses to invest.


A Repatriation Holiday Would Not Create Jobs

 

[Arianrhod]

I already explained it: we bombed the rest of the industrial world into the stone age during WW II.

Too bad that didn't work for you in Iraq, huh? Hoping for another chance in Iran?

 

[rdean]

Taxing the wealthy more will have little to no impact on your life or anyone around you


Did you get your job from a poor person?

If you tax away enough of the wealthy's money, what do you think they will have to cut as a result?

Yet we have had much stronger economies when the rich were being taxed more.

Are you stupid??
The more the wealthy businesses are taxed, they just pass expense onto their service/products.

Are you saying we haven't had much stronger economies when the rich were being taxed more? Because we have, it is a fact.

Yeah, we had a real strong economy in the 1930s.

The 30's was a direct result of 20's deregulation. Worked then and it worked under Bush.

 

[Rustic]

Why should Apple, or any corporation, pay taxes on income it didn't earn in the United States?

They don't need to, but HONESTY dictates YOU admitting they didn't "earn" $40 billion in Ireland, lol


INTELLECTUAL profits are counted in low tax nations. Cool right? JUST DON'T TRY TO BRING IT BACK WITHOUT PAYING US TAXES ON IT!!

Honesty doesn't dictate anything of the sort. If the IRS could prove they didn't earn the money in Ireland, don't you think the IRS would have audited Apple and charged them for any taxes they owed?

Tax Dodge: Apple, Pfizer Among Top Companies That Added Nearly $90B To Their Offshore Cash Hoards Through Tax Inversion In 2014


...Last year, U.S. companies added $154.5 billion to their cash hoard in subsidiaries established in well-known tax haven countries like the Cayman Islands and Luxembourg, according to company data compiled by Bloomberg in a report published Wednesday. A little more than $2.09 trillion from hundreds of U.S. companies now sits outside of the reach of the Internal Revenue Service in countries that charge little to no taxes on corporate earnings made outside their borders.



Companies with substantial international operations or that earn money from intellectual property are more likely to take advantage of the tax loophole. Global industrial heavyweight General Electric has long held the top slot as the biggest tax inverter, at $119 billion. The company uses this cash to reinvest in its massive global business operations, including oil and gas equipment, home appliances and power and water systems.

Tax Dodge: Apple, Pfizer Among Top Companies That Added Nearly $90B To Their Offshore Cash Hoards Through Tax Inversion In 2014

Only a stupid company would want to pay the tax set by this federal government...

Yep, REAL patriots you CONS are

Taxation without representation...

 

[JonK]

They don't need to, but HONESTY dictates YOU admitting they didn't "earn" $40 billion in Ireland, lol


INTELLECTUAL profits are counted in low tax nations. Cool right? JUST DON'T TRY TO BRING IT BACK WITHOUT PAYING US TAXES ON IT!!

Honesty doesn't dictate anything of the sort. If the IRS could prove they didn't earn the money in Ireland, don't you think the IRS would have audited Apple and charged them for any taxes they owed?

Tax Dodge: Apple, Pfizer Among Top Companies That Added Nearly $90B To Their Offshore Cash Hoards Through Tax Inversion In 2014


...Last year, U.S. companies added $154.5 billion to their cash hoard in subsidiaries established in well-known tax haven countries like the Cayman Islands and Luxembourg, according to company data compiled by Bloomberg in a report published Wednesday. A little more than $2.09 trillion from hundreds of U.S. companies now sits outside of the reach of the Internal Revenue Service in countries that charge little to no taxes on corporate earnings made outside their borders.



Companies with substantial international operations or that earn money from intellectual property are more likely to take advantage of the tax loophole. Global industrial heavyweight General Electric has long held the top slot as the biggest tax inverter, at $119 billion. The company uses this cash to reinvest in its massive global business operations, including oil and gas equipment, home appliances and power and water systems.

Tax Dodge: Apple, Pfizer Among Top Companies That Added Nearly $90B To Their Offshore Cash Hoards Through Tax Inversion In 2014

Only a stupid company would want to pay the tax set by this federal government...

Yep, REAL patriots you CONS are

Taxation without representation...

Grow up, they have bought more representation in DC than you and I have!

 

[Wyatt earp]

Why should Apple, or any corporation, pay taxes on income it didn't earn in the United States?

They don't need to, but HONESTY dictates YOU admitting they didn't "earn" $40 billion in Ireland, lol


INTELLECTUAL profits are counted in low tax nations. Cool right? JUST DON'T TRY TO BRING IT BACK WITHOUT PAYING US TAXES ON IT!!

That means they won't be bringing it back. Yeah, that sure is smart government policy!

Cool. Either they pay for Gov't or let them keep it offshore. Simple.

Yeah, that will create a lot of jobs in this country.

It's sad that you're so stupid you can't see the flaw in your plan.

Jobs? lol


A Repatriation Holiday Would Not Create Jobs

Repatriation Holiday Would Not Increase Investment or Job Creation

According to one estimate, U.S. businesses hold accumulated foreign earnings of almost $2 trillion offshore.[5] Many businesses leave a large portion of those earnings abroad to pursue new opportunities in growing foreign markets. However, they undoubtedly also leave a substantial remaining portion abroad to logically delay payment of the U.S. tax.


Businesses, like individuals, respond to incentives. If the U.S. offered a repatriation holiday, businesses would no doubt bring large amounts of foreign earnings back to the U.S. to reduce their deferred tax liability. Indeed, the last time the U.S. offered a repatriation holiday in 2004 businesses brought back $362 billion.

However, the holiday did not have the anticipated positive economic benefit


Repatriation Holiday Is Backward Looking

Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued.

RIGHT WING HERITAGE


A Repatriation Holiday Would Not Create Jobs

ya do know even Harry Reid was coming up with a plan for a New tax holiday right "dip shit that didn't know we bombed the rest of the industrial world into the stone age in WWII "



Idea for Corporate Tax Holiday Gains Bipartisan Traction in Senate

 

[JonK]

They don't need to, but HONESTY dictates YOU admitting they didn't "earn" $40 billion in Ireland, lol


INTELLECTUAL profits are counted in low tax nations. Cool right? JUST DON'T TRY TO BRING IT BACK WITHOUT PAYING US TAXES ON IT!!

That means they won't be bringing it back. Yeah, that sure is smart government policy!

Cool. Either they pay for Gov't or let them keep it offshore. Simple.

Yeah, that will create a lot of jobs in this country.

It's sad that you're so stupid you can't see the flaw in your plan.

Jobs? lol


A Repatriation Holiday Would Not Create Jobs

Repatriation Holiday Would Not Increase Investment or Job Creation

According to one estimate, U.S. businesses hold accumulated foreign earnings of almost $2 trillion offshore.[5] Many businesses leave a large portion of those earnings abroad to pursue new opportunities in growing foreign markets. However, they undoubtedly also leave a substantial remaining portion abroad to logically delay payment of the U.S. tax.


Businesses, like individuals, respond to incentives. If the U.S. offered a repatriation holiday, businesses would no doubt bring large amounts of foreign earnings back to the U.S. to reduce their deferred tax liability. Indeed, the last time the U.S. offered a repatriation holiday in 2004 businesses brought back $362 billion.

However, the holiday did not have the anticipated positive economic benefit


Repatriation Holiday Is Backward Looking

Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued.

RIGHT WING HERITAGE


A Repatriation Holiday Would Not Create Jobs

ya do know even Harry Reid was coming up with a plan for a New tax holiday right "dip shit that didn't know we bombed the rest of the industrial world into the stone age in WWII "



Idea for Corporate Tax Holiday Gains Bipartisan Traction in Senate

So NO, you can't refute Heritage INSTEAD prefer a strawman.


Studies: Raise capital gains tax rates to lower income inequality

 

[Wyatt earp]

That means they won't be bringing it back. Yeah, that sure is smart government policy!

Cool. Either they pay for Gov't or let them keep it offshore. Simple.

Yeah, that will create a lot of jobs in this country.

It's sad that you're so stupid you can't see the flaw in your plan.

Jobs? lol


A Repatriation Holiday Would Not Create Jobs

Repatriation Holiday Would Not Increase Investment or Job Creation

According to one estimate, U.S. businesses hold accumulated foreign earnings of almost $2 trillion offshore.[5] Many businesses leave a large portion of those earnings abroad to pursue new opportunities in growing foreign markets. However, they undoubtedly also leave a substantial remaining portion abroad to logically delay payment of the U.S. tax.


Businesses, like individuals, respond to incentives. If the U.S. offered a repatriation holiday, businesses would no doubt bring large amounts of foreign earnings back to the U.S. to reduce their deferred tax liability. Indeed, the last time the U.S. offered a repatriation holiday in 2004 businesses brought back $362 billion.

However, the holiday did not have the anticipated positive economic benefit


Repatriation Holiday Is Backward Looking

Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued.

RIGHT WING HERITAGE


A Repatriation Holiday Would Not Create Jobs

ya do know even Harry Reid was coming up with a plan for a New tax holiday right "dip shit that didn't know we bombed the rest of the industrial world into the stone age in WWII "



Idea for Corporate Tax Holiday Gains Bipartisan Traction in Senate

So NO, you can't refute Heritage INSTEAD prefer a strawman.


Studies: Raise capital gains tax rates to lower income inequality

Ya do know who Harry Reid is right?

And hopefully (but by judging by your post I doubt it) know what the word Bi partisan means....

Btw take anything from Berkley and the Heritage foundation and shove it up your ass... Just saying

I can't stand either or ...

 

[JonK]

Cool. Either they pay for Gov't or let them keep it offshore. Simple.

Yeah, that will create a lot of jobs in this country.

It's sad that you're so stupid you can't see the flaw in your plan.

Jobs? lol


A Repatriation Holiday Would Not Create Jobs

Repatriation Holiday Would Not Increase Investment or Job Creation

According to one estimate, U.S. businesses hold accumulated foreign earnings of almost $2 trillion offshore.[5] Many businesses leave a large portion of those earnings abroad to pursue new opportunities in growing foreign markets. However, they undoubtedly also leave a substantial remaining portion abroad to logically delay payment of the U.S. tax.


Businesses, like individuals, respond to incentives. If the U.S. offered a repatriation holiday, businesses would no doubt bring large amounts of foreign earnings back to the U.S. to reduce their deferred tax liability. Indeed, the last time the U.S. offered a repatriation holiday in 2004 businesses brought back $362 billion.

However, the holiday did not have the anticipated positive economic benefit


Repatriation Holiday Is Backward Looking

Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued.

RIGHT WING HERITAGE


A Repatriation Holiday Would Not Create Jobs

ya do know even Harry Reid was coming up with a plan for a New tax holiday right "dip shit that didn't know we bombed the rest of the industrial world into the stone age in WWII "



Idea for Corporate Tax Holiday Gains Bipartisan Traction in Senate

So NO, you can't refute Heritage INSTEAD prefer a strawman.


Studies: Raise capital gains tax rates to lower income inequality

Ya do know who Harry Reid is right?

And hopefully (but by judging by your post I doubt it) know what the word Bi partisan means....

Btw take anything from Berkley and the Heritage foundation and shove it up your ass... Just saying

I can't stand either or ...

Report: Repatriation Tax Holiday a 'Failed' Policy

The report warned against repeating the tax break, calling the 2004 effort "a failed tax policy" that cost the U.S. Treasury $3.3 billion in estimated lost revenues over 10 years and led to U.S. companies directing more funds offshore. U.S.-based multinationals often defer bringing back profits earned abroad to avoid paying U.S. taxes on them.

The 15 companies that repatriated the most after the 2004 tax break on the return of overseas profits later cut a net 20,931 jobs between 2004 and 2007 and slightly decreased the pace of their spending on research and development, found the report surveying 19 companies' activity.

Report: Repatriation Tax Holiday a 'Failed' Policy




FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers


However, the Congressional Research Service looked at a repatriation holiday approved by Congress in 2004 and found “little evidence exists that new investment was spurred.” In fact, many of the largest companies that took advantage of that holiday wound up cutting tens of thousands of jobs over the subsequent two years, as this table shows:


Corporation Amount Repatriated Layoffs In 2005-2006

Pfizer $37 billion 10,000
Merck $15.9 billion 7,000
Hewlett-Packard $14.5 billion 14,500
Honeywell $2.7 billion 2,000
Ford $900 million 30,000
Colgate-Palmolive $800 million 4,000

Even companies that actually used the money for domestic investment, like Dell, wound up spending their new-found windfall on projects that they were going to undertake even in the absence of a tax break. As MIT economist Kristen Forbes explained, “[Dell] said part of the money would be brought back to build a new plant in Winston-Salem, N.C. They did bring back $4 billion, and spent $100 million on the plant, which they admitted would have been built anyway.”


Overall, corporations used 92 percent of the money they brought back under the tax holiday to enrich their executives and buy back their own shares, not to invest in job creation. Several of the companies in the WinAmerica coalition already pay exceedingly low taxes due to the various loopholes and credits in the corporate tax code and through their use of offshore tax havens. The Joint Economic Committee found that a repatriation holiday would cost $78.7 billion.

FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers



Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure

Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure | Center on Budget and Policy Priorities


Repatriation Tax Holiday Would Cost U.S. $95.8 Billion

A temporary tax holiday for U.S. companies to repatriate offshore profits would cost the government $95.8 billion in revenue over a decade, said the Joint Committee on Taxation, Congress’s nonpartisan scorekeeper.


Repatriation Tax Holiday Would Cost U.S. $95.8 Billion

 

[bripat9643]

Why should Apple, or any corporation, pay taxes on income it didn't earn in the United States?

They don't need to, but HONESTY dictates YOU admitting they didn't "earn" $40 billion in Ireland, lol


INTELLECTUAL profits are counted in low tax nations. Cool right? JUST DON'T TRY TO BRING IT BACK WITHOUT PAYING US TAXES ON IT!!

Honesty doesn't dictate anything of the sort. If the IRS could prove they didn't earn the money in Ireland, don't you think the IRS would have audited Apple and charged them for any taxes they owed?

Tax Dodge: Apple, Pfizer Among Top Companies That Added Nearly $90B To Their Offshore Cash Hoards Through Tax Inversion In 2014


...Last year, U.S. companies added $154.5 billion to their cash hoard in subsidiaries established in well-known tax haven countries like the Cayman Islands and Luxembourg, according to company data compiled by Bloomberg in a report published Wednesday. A little more than $2.09 trillion from hundreds of U.S. companies now sits outside of the reach of the Internal Revenue Service in countries that charge little to no taxes on corporate earnings made outside their borders.



Companies with substantial international operations or that earn money from intellectual property are more likely to take advantage of the tax loophole. Global industrial heavyweight General Electric has long held the top slot as the biggest tax inverter, at $119 billion. The company uses this cash to reinvest in its massive global business operations, including oil and gas equipment, home appliances and power and water systems.

Tax Dodge: Apple, Pfizer Among Top Companies That Added Nearly $90B To Their Offshore Cash Hoards Through Tax Inversion In 2014

Only a stupid company would want to pay the tax set by this federal government...

Yep, REAL patriots you CONS are

So patriotism is acting stupidly against your own interests?

Right, I'm the liberal brand of patriot.

Liberal Dictionary:
=====================================
Patriot - Sucker

 

[bripat9643]

Taxing the wealthy more will have little to no impact on your life or anyone around you


Did you get your job from a poor person?

If you tax away enough of the wealthy's money, what do you think they will have to cut as a result?

Yet we have had much stronger economies when the rich were being taxed more.

Are you stupid??
The more the wealthy businesses are taxed, they just pass expense onto their service/products.

Are you saying we haven't had much stronger economies when the rich were being taxed more? Because we have, it is a fact.

Yeah, we had a real strong economy in the 1930s.

The 30's was a direct result of 20's deregulation. Worked then and it worked under Bush.

Another stupid liberal myth. There was no deregulation during the 20s, moron. In fact, there was increased regulation.

 

[bripat9643]

That means they won't be bringing it back. Yeah, that sure is smart government policy!

Cool. Either they pay for Gov't or let them keep it offshore. Simple.

Yeah, that will create a lot of jobs in this country.

It's sad that you're so stupid you can't see the flaw in your plan.

Jobs? lol


A Repatriation Holiday Would Not Create Jobs

Repatriation Holiday Would Not Increase Investment or Job Creation

According to one estimate, U.S. businesses hold accumulated foreign earnings of almost $2 trillion offshore.[5] Many businesses leave a large portion of those earnings abroad to pursue new opportunities in growing foreign markets. However, they undoubtedly also leave a substantial remaining portion abroad to logically delay payment of the U.S. tax.


Businesses, like individuals, respond to incentives. If the U.S. offered a repatriation holiday, businesses would no doubt bring large amounts of foreign earnings back to the U.S. to reduce their deferred tax liability. Indeed, the last time the U.S. offered a repatriation holiday in 2004 businesses brought back $362 billion.

However, the holiday did not have the anticipated positive economic benefit


Repatriation Holiday Is Backward Looking

Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued.

RIGHT WING HERITAGE


A Repatriation Holiday Would Not Create Jobs

ya do know even Harry Reid was coming up with a plan for a New tax holiday right "dip shit that didn't know we bombed the rest of the industrial world into the stone age in WWII "



Idea for Corporate Tax Holiday Gains Bipartisan Traction in Senate

So NO, you can't refute Heritage INSTEAD prefer a strawman.


Studies: Raise capital gains tax rates to lower income inequality

Why don't we try stopping the importation of cheap foreign labor from third world countries to compete for American jobs before we try raising taxes?

 

[bripat9643]

Yeah, that will create a lot of jobs in this country.

It's sad that you're so stupid you can't see the flaw in your plan.

Jobs? lol


A Repatriation Holiday Would Not Create Jobs

Repatriation Holiday Would Not Increase Investment or Job Creation

According to one estimate, U.S. businesses hold accumulated foreign earnings of almost $2 trillion offshore.[5] Many businesses leave a large portion of those earnings abroad to pursue new opportunities in growing foreign markets. However, they undoubtedly also leave a substantial remaining portion abroad to logically delay payment of the U.S. tax.


Businesses, like individuals, respond to incentives. If the U.S. offered a repatriation holiday, businesses would no doubt bring large amounts of foreign earnings back to the U.S. to reduce their deferred tax liability. Indeed, the last time the U.S. offered a repatriation holiday in 2004 businesses brought back $362 billion.

However, the holiday did not have the anticipated positive economic benefit


Repatriation Holiday Is Backward Looking

Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued.

RIGHT WING HERITAGE


A Repatriation Holiday Would Not Create Jobs

ya do know even Harry Reid was coming up with a plan for a New tax holiday right "dip shit that didn't know we bombed the rest of the industrial world into the stone age in WWII "



Idea for Corporate Tax Holiday Gains Bipartisan Traction in Senate

So NO, you can't refute Heritage INSTEAD prefer a strawman.


Studies: Raise capital gains tax rates to lower income inequality

Ya do know who Harry Reid is right?

And hopefully (but by judging by your post I doubt it) know what the word Bi partisan means....

Btw take anything from Berkley and the Heritage foundation and shove it up your ass... Just saying

I can't stand either or ...

Report: Repatriation Tax Holiday a 'Failed' Policy

The report warned against repeating the tax break, calling the 2004 effort "a failed tax policy" that cost the U.S. Treasury $3.3 billion in estimated lost revenues over 10 years and led to U.S. companies directing more funds offshore. U.S.-based multinationals often defer bringing back profits earned abroad to avoid paying U.S. taxes on them.

The 15 companies that repatriated the most after the 2004 tax break on the return of overseas profits later cut a net 20,931 jobs between 2004 and 2007 and slightly decreased the pace of their spending on research and development, found the report surveying 19 companies' activity.

Report: Repatriation Tax Holiday a 'Failed' Policy




FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers


However, the Congressional Research Service looked at a repatriation holiday approved by Congress in 2004 and found “little evidence exists that new investment was spurred.” In fact, many of the largest companies that took advantage of that holiday wound up cutting tens of thousands of jobs over the subsequent two years, as this table shows:


Corporation Amount Repatriated Layoffs In 2005-2006

Pfizer $37 billion 10,000
Merck $15.9 billion 7,000
Hewlett-Packard $14.5 billion 14,500
Honeywell $2.7 billion 2,000
Ford $900 million 30,000
Colgate-Palmolive $800 million 4,000

Even companies that actually used the money for domestic investment, like Dell, wound up spending their new-found windfall on projects that they were going to undertake even in the absence of a tax break. As MIT economist Kristen Forbes explained, “[Dell] said part of the money would be brought back to build a new plant in Winston-Salem, N.C. They did bring back $4 billion, and spent $100 million on the plant, which they admitted would have been built anyway.”


Overall, corporations used 92 percent of the money they brought back under the tax holiday to enrich their executives and buy back their own shares, not to invest in job creation. Several of the companies in the WinAmerica coalition already pay exceedingly low taxes due to the various loopholes and credits in the corporate tax code and through their use of offshore tax havens. The Joint Economic Committee found that a repatriation holiday would cost $78.7 billion.

FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers



Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure

Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure | Center on Budget and Policy Priorities


Repatriation Tax Holiday Would Cost U.S. $95.8 Billion

A temporary tax holiday for U.S. companies to repatriate offshore profits would cost the government $95.8 billion in revenue over a decade, said the Joint Committee on Taxation, Congress’s nonpartisan scorekeeper.


Repatriation Tax Holiday Would Cost U.S. $95.8 Billion

You're a sock for D23, aren't you?

 

[Wyatt earp]

Jobs? lol


A Repatriation Holiday Would Not Create Jobs

Repatriation Holiday Would Not Increase Investment or Job Creation

According to one estimate, U.S. businesses hold accumulated foreign earnings of almost $2 trillion offshore.[5] Many businesses leave a large portion of those earnings abroad to pursue new opportunities in growing foreign markets. However, they undoubtedly also leave a substantial remaining portion abroad to logically delay payment of the U.S. tax.


Businesses, like individuals, respond to incentives. If the U.S. offered a repatriation holiday, businesses would no doubt bring large amounts of foreign earnings back to the U.S. to reduce their deferred tax liability. Indeed, the last time the U.S. offered a repatriation holiday in 2004 businesses brought back $362 billion.

However, the holiday did not have the anticipated positive economic benefit


Repatriation Holiday Is Backward Looking

Another holiday would do nothing to encourage investment in the long run either, since it would absolve businesses of tax liabilities they have already accrued.

RIGHT WING HERITAGE


A Repatriation Holiday Would Not Create Jobs

ya do know even Harry Reid was coming up with a plan for a New tax holiday right "dip shit that didn't know we bombed the rest of the industrial world into the stone age in WWII "



Idea for Corporate Tax Holiday Gains Bipartisan Traction in Senate

So NO, you can't refute Heritage INSTEAD prefer a strawman.


Studies: Raise capital gains tax rates to lower income inequality

Ya do know who Harry Reid is right?

And hopefully (but by judging by your post I doubt it) know what the word Bi partisan means....

Btw take anything from Berkley and the Heritage foundation and shove it up your ass... Just saying

I can't stand either or ...

Report: Repatriation Tax Holiday a 'Failed' Policy

The report warned against repeating the tax break, calling the 2004 effort "a failed tax policy" that cost the U.S. Treasury $3.3 billion in estimated lost revenues over 10 years and led to U.S. companies directing more funds offshore. U.S.-based multinationals often defer bringing back profits earned abroad to avoid paying U.S. taxes on them.

The 15 companies that repatriated the most after the 2004 tax break on the return of overseas profits later cut a net 20,931 jobs between 2004 and 2007 and slightly decreased the pace of their spending on research and development, found the report surveying 19 companies' activity.

Report: Repatriation Tax Holiday a 'Failed' Policy




FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers


However, the Congressional Research Service looked at a repatriation holiday approved by Congress in 2004 and found “little evidence exists that new investment was spurred.” In fact, many of the largest companies that took advantage of that holiday wound up cutting tens of thousands of jobs over the subsequent two years, as this table shows:


Corporation Amount Repatriated Layoffs In 2005-2006

Pfizer $37 billion 10,000
Merck $15.9 billion 7,000
Hewlett-Packard $14.5 billion 14,500
Honeywell $2.7 billion 2,000
Ford $900 million 30,000
Colgate-Palmolive $800 million 4,000

Even companies that actually used the money for domestic investment, like Dell, wound up spending their new-found windfall on projects that they were going to undertake even in the absence of a tax break. As MIT economist Kristen Forbes explained, “[Dell] said part of the money would be brought back to build a new plant in Winston-Salem, N.C. They did bring back $4 billion, and spent $100 million on the plant, which they admitted would have been built anyway.”


Overall, corporations used 92 percent of the money they brought back under the tax holiday to enrich their executives and buy back their own shares, not to invest in job creation. Several of the companies in the WinAmerica coalition already pay exceedingly low taxes due to the various loopholes and credits in the corporate tax code and through their use of offshore tax havens. The Joint Economic Committee found that a repatriation holiday would cost $78.7 billion.

FLASHBACK: Corporations Used 2004 Tax Holiday To Repatriate Billions, Then Laid Off Thousands Of Workers



Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure

Repatriation Tax Holiday Would Lose Revenue And Is a Proven Policy Failure | Center on Budget and Policy Priorities


Repatriation Tax Holiday Would Cost U.S. $95.8 Billion

A temporary tax holiday for U.S. companies to repatriate offshore profits would cost the government $95.8 billion in revenue over a decade, said the Joint Committee on Taxation, Congress’s nonpartisan scorekeeper.


Repatriation Tax Holiday Would Cost U.S. $95.8 Billion

You're a sock for D23, aren't you?

Bingo

 

[Brain357]

All the takers are far from rich. The greedy are the ones with all the money.

It doesn't matter if or how rich they are. Greedy people are those that take from others who have earned it. Is it greedy of you because you have a savings account? Is it greedy of you to ask your employer for a raise? Is it greedy of you to look for bargains and deals at the stores or service centers? Of course not. You are only looking to keep more of what you earned. That's exactly what rich people do.

Greed is making lots of money while paying employees so little they are on welfare.

Is that what greed is?

If you need your car repaired and you have two garages to take it to, which one would you choose? The one that's going to charge you $850.00 or the one that's going to charge you $625.00?

If you decide to have somebody else cut and take care of your lawn, do you choose the company that's going to charge you $45.00 per cut, or are you going to use the company that charges $70.00 per cut?

Why would you or anybody else for that matter pay people more money than the job they are doing is worth? That's a sure sign of failure. And if you are overpaying your workers, you too will be looking for a job real soon because your competition will wipe you out in no time at all.

Well this extreme underpaying is what grows government. As long as the rich pay so little the gov will grow.

"Underpaying" what? How does paying less grow government?

Creates government dependence, more need for welfare.

 

[rightwinger]

It will only enable the government to spend more money on stupid ass senseless projects like shrimp on treadmills.
You stupid liberals will vote for it and see NONE OF IT. It will be blown on wasteful spending just like the vast majority of your taxes

why claim you don't want deficit spending?

That shrimp project was no joke if you looked into it, and cost basically nothing. You hater dupes think it's all waste until you find out what actually happens...

The fact that Republicans still bring up that $10,000 shrimp experiment shows how little they know about science

$10,000? Try four million dollars.

'Shrimp On A Treadmill': The Politics Of 'Silly' Studies

..Take the case of the "shrimp on a treadmill." Burnett says the senator's report linked that work to a half-million-dollar research grant. But that money actually went to a lot of different research that he and his colleagues did on this economically important seafood species.

The treadmills were just a small part of it, a way to measure how shrimp respond to changes in water quality. Burnett says the first treadmill was built by a colleague from scraps and was basically free, and the second was fancier and cost about $1,000. The senator's report was misleading, says Burnett, "and it suggests that much money was spent on seeing how long a shrimp can run on a treadmill, which was totally out of context."

'Shrimp On A Treadmill' And The Politics Of 'Silly' Science Studies

It amazes me that brain washed conservatives still bring this up as an example of taxpayer waste. Even if the story was debunked years ago

To Conservatives, it is scientists saying...Let's put shrimp on a treadmill and see what happens

To scientists, it was a low cost method to find out at what point water contamination begins to impact shrimp

Republicans and science....it totally baffles them