What should be done, if anything, to bring home $5 trillion held overseas by American businesses?

[Missouri_Mike]

My Man. I would love a flat 15% tax on all income. No deductions.

I was thinking ten percent but ok.

Agreed....10% flat tax across the board. No deductions.

I think just living here should be worth 10% of your income no matter what the level of income you have. Taxes should never be a divisionary thing. Raise taxes or lower them but it's the same for everyone. The dems will be forced to lower taxes if they all applied equally.

 

[Missouri_Mike]

That is the down side of being a consumer economy. In the grand scheme of things we produce jack shit that only other rich nations can really afford to even think about purchasing. It's like the animals that go extinct are the ones who over specialize, and that's our economy. If a company can invest in a more "balanced" economy it behooves them. Thus when we market the US to get that offshore cash we need to be mindful of the "risk factors" and offer a little more incentive than say other countries with more "stable" markets could get away with - in direct opposition to that however, we not only have a very off kilter market, but we also have the highest taxes in the world - this is not a winning combination...

There's not a lefty on this board that's going to get that.

 

[EverCurious]

Good thing they're not in control atm eh? ;P

 

[Slade3200]

It would be nice to have some of that money come back home.

Freeze the accounts until the corporations agree to pay what they should have to begin with.

Please explain your idea... It sounds like you are suggesting that the US government freeze American bank accounts for anybody that has money in an offshore account until they transfer those funds into an American account and pay taxes on it. Is that what you are saying? Hows all this supposed to work?

Yes, that's the idea.

How exactly does that work? For example, how does the government know how many accounts you have and how much money is in each account? How is it all regulated and enforced?

I'm confident that if our intelligence agencies don't already know who has what where, they could find out. It would also require some cooperation from the countries where the money is held and that might need to be coerced in some way. That probably wouldn't be too difficult either because those nations require defense and possibly infrastructure support from the US.

So you want our intelligence agencies to get in the business of tracking the wealth of our citizens and to also force banks from other countries to disclose the financial information of their clients. Do you care at all about privacy? Do you recognize the potential problems that could arise from a government as big and intrusive as you propose?

 

[LeftofLeft]

It would be nice to have some of that money come back home.

Start with names like Kennedy, Pelosi, Kerry, Clinton, Schumer, Warren. Make sure they have no money overseas. Then we can go from there.

 

[usmbguest5318]

It would be nice to have some of that money come back home.

Start with names like Kennedy, Pelosi, Kerry, Clinton, Schumer, Warren. Make sure they have no money overseas. Then we can go from there.

Just what would be the problem with it if they did have money overseas? Lots of people do. There's nothing inherently wrong with it.

Moreover, the individuals you mentioned aren't self-employed, so if they have money overseas, it's merely in a bank account there rather than in the U.S.

 

[usmbguest5318]

It would be nice to have some of that money come back home.

Freeze the accounts until the corporations agree to pay what they should have to begin with.

Please explain your idea... It sounds like you are suggesting that the US government freeze American bank accounts for anybody that has money in an offshore account until they transfer those funds into an American account and pay taxes on it. Is that what you are saying? Hows all this supposed to work?

Maybe I misinterpreted your statement. The idea is not to freeze US accounts but to freeze foreign accounts owned by corporations. That way they would still have working capital. There would almost certainly come a time when the capital held abroad would be needed and that is when tax money would have to be paid.

How do you freeze an account in a foreign bank?

One provides due justification for doing so to the foreign government of which one makes the request that such be done to the account.

 

[LeftofLeft]

It would be nice to have some of that money come back home.

Start with names like Kennedy, Pelosi, Kerry, Clinton, Schumer, Warren. Make sure they have no money overseas. Then we can go from there.

Just what would be the problem with it if they did have money overseas? Lots of people do. There's nothing inherently wrong with it.

Moreover, the individuals you mentioned aren't self-employed, so if they have money overseas, it's merely in a bank account there rather than in the U.S.

Exactly. I have no problem with those people having money overseas. I have a problem with those people that support Liberal Elites who have money overseas and yet have a problem with conservatives having money overseas. During the previous regime, we had VP Biden threatening the revocation of US Citizenship of a Facebook multimillionaire living Singapore.

 

[Faun]

Folks with money overseas should pay the tax on it and bring the money back into the U.S..

Obviously they aren't doing that so maybe your feel good solution isn't the answer.

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

Well you're sure teaching those rich people a lesson. In the mean time they just keep the money over seas. You're showing them though, keep up the good work.

Just a thought though. Maybe you're paying too much or too little in taxes? I mean if you think you deserve 50% or whatever amount of their money to go to the government how much of yours should go there? Are you willing to match what they pay?

It's not about teaching them a lesson. It's about paying taxes. If they bring their money back here, they pay the taxes on that money. No one else gets a break on their taxes where they can avoid paying much of the taxes they owe. Neither should anyone doing business overseas.

 

[Missouri_Mike]

Obviously they aren't doing that so maybe your feel good solution isn't the answer.

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

Well you're sure teaching those rich people a lesson. In the mean time they just keep the money over seas. You're showing them though, keep up the good work.

Just a thought though. Maybe you're paying too much or too little in taxes? I mean if you think you deserve 50% or whatever amount of their money to go to the government how much of yours should go there? Are you willing to match what they pay?

It's not about teaching them a lesson. It's about paying taxes. If they bring their money back here, they pay the taxes on that money. No one else gets a break on their taxes where they can avoid paying much of the taxes they owe. Neither should anyone doing business overseas.

They are doing that business over there because they pay lower tax rates. Are you not able to follow that?

 

[ColonelAngus]

Obviously they aren't doing that so maybe your feel good solution isn't the answer.

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

Well you're sure teaching those rich people a lesson. In the mean time they just keep the money over seas. You're showing them though, keep up the good work.

Just a thought though. Maybe you're paying too much or too little in taxes? I mean if you think you deserve 50% or whatever amount of their money to go to the government how much of yours should go there? Are you willing to match what they pay?

It's not about teaching them a lesson. It's about paying taxes. If they bring their money back here, they pay the taxes on that money. No one else gets a break on their taxes where they can avoid paying much of the taxes they owe. Neither should anyone doing business overseas.

You're right. Just like immigrants seeking citizenship. You put it perfectly. We agree.

 

[LeftofLeft]

Obviously they aren't doing that so maybe your feel good solution isn't the answer.

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

Well you're sure teaching those rich people a lesson. In the mean time they just keep the money over seas. You're showing them though, keep up the good work.

Just a thought though. Maybe you're paying too much or too little in taxes? I mean if you think you deserve 50% or whatever amount of their money to go to the government how much of yours should go there? Are you willing to match what they pay?

It's not about teaching them a lesson. It's about paying taxes. If they bring their money back here, they pay the taxes on that money. No one else gets a break on their taxes where they can avoid paying much of the taxes they owe. Neither should anyone doing business overseas.

Pelosi Made Millions in Overseas Investments in 2011

Democrats' double standard on overseas investments

Obama has investments in companies that ship jobs overseas

 

[Faun]

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

Well you're sure teaching those rich people a lesson. In the mean time they just keep the money over seas. You're showing them though, keep up the good work.

Just a thought though. Maybe you're paying too much or too little in taxes? I mean if you think you deserve 50% or whatever amount of their money to go to the government how much of yours should go there? Are you willing to match what they pay?

It's not about teaching them a lesson. It's about paying taxes. If they bring their money back here, they pay the taxes on that money. No one else gets a break on their taxes where they can avoid paying much of the taxes they owe. Neither should anyone doing business overseas.

They are doing that business over there because they pay lower tax rates. Are you not able to follow that?

Where have I stated otherwise?

 

[Faun]

Then they can leave that money overseas. You feel good about others making more money than you but paying less in tax??

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

Well you're sure teaching those rich people a lesson. In the mean time they just keep the money over seas. You're showing them though, keep up the good work.

Just a thought though. Maybe you're paying too much or too little in taxes? I mean if you think you deserve 50% or whatever amount of their money to go to the government how much of yours should go there? Are you willing to match what they pay?

It's not about teaching them a lesson. It's about paying taxes. If they bring their money back here, they pay the taxes on that money. No one else gets a break on their taxes where they can avoid paying much of the taxes they owe. Neither should anyone doing business overseas.

Pelosi Made Millions in Overseas Investments in 2011

Democrats' double standard on overseas investments

Obama has investments in companies that ship jobs overseas

So what? Neither ideology owns exclusive rights to do business overseas.

 

[Missouri_Mike]

That's what they're doing now so obviously your tax the shit out of them plan isn't working to get more investment here. I don't worry about trivial things like if someone makes more than me. I also think the entire tax system is a joke. We need a flat tax if you want it to be fair to everyone equally.

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

Well you're sure teaching those rich people a lesson. In the mean time they just keep the money over seas. You're showing them though, keep up the good work.

Just a thought though. Maybe you're paying too much or too little in taxes? I mean if you think you deserve 50% or whatever amount of their money to go to the government how much of yours should go there? Are you willing to match what they pay?

It's not about teaching them a lesson. It's about paying taxes. If they bring their money back here, they pay the taxes on that money. No one else gets a break on their taxes where they can avoid paying much of the taxes they owe. Neither should anyone doing business overseas.

They are doing that business over there because they pay lower tax rates. Are you not able to follow that?

Where have I stated otherwise?

You haven't. Yet you think making them pay more taxes is the answer here. It's obviously not the only answer. They have options. You don't have any options. Your jealousy is probably not the best tax policy we can come up with.

 

[Faun]

Nope, that plan is working as designed. Want your money here? Pay your taxes on it. Why should they be allowed to avoid paying tax on their income but others, like myself, cannot?

Well you're sure teaching those rich people a lesson. In the mean time they just keep the money over seas. You're showing them though, keep up the good work.

Just a thought though. Maybe you're paying too much or too little in taxes? I mean if you think you deserve 50% or whatever amount of their money to go to the government how much of yours should go there? Are you willing to match what they pay?

It's not about teaching them a lesson. It's about paying taxes. If they bring their money back here, they pay the taxes on that money. No one else gets a break on their taxes where they can avoid paying much of the taxes they owe. Neither should anyone doing business overseas.

They are doing that business over there because they pay lower tax rates. Are you not able to follow that?

Where have I stated otherwise?

You haven't.

Thanks for admitting you were talking out of your ass.

Yet you think making them pay more taxes is the answer here. It's obviously not the only answer.

It's not about them paying more in taxes. It's about them paying the taxes they're obliged to pay if they bring their money back into the U.S..

Yet you think making them pay more taxes is the answer here. It's obviously not the only answer. They have options. You don't have any options. Your jealousy is probably not the best tax policy we can come up with.

I have the same options they have. Who knows what you're talking about? I too can do business overseas and leave my money stranded in another country. I choose not to.

 

[Missouri_Mike]

Well you're sure teaching those rich people a lesson. In the mean time they just keep the money over seas. You're showing them though, keep up the good work.

Just a thought though. Maybe you're paying too much or too little in taxes? I mean if you think you deserve 50% or whatever amount of their money to go to the government how much of yours should go there? Are you willing to match what they pay?

It's not about teaching them a lesson. It's about paying taxes. If they bring their money back here, they pay the taxes on that money. No one else gets a break on their taxes where they can avoid paying much of the taxes they owe. Neither should anyone doing business overseas.

They are doing that business over there because they pay lower tax rates. Are you not able to follow that?

Where have I stated otherwise?

You haven't.

Thanks for admitting you were talking out of your ass.

Yet you think making them pay more taxes is the answer here. It's obviously not the only answer.

It's not about them paying more in taxes. It's about them paying the taxes they're obliged to pay if they bring their money back into the U.S..

Yet you think making them pay more taxes is the answer here. It's obviously not the only answer. They have options. You don't have any options. Your jealousy is probably not the best tax policy we can come up with.

I have the same options they have. Who knows what you're talking about? I too can do business overseas and leave my money stranded in another country. I choose not to.

I'm not sure how you're going to deposit that check from Hardee's over seas but you have at it man.

 

[Slyhunter]

Well you're sure teaching those rich people a lesson. In the mean time they just keep the money over seas. You're showing them though, keep up the good work.

Just a thought though. Maybe you're paying too much or too little in taxes? I mean if you think you deserve 50% or whatever amount of their money to go to the government how much of yours should go there? Are you willing to match what they pay?

It's not about teaching them a lesson. It's about paying taxes. If they bring their money back here, they pay the taxes on that money. No one else gets a break on their taxes where they can avoid paying much of the taxes they owe. Neither should anyone doing business overseas.

They are doing that business over there because they pay lower tax rates. Are you not able to follow that?

Where have I stated otherwise?

You haven't.

Thanks for admitting you were talking out of your ass.

Yet you think making them pay more taxes is the answer here. It's obviously not the only answer.

It's not about them paying more in taxes. It's about them paying the taxes they're obliged to pay if they bring their money back into the U.S..

Yet you think making them pay more taxes is the answer here. It's obviously not the only answer. They have options. You don't have any options. Your jealousy is probably not the best tax policy we can come up with.

I have the same options they have. Who knows what you're talking about? I too can do business overseas and leave my money stranded in another country. I choose not to.

We want them to move their money to America and to spend it on things that will create jobs.
Therefore it is up to us to give them a reason to do so.

 

[Wyatt earp]

Round up the unpatriotic scum who run these companies, line them up against the wall, and shoot them all.

Tell the next bunch who take over that this is what's in store if you fuck up again and try to weasel out of paying your fair share to the country that allows you to operate unhindered.

So you are upset they play by the rules, but say sanctuary cities and states that have legal weed don't have too?

.

 

[Faun]

It's not about teaching them a lesson. It's about paying taxes. If they bring their money back here, they pay the taxes on that money. No one else gets a break on their taxes where they can avoid paying much of the taxes they owe. Neither should anyone doing business overseas.

They are doing that business over there because they pay lower tax rates. Are you not able to follow that?

Where have I stated otherwise?

You haven't.

Thanks for admitting you were talking out of your ass.

Yet you think making them pay more taxes is the answer here. It's obviously not the only answer.

It's not about them paying more in taxes. It's about them paying the taxes they're obliged to pay if they bring their money back into the U.S..

Yet you think making them pay more taxes is the answer here. It's obviously not the only answer. They have options. You don't have any options. Your jealousy is probably not the best tax policy we can come up with.

I have the same options they have. Who knows what you're talking about? I too can do business overseas and leave my money stranded in another country. I choose not to.

We want them to move their money to America and to spend it on things that will create jobs.
Therefore it is up to us to give them a reason to do so.

They can bring their money here. And if we're going to incentivize them by letting them avoid paying much of the taxes they would otherwise owe; they we are encouraging all Americans to do business overseas and bring their monies back into the U.S. at a reduced tax rate. Beyond stupid.