MaggieMae
Reality bits
- Apr 3, 2009
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- #41
spot on...the bastards should have given everyone a raise and watched the company tank and everyone go on the dole.....assholes....
Sorry, but I seriously doubt some of the conglomerates mentioned were even close to tanking. Get real.
It's pretty obvious the Randian capitalists missed the point entirely. In an ideal world, of course maximizing profits is the name of the game, but not when the economy is in such desperate need of repair. There's only so much "the government" can do. It would be nice if the private sector pitched in too.
The reality is that corporations exist to make profits, and capitalism with a minimally-regulated market in the 1900's pretty much made the US the most financially sound country in the world- until 2008, when deregulation of financial institutions, coupled with government social policies encouraging high-risk lending brought us to our knees. If not for the great corporate success of the US in general, we would not have the money for all the social programs that we have gotten into deep debt for. Like it or not, big profits = big government tax receipts, and this is what funds all the programs that so many see as essential in our society. When corporations can't maximize profits in this country, and they can in other countries, they will take their business elsewhere. If our government penalizes success, and other governments reward it, it's pretty much a no-brainer.
related tidbit:
China offers fresh tax break to encourage outsourcing businesses
By Chandan Das on August 12th, 2010
Eager to end Indias supremacy in the outsourcing industry, neighboring China has announced that it will not impose operating taxes on offshore outsourcing services business in 21 of its major cities until 2013 with a view to encourage the growth of this industry. A statement issued by the Communist government in China on Wednesday said that the exemption of five per cent operating taxes will be effective from July 1, 2010 and will remain in effect till December 31, 2013.
A business website reports that the 21 major cities exempted from the operation taxes on offshore outsourcing services, include Beijing, Dalian, Tianjin, Harbin, Shanghai, Daqing, Nanjing, Suzhou, Nanchang, Wuxi, Jinan, Hangzhou, Chengdu, Hefei, Xiamen, Guangzhou, Wuhan, Changsha, Shenzhen, Chongqing and Xian.
A joint statement issued by the Chinese Ministry of Finance, Ministry of Commerce and the State Administration of Taxation said that revenue from offshore service outsourcing denotes service revenue generated from deals signed with offshore businesses for providing IT outsourcing, BPO and KPO services. Quoting the release, Chinas official news agency Xinhua said that Chinese outsourcing firms in these 21 cities that have already paid the operating taxes on their offshore outsourcing services revenues since July 1, 2010 would be entitled to refunds by the end of the current year
Eager to end Indias supremacy in
China offers fresh tax break to encourage outsourcing businesses
Frankly, I don't care how successful companies become successful, as long as they don't step all over the very employees who make it possible for them to be successful in the first place.