If we could weaken China's economy

[Smokin' OP]

People don't need as much as you think

Personally.......no.
A lot of people build things and need material, to do so.

 

[Smokin' OP]

Companies can still do that. Go look at the list of countries wthin the TPP that the U.S already has a free trade deal with. America wll just be copying Englands model which is failing:

How can it be failing?
They just signed agreements.

The Australia deal was the first trade agreement negotiated from scratch by the UK since it left the EU. UK farmers warned they could be undercut by cheap imports, which could cost jobs. However, the UK government insists the deal contains protections for the sector.
A deal with Japan was signed in October 2020. It was the first that differed from the existing EU trade deal.

An agreement with Norway, Iceland and Liechtenstein was announced in June 2021 and builds on the previous agreement the UK had with these countries.
Talks with India began in early 2022, although no deal has yet been reached.
The UK has also applied to join an existing trade agreement between 11 Pacific Rim nations. The government hopes to become a member of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) by the end of 2022.

During the last five reported years the exports of United Kingdom have changed by $31B from $389B in 2016 to $420B in 2021. The most recent exports are led by Cars ($30.2B), Gold ($29.7B), Gas Turbines ($21.9B), Crude Petroleum ($19.6B), and Packaged Medicaments ($17.9B).

make nothing, move money around, lose your economic power.

 

[Toddsterpatriot]

Here is the problem with this. Businesses can get tax breaks for moving production to China.

Trump-GOP Tax Law Encourages Companies to Move Jobs Offshore–and New Tax Cuts Won’t Change That

Now we are suppose to be able to negate the actions of the government? I need a new pair of tennis shoes and I'm suppose to find a pair online that are made in America because the government encouraged business to offshore?

Here is the problem with this. Businesses can get tax breaks for moving production to China.

Bullshit. They were getting a break because overseas tax rates were lower.
The Trump tax cuts brought us in line with the rest of the world.

 

[Smokin' OP]

Here is the problem with this. Businesses can get tax breaks for moving production to China.

Bullshit. They were getting a break because overseas tax rates were lower.
The Trump tax cuts brought us in line with the rest of the world.

BS.

Corporate tax in China 2023 Guide | China Tax for Foreign ...​

https://www.fdichina.com/blog/china...hina tax rate,all companies, foreign & local.
https://www.fdichina.com/blog/china...hina tax rate,all companies, foreign & local.
China Business Tax & China tax rate. The Chinese Business Tax or Corporate Income Tax (CIT) applies to all companies in China. It is levied on company profits at a rate of 25%. These days, CIT applies equally to all companies, foreign & local.
https://www.fdichina.com/blog/china...hina tax rate,all companies, foreign & local.

Trump's Corporate Tax Cut Is Not Trickling Down​

Center for American Progress
https://www.americanprogress.org › article › trumps-cor...

Two years ago, President Donald Trump and Republicans in Congress cut the corporate tax rate from 35 percent to 21 percent via the Tax Cuts and Jobs Act of 2017 (TCJA). At the time, the Trump administration claimed that its corporate tax cuts would increase the average household income in the United States by $4,000. But two years later, there is little indication that the tax cut is even beginning to trickle down in the ways its proponents claimed.

 

[Toddsterpatriot]

BS.

Corporate tax in China 2023 Guide | China Tax for Foreign ...​

https://www.fdichina.com/blog/china-tax-compliance-guide/#:~:text=1.-,China Business Tax & China tax rate,all companies, foreign & local.
https://www.fdichina.com/blog/china-tax-compliance-guide/#:~:text=1.-,China Business Tax & China tax rate,all companies, foreign & local.
China Business Tax & China tax rate. The Chinese Business Tax or Corporate Income Tax (CIT) applies to all companies in China. It is levied on company profits at a rate of 25%. These days, CIT applies equally to all companies, foreign & local.
https://www.fdichina.com/blog/china-tax-compliance-guide/#:~:text=1.-,China Business Tax & China tax rate,all companies, foreign & local.

Trump's Corporate Tax Cut Is Not Trickling Down​

View attachment 772686
Center for American Progress
https://www.americanprogress.org › article › trumps-cor...

Two years ago, President Donald Trump and Republicans in Congress cut the corporate tax rate from 35 percent to 21 percent via the Tax Cuts and Jobs Act of 2017 (TCJA). At the time, the Trump administration claimed that its corporate tax cuts would increase the average household income in the United States by $4,000. But two years later, there is little indication that the tax cut is even beginning to trickle down in the ways its proponents claimed.

After stagnating during the Obama years, we saw a decent increase in household income under Trump.

Real Median Household Income in the United States | FRED | St. Louis Fed

View the inflation-adjusted value of the 50th percentile of the U.S. income distribution, as estimated by the Census Bureau.

fred.stlouisfed.org

 

[Smokin' OP]

After stagnating during the Obama years, we saw a decent increase in household income under Trump.

View attachment 772689

Real Median Household Income in the United States | FRED | St. Louis Fed

View the inflation-adjusted value of the 50th percentile of the U.S. income distribution, as estimated by the Census Bureau.

fred.stlouisfed.org

WTF does THAT have to do with corporate tax rate?

 

[Toddsterpatriot]

WTF does THAT have to do with corporate tax rate?

Why are you such a moron? Is it genetic? Do you practice?
What the actual fuck?

Two years ago, President Donald Trump and Republicans in Congress cut the corporate tax rate from 35 percent to 21 percent via the Tax Cuts and Jobs Act of 2017 (TCJA). At the time, the Trump administration claimed that its corporate tax cuts would increase the average household income in the United States by $4,000. But two years later, there is little indication that the tax cut is even beginning to trickle down in the ways its proponents claimed.

If we could weaken China's economy

By buying less of the crap that is manufactured there. Would you opt to buy less crap and instead pay a little bit more for the things you need and stop buying the things you don't need ?

www.usmessageboard.com

 

[Smokin' OP]

Why are you such a moron? Is it genetic? Do you practice?
What the actual fuck?

Two years ago, President Donald Trump and Republicans in Congress cut the corporate tax rate from 35 percent to 21 percent via the Tax Cuts and Jobs Act of 2017 (TCJA). At the time, the Trump administration claimed that its corporate tax cuts would increase the average household income in the United States by $4,000. But two years later, there is little indication that the tax cut is even beginning to trickle down in the ways its proponents claimed.

If we could weaken China's economy

By buying less of the crap that is manufactured there. Would you opt to buy less crap and instead pay a little bit more for the things you need and stop buying the things you don't need ?

www.usmessageboard.com

WTF RETodd?
Post 43, dumbass.

"They were getting a break because overseas tax rates were lower".
"The Trump tax cuts brought us in line with the rest of the world".

YOU don't have to practice, at being an imbecile, just continue watching FOX and listening to Trump.

 

[pknopp]

Here is the problem with this. Businesses can get tax breaks for moving production to China.

Bullshit. They were getting a break because overseas tax rates were lower.
The Trump tax cuts brought us in line with the rest of the world.

I posted the link. Read it.

 

[Toddsterpatriot]

WTF RETodd?
Post 43, dumbass.

"They were getting a break because overseas tax rates were lower".
"The Trump tax cuts brought us in line with the rest of the world".

YOU don't have to practice, at being an imbecile, just continue watching FOX and listening to Trump.

Tell me again that household incomes didn't rise. DURR.

They were getting a break because overseas tax rates were lower.
That's not the US government giving a tax break to move.

 

[Toddsterpatriot]

I posted the link. Read it.

I read it.
It made me laugh.

 

[hadit]

Jesus Fucking H Christ people

can't you talk about anything other than out corrupt politicians?

I agree, the amount of partisan finger pointing is ridiculous. This isn't about politicians, it's about the citizens of America doing the only thing that would bring manufacturing back to the States, and that's pay more for the goods they buy.

 

[pknopp]

I read it.
It made me laugh.

I'm sure it did.

 

[Toddsterpatriot]

I'm sure it did.

New tax cuts to incentivize bringing jobs back to the United States will fail. No new tax provisions can be more generous than the zero percent rate the 2017 law provides for many offshore profits or the loopholes that allow corporations to shift profits to countries with minimal or no corporate income taxes.

Corporations were leaving their profits overseas to avoid the 35% US tax rate.
Profit left overseas already had a 0% US tax rate.

Hilarious!!!

 

[Toddsterpatriot]

I'm sure it did.

First, American-based corporations pay U.S. taxes on offshore profits only when those profits exceed 10 percent of their offshore tangible assets. These are physical assets like factories, stores and equipment.

Imagine that a U.S. corporation that until now has been solely domestic creates a subsidiary in a low-tax country and builds a factory there. The rate of return on that offshore investment would need to exceed 10 percent (a very high profit margin) before it is subject to any U.S. taxes.

Imagine that a U.S. corporation that until now has been solely domestic creates a subsidiary in a low-tax country and builds a factory there. None of the profit earned there was subject to any U.S. taxes before the Trump tax cuts. Hilarious!

 

[pknopp]

New tax cuts to incentivize bringing jobs back to the United States will fail. No new tax provisions can be more generous than the zero percent rate the 2017 law provides for many offshore profits or the loopholes that allow corporations to shift profits to countries with minimal or no corporate income taxes.

Corporations were leaving their profits overseas to avoid the 35% US tax rate.
Profit left overseas already had a 0% US tax rate.

Hilarious!!!

Tax them at 90% to where they can never bring them back. Corporations that move offshore should be hammered.

They want protected by the government but they aren't interested in the people that make the government possible.

 

[Toddsterpatriot]

Tax them at 90% to where they can never bring them back. Corporations that move offshore should be hammered.

They want protected by the government but they aren't interested in the people that make the government possible.

90%? Pussy. Make it 100%. That'll teach them.
Make it 100% here too. What could go wrong?

 

[pknopp]

90%? Pussy. Make it 100%. That'll teach them.
Make it 100% here too. What could go wrong?

Fine with me.

 

[Toddsterpatriot]

I'm sure it did.

Second, even when offshore profits of American-based corporations are subject to U.S. taxes, the rate imposed is far lower than the rate imposed on domestic profits.

Of course it is, they were already taxed by the other country.

 

[evenflow1969]

By buying less of the crap that is manufactured there. Would you opt to buy less crap and instead pay a little bit more for the things you need and stop buying the things you don't need ?

Yep. Easier said than done though. It ain't easy to find stuff that doesn't say made in China. I have spent some time trying.