Tax Shopping: For or Against?

[Dad2three]

How high corporate taxes are slowing the economy.

How Apple Slows the U.S. Economic Recovery

Congress is the problem.


The first reason is that the U.S.' corporate tax rate is the second-highest in the world.

The big reason, though, is that companies are waiting for another tax holiday. This is the unintended consequence of the 2004 Repatriation Tax holiday that Congress passed in an effort to stimulate the economy. The hope was that by incentivizing companies to bring back foreign earnings with onetime low tax rates, U.S. firms would invest the money, spurring on the economy.

The last tax holiday failed to stimulate the economy, however. Most of the money went to share buybacks, rather than investments in the real economy. The tax holiday also had the unintended consequence of prompting more companies to hoard cash abroad and reclassify earnings as foreign in the hope that Congress would implement another tax holiday


Congress has no clue of what they are doing and should never be making any rules or regulations on businesses.
Most of them have never run a business, let alone know anything about how they think it should be controlled.

Let them keep it offshore, NO MORE TAX HOLIDAYS BY THE GOP, WE NEED THE JOBS!!!

Yeah, that offshore money creates lots of jobs here. Doofus.

Well we KNOW bringing it back at low taxes rates like Dubya did, 5%, according to Heritage foundation, cost US jobs and would again

 

[Dad2three]

They are moving their HQ's abroad to avoid taxes.

They still have to pay taxes on US earnings to the US government.
Moving the HQ shelters earnings abroad from US taxes.

Cool, good luck with that. Want to bring them back to the US as dividends? PAY THE GAWDDAMN TAXES!

Pay 35% taxes and then get the dividends taxed again at the individual level?

Stupidity only a liberal could endorse!

Yeah, just like my taxes are paid and my gardener then pays HIS taxes. AND?

 

[Dad2three]

By now, the problem is well-known. Medtronic owes no U.S. tax on profits earned overseas as long as the earnings stay overseas. But it would owe as much as 35 percent U.S. corporate income tax on any money it brings back to the U.S. Thus, it is cheaper to borrow (especially at today’s low interest rates) than to pay the repatriation tax. By contrast, as an Irish firm, it could pay dividends without owing any U.S. corporate tax.

See, Medtronic pays US taxes on US earnings and European taxes (for example) on European earnings. Whether the HQ is in the US, Ireland or Hong Kong.
Because their HQ is in the US, they'll owe extra taxes if they bring those (already taxed by Europe) European earnings home to the US.

If they move HQ to Ireland, no double taxation. They can now pay US shareholders those European earnings without the US taking 35%, first.

Broken record.

Yes, your ignorance is getting repetitive.

Senator Carl Levin, Democrat of Michigan, has introduced a bill that would halt corporate inversions.

What do you think the party of no is saying? lol

A foreign company could still buy a US corp and accomplish the same thing.

I don't know what the party of no is saying.

I'll say something, Fuck you Levin, you stupid commie piece of shit.

Commie? lol

 

[Dad2three]

This has bitching to do with worldwide earnings.

It has everything to do with worldwide earnings.
Why do you think they do it?

Our corporate rates are not ACTUALLY the highest in the world.

Who has a higher rate?

The best way to judge the efficiency of the corporate tax code is to look at results, and in the US, corporate tax topped out at 1.3% of GDP last year. Most industrialized countries collect DOUBLE that, around 2.5% of GDP. The corporate tax rate is a useless parameter in the face of these numbers.

in the US, corporate tax topped out at 1.3% of GDP last year

What would it be if you added S Corp taxes?

WEIRD YOU IGNORED THESE

U.S. businesses have another edge over countries with lower tax rates: They don't pay a Value Added Tax or VAT, a type of sales tax.

All other developed nations raise a significant part of their tax revenue through VATs, but it is not included in the comparisons of corporate tax collections.





AND

Weird, Obama proposed 28% and getting rid of loopholes, GOP of course said NO

 

[Toddsterpatriot]

Warren Buffett: ‘It Is A Myth’ That U.S. Corporate Taxes Are High


Reality Check: Effective U.S. Corporate Tax Rate Much Lower Than Most Other Developed Nations


U.S. corporate taxes that were actually paid (the effective rate) fell to a 40 year low of 12.1 percent in fiscal year 2011, despite corporate profits rebounding to their pre-Great Recession heights. The U.S. both taxes its corporations less and raises less in revenue from corporate taxes than its foreign competitors:

Of course, it is theoretically possible (OBAMA PROPOSAL) to lower the U.S. corporate income tax rate while simultaneously raising revenue to help reduce the federal deficit by closing loopholes and cracking down on tax havens. But Republicans have absolutely no interest in that.


Reality Check: Effective U.S. Corporate Tax Rate Much Lower Than Most Other Developed Nations | ThinkProgress


U.S. corporate tax collections totaled only 1.7% of GDP in 2009, the most recent year for which complete data is available, according to the Organization for Economic Cooperation and Development.

On that measure, the United States had the third lowest corporate tax burden, behind France and Germany. The worldwide average was 2.8%.



The corporate tax myth - Feb. 23, 2012

Warren Buffett: ‘It Is A Myth’ That U.S. Corporate Taxes Are High

Isn't that the guy who lies about his secretary paying a higher tax rate than he does?

No


March 4, 2013
Buffett says he's still paying lower tax rate than his secretary


Buffett has been advocating for a minimum tax on top wage earners -- those like himself who benefit from the fact that capital gains are taxed at a lower rate than regular earnings. His proposal, popularly known as the Buffett rule, has the support of the Obama administration but is strongly opposed by Republicans in Congress.

Buffett says he's still paying lower tax rate than his secretary - Mar. 4, 2013

He's still lying. Unless he pays his secretary a coupla hundred thousand.

 

[Toddsterpatriot]

The best way to judge the efficiency of the corporate tax code is to look at results, and in the US, corporate tax topped out at 1.3% of GDP last year. Most industrialized countries collect DOUBLE that, around 2.5% of GDP. The corporate tax rate is a useless parameter in the face of these numbers.

in the US, corporate tax topped out at 1.3% of GDP last year

What would it be if you added S Corp taxes?

Figure it out.

It's higher.

 

[Toddsterpatriot]

Let them keep it offshore, NO MORE TAX HOLIDAYS BY THE GOP, WE NEED THE JOBS!!!

Yeah, that offshore money creates lots of jobs here. Doofus.

Well we KNOW bringing it back at low taxes rates like Dubya did, 5%, according to Heritage foundation, cost US jobs and would again

Bringing back money cost jobs? Please, elaborate.

 

[Toddsterpatriot]

The best way to judge the efficiency of the corporate tax code is to look at results, and in the US, corporate tax topped out at 1.3% of GDP last year. Most industrialized countries collect DOUBLE that, around 2.5% of GDP. The corporate tax rate is a useless parameter in the face of these numbers.

in the US, corporate tax topped out at 1.3% of GDP last year

What would it be if you added S Corp taxes?

WEIRD YOU IGNORED THESE

U.S. businesses have another edge over countries with lower tax rates: They don't pay a Value Added Tax or VAT, a type of sales tax.

All other developed nations raise a significant part of their tax revenue through VATs, but it is not included in the comparisons of corporate tax collections.





AND

Weird, Obama proposed 28% and getting rid of loopholes, GOP of course said NO

Why is it weird that I knew we had no VAT?

Yeah, 28% is too high.

 

[EdwardBaiamonte]

Should we allow corporate inversion?

The Tax-Shopping Backstory of the Medtronic-Covidien Inversion - Forbes

Stop taxing corporations on their world-wide earnings.
Reduce our highest in the world corporate rates.

why not stop taxing them altogether since a tax like any cost is merely passed on to us. We have the corporate tax only to pander to the pure ignorance of liberals who think corps must pay their fair share.

 

[Dad2three]

in the US, corporate tax topped out at 1.3% of GDP last year

What would it be if you added S Corp taxes?

Figure it out.

It's higher.

Got the math showing it's higher than the rest of the worlds combined? lol

 

[Dad2three]

Should we allow corporate inversion?

The Tax-Shopping Backstory of the Medtronic-Covidien Inversion - Forbes

Stop taxing corporations on their world-wide earnings.
Reduce our highest in the world corporate rates.

why not stop taxing them altogether since a tax like any cost is merely passed on to us. We have the corporate tax only to pander to the pure ignorance of liberals who think corps must pay their fair share.

Corporate Taxes as a Percentage of Federal Revenue

1955 . . . 27.3%
2010 . . . 8.9%

Corporate Taxes as a Percentage of GDP

1955 . . . 4.3%
2010 . . . 1.3%

Individual Income/Payrolls as a Percentage of Federal Revenue

1955 . . . 58.0%
2010 . . . 81.5%

Corporate Profits Are At An All-Time High

'corporate profits are at an all-time high as a percentage of the economy, wages are at an all-time low.'

'Last year, corporations made a record $824 billion, which didn’t stop conservatives from continually claiming that President Obama is anti-business.'
Corporate Profits Are At An All-Time High | ThinkProgress

 

[Dad2three]

in the US, corporate tax topped out at 1.3% of GDP last year

What would it be if you added S Corp taxes?

WEIRD YOU IGNORED THESE

U.S. businesses have another edge over countries with lower tax rates: They don't pay a Value Added Tax or VAT, a type of sales tax.

All other developed nations raise a significant part of their tax revenue through VATs, but it is not included in the comparisons of corporate tax collections.





AND

Weird, Obama proposed 28% and getting rid of loopholes, GOP of course said NO

Why is it weird that I knew we had no VAT?

Yeah, 28% is too high.

28% to high? According to what studies? It's 35% today, you claim that's to high, dropping it 7% doesn't help? lol'

 

[Dad2three]

Warren Buffett: ‘It Is A Myth’ That U.S. Corporate Taxes Are High

Isn't that the guy who lies about his secretary paying a higher tax rate than he does?

No


March 4, 2013
Buffett says he's still paying lower tax rate than his secretary


Buffett has been advocating for a minimum tax on top wage earners -- those like himself who benefit from the fact that capital gains are taxed at a lower rate than regular earnings. His proposal, popularly known as the Buffett rule, has the support of the Obama administration but is strongly opposed by Republicans in Congress.

Buffett says he's still paying lower tax rate than his secretary - Mar. 4, 2013

He's still lying. Unless he pays his secretary a coupla hundred thousand.

Don't know Romney paid a MUCH lower percentage of his income in federal taxes also? It was ALL over the news in 2012. Hint CAPITAL gains is treated differently AND the SS tax is capped

 

[EdwardBaiamonte]

Stop taxing corporations on their world-wide earnings.
Reduce our highest in the world corporate rates.

why not stop taxing them altogether since a tax like any cost is merely passed on to us. We have the corporate tax only to pander to the pure ignorance of liberals who think corps must pay their fair share.

Corporate Taxes as a Percentage of Federal Revenue

1955 . . . 27.3%
2010 . . . 8.9%

Corporate Taxes as a Percentage of GDP

1955 . . . 4.3%
2010 . . . 1.3%

Individual Income/Payrolls as a Percentage of Federal Revenue

1955 . . . 58.0%
2010 . . . 81.5%

Corporate Profits Are At An All-Time High

'corporate profits are at an all-time high as a percentage of the economy, wages are at an all-time low.'

'Last year, corporations made a record $824 billion, which didn’t stop conservatives from continually claiming that President Obama is anti-business.'
Corporate Profits Are At An All-Time High | ThinkProgress

corporate profits are high because our corporations are international and successful. Wages are low because liberal taxes and unions drove 40 million middle class jobs off shore and because liberals invited 20 million illegals in to take the remaining jobs. And this is not to mention that liberals destroyed the American family and schools thus rendering millions unfit to earn a good living.

 

[Toddsterpatriot]

No


March 4, 2013
Buffett says he's still paying lower tax rate than his secretary


Buffett has been advocating for a minimum tax on top wage earners -- those like himself who benefit from the fact that capital gains are taxed at a lower rate than regular earnings. His proposal, popularly known as the Buffett rule, has the support of the Obama administration but is strongly opposed by Republicans in Congress.

Buffett says he's still paying lower tax rate than his secretary - Mar. 4, 2013

He's still lying. Unless he pays his secretary a coupla hundred thousand.

Don't know Romney paid a MUCH lower percentage of his income in federal taxes also? It was ALL over the news in 2012. Hint CAPITAL gains is treated differently AND the SS tax is capped

Duh. Like I said, Buffett is lying.

 

[OnePercenter]

Should we allow corporate inversion?

The Tax-Shopping Backstory of the Medtronic-Covidien Inversion - Forbes

Stop taxing corporations on their world-wide earnings.
Reduce our highest in the world corporate rates.

why not stop taxing them altogether since a tax like any cost is merely passed on to us. We have the corporate tax only to pander to the pure ignorance of liberals who think corps must pay their fair share.

Who says prices will go down? Another great way to increase corporate profits!

 

[OnePercenter]

Should we allow corporate inversion?

The Tax-Shopping Backstory of the Medtronic-Covidien Inversion - Forbes

Stop taxing corporations on their world-wide earnings.
Reduce our highest in the world corporate rates.

why not stop taxing them altogether since a tax like any cost is merely passed on to us. We have the corporate tax only to pander to the pure ignorance of liberals who think corps must pay their fair share.

On second thought, since all of my earning funnel through a corporation......GOOD IDEA! Sean Hannity will thank you too!

 

[EdwardBaiamonte]

Stop taxing corporations on their world-wide earnings.
Reduce our highest in the world corporate rates.

why not stop taxing them altogether since a tax like any cost is merely passed on to us. We have the corporate tax only to pander to the pure ignorance of liberals who think corps must pay their fair share.

On second thought, since all of my earning funnel through a corporation......GOOD IDEA! Sean Hannity will thank you too!

Well, don't get too excited yet. All corps, not just yours, would have no taxes. That means they would have lower costs and could lower prices to get a leg up on the competition. So, very soon competition would force corporate profits back to where they were, but you'd see the savings in lower prices! But, the gov't would be without the corp. tax revenue it had so it would have to raise your taxes. But, because business would be operating far more efficiently, not having to move off shore for example to evade taxes, prices would go down much more than taxes would go up; so we'd all be a lot better off.

If you're a liberal thats all going to be way over your head.

 

[OnePercenter]

why not stop taxing them altogether since a tax like any cost is merely passed on to us. We have the corporate tax only to pander to the pure ignorance of liberals who think corps must pay their fair share.

On second thought, since all of my earning funnel through a corporation......GOOD IDEA! Sean Hannity will thank you too!

Well, don't get too excited yet. All corps, not just yours, would have no taxes. That means they would have lower costs and could lower prices to get a leg up on the competition. So, very soon competition would force corporate profits back to where they were, but you'd see the savings in lower prices! But, the gov't would be without the corp. tax revenue it had so it would have to raise your taxes. But, because business would be operating far more efficiently, not having to move off shore for example to evade taxes, prices would go down much more than taxes would go up; so we'd all be a lot better off.

If you're a liberal thats all going to be way over your head.

You forgot about GREED, Ayn.

 

[EdwardBaiamonte]

On second thought, since all of my earning funnel through a corporation......GOOD IDEA! Sean Hannity will thank you too!

Well, don't get too excited yet. All corps, not just yours, would have no taxes. That means they would have lower costs and could lower prices to get a leg up on the competition. So, very soon competition would force corporate profits back to where they were, but you'd see the savings in lower prices! But, the gov't would be without the corp. tax revenue it had so it would have to raise your taxes. But, because business would be operating far more efficiently, not having to move off shore for example to evade taxes, prices would go down much more than taxes would go up; so we'd all be a lot better off.

If you're a liberal thats all going to be way over your head.

You forgot about GREED, Ayn.

can you explain what you mean, in detail?