Walt Disney and Skype, negotiating advanced tax deals with the Luxembourg authorities.

[barryqwalsh]

The new batch of leaked confidential documents expands the list of major corporations known to have secret deals with the Luxembourg tax authorities, and includes the politically controversial Koch Industries conglomerate and 33 other companies.

New Luxembourg leaks to increase pressure on Juncker

 

[barryqwalsh]

I put this in the 'Law and Justice System' section, as I believe equality before the law should also apply to tax law.

Wealthy individuals and corporations should not get special deals.

 

[FA_Q2]

Yes they should which is why we need a real and true flat tax. Then sweetheart deals would be impossible. You will never see tax real tax reform though - it is where the lawmakers get their real power and the ability to bilk millions from these companies for the promise of billions to them through such practices.

 

[Indofred]

I put this in the 'Law and Justice System' section, as I believe equality before the law should also apply to tax law.

Wealthy individuals and corporations should not get special deals.

Yes they should.
If a country can increase its tax revenue by making deals with big corps, I see no reason why they shouldn't do it.
The country in question benefits, and people in that country benefit from the new employment opportunities.
The high tax country loses out, but they should have been better capitalists, so tough shit.

 

[barryqwalsh]

Yes they should.
If a country can increase its tax revenue by making deals with big corps, I see no reason why they shouldn't do it.
The country in question benefits, and people in that country benefit from the new employment opportunities.
The high tax country loses out, but they should have been better capitalists, so tough shit.[/QUOTE]

You are a supporter of voodoo economics then.

When wealthy individuals and corporations avoid taxation we the peoplel lose. The only winners are the wealthy individuals and corporations.

 

[Indofred]

You are a supporter of voodoo economics then.

When wealthy individuals and corporations avoid taxation we the peoplel lose. The only winners are the wealthy individuals and corporations.

Capitalist entities exist to make money, nothing else.
These companies are not avoiding tax, just shopping around for a better deal, just as you might very well go to a shop that sells the product you buy at a lower price.
The fault here lies with the higher tax countries; they lose tax revenue and leak jobs from the country because they charge too much.

If you complain about Disney and Skype shopping around, you should buy your next stereo at the most expensive shop you see.

Will you?

 

[FA_Q2]

You are a supporter of voodoo economics then.

When wealthy individuals and corporations avoid taxation we the peoplel lose. The only winners are the wealthy individuals and corporations.

Capitalist entities exist to make money, nothing else.
These companies are not avoiding tax, just shopping around for a better deal, just as you might very well go to a shop that sells the product you buy at a lower price.
The fault here lies with the higher tax countries; they lose tax revenue and leak jobs from the country because they charge too much.

If you complain about Disney and Skype shopping around, you should buy your next stereo at the most expensive shop you see.

Will you?

The problem with allowing companies to manipulate the tax code for their benefit is that it seriously warps the market. This is NOT an example of capitalism at all.

the end result is allowing a major company that has the resources to essentially warp the tax code can then produce a product cheaper than its competitors who cannot warp the laws to suit them. This stifles innovation rather than encourages it.

It is one of the core reasons that major corporations no longer have any real competition. In the end, what you end up with is a more expensive radio with less options because you can only buy a few. Tax code should not give any single company a competitive edge over another. That is clear cronyism.

 

[whitehall]

Is Luxembourg on the OWS enemies list? The US has the highest corporate tax in the world. Why shouldn't corporations try to get a better (legal) tax deal anywhere else in the world? Thanks to the convoluted US tax law (add Obamacare to the mixture) there is a gigantic legal tax law industry in the US dedicated (legally) to circumventing tax laws. That's how the system works.

 

[BlackSand]

You are a supporter of voodoo economics then.

When wealthy individuals and corporations avoid taxation we the peoplel lose. The only winners are the wealthy individuals and corporations.

Keep fighting the rich and they will leave you to your ruin ... Push them on out the door and see how much you get paid for your efforts.



.

 

[BlackSand]

I put this in the 'Law and Justice System' section, as I believe equality before the law should also apply to tax law.

Wealthy individuals and corporations should not get special deals.

I don't want to be overly simplistic ... But I think you overestimate your position ... Unless you plan on imprisoning the rich and forcing them to make more money while incarcerated.

I mean face it ... Rich people can afford to relocate ... They can afford their own top-notch medical care ... They can afford their own security ... They can pay someone to build a road for them if needs be.

You simply don't have the leverage to make unreasonable demands ... And expect that the rich will sit around and let you screw them.

.

 

[Indofred]

Keep fighting the rich and they will leave you to your ruin ... Push them on out the door and see how much you get paid for your efforts.



.

You forgot, "Get rich and stop worrying about it".
America was founded on a series of ideals, one being the American dream of rags to riches.
Don't fight it, it's one of the best things about America.

 

[whitehall]

I put this in the 'Law and Justice System' section, as I believe equality before the law should also apply to tax law.

Wealthy individuals and corporations should not get special deals.

I don't want to be overly simplistic ... But I think you overestimate your position ... Unless you plan on imprisoning the rich and forcing them to make more money while incarcerated.

I mean face it ... Rich people can afford to relocate ... They can afford their own top-notch medical care ... They can afford their own security ... They can pay someone to build a road for them if needs be.

You simply don't have the leverage to make unreasonable demands ... And expect that the rich will sit around and let you screw them.

.

Poor people can afford to relocate easier than rich people. Relocation ain't the issue except for low information lefties who ain't got a clue of anything but flipping burgers and copping joints. Ever hear of the title ...."tax lawyer"? Tax attorneys make more money than the fools who make the rules in congress. The US corporate tax system is screwed up for the same reason Gruber bragged about passing Obamacare. Democrats think Americans voters are stupid.

 

[BlackSand]

Poor people can afford to relocate easier than rich people. Relocation ain't the issue except for low information lefties who ain't got a clue of anything but flipping burgers and copping joints. Ever hear of the title ...."tax lawyer"? Tax attorneys make more money than the fools who make the rules in congress. The US corporate tax system is screwed up for the same reason Gruber bragged about passing Obamacare. Democrats think Americans voters are stupid.

Rich folks can move to St. Kitts tomorrow and pay someone to hand wrap every one of their belongings individually and ship each one separately first class air through China on the way to their new house in the Caribbean. They need a travel agent more than a lawyer half the time ... I have seen one rich guy use his lawyer (albeit not his tax lawyer to be fair) as his caddy.

Honestly ... All I wonder about is how long it will be before rich folks just tell Congress to pay for their own crap and leave.

Screw it ... There is a five square mile island for sale about half-way between St Thomas and St. John for $13 million USD. There isn't anything on it ... But that could be remedied,



.

 

[Indofred]

Almost any American can reject America as their mother country, and live abroad, avoiding all US taxes.

Why should companies be any different?

 

[irosie91]

Almost any American can reject America as their mother country, and live abroad, avoiding all US taxes.

Why should companies be any different?

not quite true-----I believe----I think----not sure----an
American living abroad is still liable to INCOME TAX---of
the federal variety-----assuming he wishes to retain US
citizenship

 

[BlackSand]

Almost any American can reject America as their mother country, and live abroad, avoiding all US taxes.

Why should companies be any different?

not quite true-----I believe----I think----not sure----an
American living abroad is still liable to INCOME TAX---of
the federal variety-----assuming he wishes to retain US
citizenship

American citizens living overseas are still liable to income tax (except in the rare cases of dual-citizenship where the taxes are determined by another manner individually).

What that doesn't address is when they own a business off-shore and decide not to pay themselves ... But still have access to business funds held off-shore. If they try to repatriate any of that money and bring it back into the country ... They will be taxed at 35% for corporate funds.

Other than that ... The business is taxed where it exists.

There are all kinds of ways to avoid taxes and fees that are not illegal. For instance ... If I want to purchase and operate a commercial vessel (boat) ... And avoid oppressive taxes, fees and licensing requirements ... All I have to do is go to the Bahamas, then purchase and license the vessel out of a port there ... And upkeep those requirements annually.

You still have to pay taxes for the business you conduct in the states ... Or for revenue earned by a stateside business.

.

 

[Indofred]

Almost any American can reject America as their mother country, and live abroad, avoiding all US taxes.

Why should companies be any different?

not quite true-----I believe----I think----not sure----an
American living abroad is still liable to INCOME TAX---of
the federal variety-----assuming he wishes to retain US
citizenship

A US citizen does have to pay tax if he lives outside the US of A, hence my suggestion regarding them rejecting the US.
I'm unsure on this point, but I believe the US is the only country to tax you if you change citizenship.
I know the IRS does it, but I'm unsure of any other country does.
This is a big issue amongst American expats.

 

[whitehall]

The ironic thing is that a freaking corporate pirate, George Soros, is in a position with his tax exempt left wing Media Matters conglomerate to post all sorts of anti-capitalist propaganda and the low information left wing laps it up like pablum and posts it without thinking.

 

[Darkwind]

I put this in the 'Law and Justice System' section, as I believe equality before the law should also apply to tax law.

Wealthy individuals and corporations should not get special deals.

They aren't. Nothing prevents you from going to the Luxembourg tax authorities and trying to negotiate a deal for yourself.

Here is an idea.

End the punitive redistribution of wealth in the United States and they won't feel the need to go elsewhere.

BTW...there is nothing controversial about Koch Industries. They are a simple corporation that is heavily invested in America, the people of America and provide opportunities to their employees that can never be given to them by government.

 

[Darkwind]

Poor people can afford to relocate easier than rich people. Relocation ain't the issue except for low information lefties who ain't got a clue of anything but flipping burgers and copping joints. Ever hear of the title ...."tax lawyer"? Tax attorneys make more money than the fools who make the rules in congress. The US corporate tax system is screwed up for the same reason Gruber bragged about passing Obamacare. Democrats think Americans voters are stupid.

Rich folks can move to St. Kitts tomorrow and pay someone to hand wrap every one of their belongings individually and ship each one separately first class air through China on the way to their new house in the Caribbean. They need a travel agent more than a lawyer half the time ... I have seen one rich guy use his lawyer (albeit not his tax lawyer to be fair) as his caddy.

Honestly ... All I wonder about is how long it will be before rich folks just tell Congress to pay for their own crap and leave.

Screw it ... There is a five square mile island for sale about half-way between St Thomas and St. John for $13 million USD. There isn't anything on it ... But that could be remedied,



.

Hands off My island!!