Obama Calls Out American Companies For 'Gaming The System'

[ogibillm]

now we see why almost 70% of the people in country see's this man as a snake oil salesman

I have no idea how he can stand himself or sleep at night

I wish him hell when he gets to hell

you've never answered, do you believe that companies do not dodge taxes by doing exactly what the president described?

It's legal, as he said, it's not dodging.

you can legally dodge.

 

[Stephanie]

really, do you folks like being PLAYED and your LIVES being played by this man and his party?

they made these laws now ALL OF SUDDEN they aren't GOOD ENOUGH.

every damn day it's something else with this bunch to stir IT and you UP


man get a frikken clue

 

[ogibillm]

Of course they. Legally.

did anyone claim otherwise?

Then why all the angst from Shitting Bull?

If they change the laws and get rid of tax breaks, loopholes and every other way a company can "game" the system it will end.

So. Who's at fault? The company or the Clowns who make the laws??

not the companies - although as has been pointed out they'll lobby and work to avoid changing the system and increasing their tax rate.

 

[OKTexas]

In a CNBC interview on Wednesday, President Barack Obama took aim at corporate inversions -- deals where a U.S. company keeps its operations at home, but moves its formal address overseas to avoid paying taxes.

"Companies thrive in the United States in part because they benefit from the best university system in the world, the best infrastructure," Obama said. "There are a whole range of benefits that have helped to build companies, create value, create profits. For you to continue to benefit from that entire architecture that helps you thrive, but move your technical address simply to avoid paying taxes, is neither fair, nor is it something that's going to be good for the country over the long term."

More: Obama Calls Out American Companies For 'Gaming The System'

U.S. Democrats to target companies moving overseas to dodge taxes | Reuters

Why do Conservatives defend such un-American companies who dodge paying U.S. taxes?

Obviously these companies aren't breaking any laws or the mulatto messiah would turn his boy holder out on them. So he just cries and moans oh wo with me, I just can't get any respect. I guess no body told the sheltered little boy that respect is earned and not a given.

 

[Stephanie]

AND stop being played by lakhoota

his mission is to STIR up shit on the board

nothing more

 

[R.D.]

you've never answered, do you believe that companies do not dodge taxes by doing exactly what the president described?

It's legal, as he said, it's not dodging.

you can legally dodge.

So what's the problem?

 

[ogibillm]

It's legal, as he said, it's not dodging.

you can legally dodge.

So what's the problem?

mostly, it's an uneven playing field. not every company has the resources to shift its headquarters like that, so smaller businesses have a disadvantage. and as the president pointed out, the companies benefit from doing business here, but through exploitation of tax loopholes they're taking those advantages without paying for them - which shifts the costs to those that can't take the same measures.

so the question we need to be asking is is it in the best interests of the united states to continue to allow businesses to dodge their taxes, or should we be working towards closing those loopholes and keeping at least some of that money here.

 

[DrDoomNGloom]

Wait so you write laws to take my profits and when I decide for the good of my family, business and peace of mind that I need to move out of the country and your party tries to implement laws to keep me from moving out of said country, well then I start to feel like your dirty little whore. Who cares what I want, someone other than me deemed it "in the best interest of this country" to deprive me of my rights, I will do what ever is necessary to ensure my happiness and continued success up to and including killing others who wish to deprive me of said rights.

Now while it is clearly evident that you would be on the taking side, what happens when they come for what you have??

Democrats to Propose Tax Laws to Prevent Inversion

t18 Democrats to Propose Tax Laws to Prevent InversionThe Democrats are set to introduce tax laws that prevent inversion in both houses of Congress. In recent times many companies have been in the news for changing their tax domicile from the US to a country with a lower corporate tax in order to avoid paying the 35 percent tax imposed in the US (this is only logical―why not save money so you can pay your employees more?).

Such deals called inversions have been attracting the ire of tax and spend politicians and some folks in the public who have not any problem with paying someone not to work for years on end and do not have a clue about how to increase job growth in America.t210 Democrats to Propose Tax Laws to Prevent Inversion

While some politicians have been calling for a lower tax rate to prevent inversions, others are aiming to make tougher laws that will make inversions more difficult in the future. The latter have the same philosophy that has bankrupted Detroit, is currently destroying Chicago and LA, has devastated Greece and Italy, and has forced businesses to leave New York State.t38 Democrats to Propose Tax Laws to Prevent Inversion

Legal Position

At present inversions are legal though frowned upon by some authorities since they move taxes and jobs overseas which according to many others is a reason to lower taxes. In order to complete an inversion, a US based business first acquires a foreign entity and then restructures the business so that the US unit is reflagged and becomes domiciled in a lower tax paying country.t47 Democrats to Propose Tax Laws to Prevent Inversion

While large companies attempting inversion have found it difficult to achieve their aims, many smaller companies have succeeded in completing a tax inversion buyout and restructuring. Many US investors too would like the companies they have holdings in to consider inversion to lower the taxes they pay.t52 Democrats to Propose Tax Laws to Prevent Inversion

Tax Planning

Whether you are an individual or a business you need to structure your investments and activities with an eye not only on profitability but also taxes. One of the ways some businesses succeed in having a larger profit and sufficient funds for fresh investments is by working constantly to lower their effective tax rate. For this they consult with an experienced tax lawyer who keeps current with the changing tax laws apart from being aware of potential new legislation.

This will help the tax lawyer assess the financial needs of their clients and suggest the best ways of meeting your financial and investment goals while still paying a lower effective tax rate. For this the tax lawyer will suggest various investment vehicles such as trust funds and pension funds as well as a restructuring of the business or relocation.t61 300x186 Democrats to Propose Tax Laws to Prevent Inversion

State Incentives and Exemptions

While many businesses try to move abroad to lower their taxes, a tax lawyer might be able to suggest a move to another state to take advantage of state incentives and exemptions. Many states in the US offer businesses and investors tax incentives and exemptions in order to encourage entrepreneurship, fresh investments, and new job creations. See Florida, Arizona, Texas, and Oklahoma.

By retaining the services of a tax lawyer who is aware of the tax incentives offered by various states for your industry, you will be able to lower your effective tax rate without having to plan an expensive takeover of a foreign company and restructuring of your business abroad.

Specific Goals and Long Term Plans

When a business or individual wants to reduce their tax outgo they should consult a tax lawyer with specific goals and long term plans in mind. By discussing the entire income stream and investment goals with a lawyer, you will be able to come up with a plan that cuts your taxes legally.

Democrats to Propose Tax Laws to Prevent Inversion | Tax Lawyers - USAttorneys.com

Now you little scum bags, see if you can defend that Bull Shit stance!!

 

[Stephanie]

the democrat base has given all power over to the people they've elected and see's nothing, knows nothing and believes all is good
their stance is: party over country

and the Democrat party with Obama leading the PACK by creating as much chaos in your life is their way of getting their agenda passed on you

wake up please

 

[ClosedCaption]

Corporations are people my friend.

But if you say corporations should stop gaming the system some will take exception to it

But if you say people should stop gaming the system those same people will support it

 

[Katzndogz]

He imposes abusive taxes and wonders why companies leave.

 

[kwc57]

Anyone with half a brain knows that U.S. companies have been gaming the system for a long time.

So, not only are religious institutions gaming the system - now U.S. companies are doing the same.

They ALL should be paying taxes.

If it is in the tax code, it is law. They are using the law as written. It isn't gaming the system. Obama as usual either doesn't understand what he is talking about or using rhetoric to further an agenda. I realize he never actually did much attorney work, but he was at least smart enough to pass the bar. You'd think he would be able to understand fundamentals.

 

[DrDoomNGloom]

The system is only being gamed because the tax code allows it. The tax code was written mostly by the democrats that have controlled congress for most of the last 80 years.

The fix is simple, stop sending democrats to congress---also stop sending rinos.

Bullshit. Conservatives want to reduce taxes even more.

So this is akin to saying that by following the rules in any game you are gaming the system....

Why do we have rules?? Are we not supposed to understand these rules??

So at the grocery store do you complain when the person in front of you has a sales add four 4 XXXXXX beverage products that only cost them $2.50 each while you pay $4.95
because you simply failed to take advantage of the available options ??? They understood there was a sale of 4/$10.00 if they failed to take advantage of that who would be responsible for the overpayment they themselves made??

 

[Lakhota]

Corporate greed is getting out of hand, and Mark Cuban isn't going to take it anymore.

The billionaire investor and owner of the NBA's Dallas Mavericks took to Twitter Friday morning to shame companies for moving offshore to buck taxes.

More: Mark Cuban Threatens To Dump Companies That Move Offshore

It's nice to see someone put their money where their mouth is.

 

[Kosh]

WOW! The far left continues to prove their hypocrisy on these subjects.

Next thing they will be posting is that there are still three US auto manufactures in this country.

 

[Rozman]

Wait.

Obama says we need money to repair "crumbling infrastructure and crumbling schools" yet says in this interview that "America has the best infrastructure and schools" in the world.

Why do you Liberals keep supporting this duplicitous fraud?

He doesn't have a clue what's going on..

 

[SAYIT]

Democrats are trying to fix this broken tax system.

U.S. Democrats to target companies moving overseas to dodge taxes | Reuters

More Democrat band-aids intended to plug leaks which are caused by a corp tax code which forces firms to get creative to remain competitive. Rather than continue the regressive strong-arm tactics why not make the code user friendly? You know ... lower corp taxes so it isn't necessary to "game" the system. Betcha never thought of that.

 

[SAYIT]

you've never answered, do you believe that companies do not dodge taxes by doing exactly what the president described?

It's legal, as he said, it's not dodging.

you can legally dodge.

So why the **** is Obama whining about it? Doesn't he have an early tee-time or a fundraiser to attend?

 

[Geaux4it]

Obama is a fool and business is breaking it off in his arse. All the while banking all the QE

-Geaux

 

[The Rabbi]

Missing in this is that companies hire accountants precisely to minimize their tax liabilities. In fact management would face lawsuits from shareholders because they have a fiduciary duty to spend as little money on things like taxes as they can.