Obama Target: Biggest U.S. Firms Park $1.2 Trillion in Profits Offshore

[drivebymedia]

WASHINGTON—The biggest U.S. companies, including General Electric Co. GE +0.80%and Apple Inc., AAPL -0.56%are parking nearly $1.2 trillion in profits offshore, according to a new report from a liberal advocacy group.

The report by U.S. PIRG, which analyzed the public filings of the top 100 U.S. publicly traded companies, also found that 82 companies maintain subsidiaries in low-tax jurisdictions located abroad.


Big U.S. Companies Park $1.2 Trillion in Profits Offshore, Study Finds - WSJ.com


Bad boys ....

 

[CrusaderFrank]

Let's demonize them! That will encourage them to do more work with us!

They didn't even built their businesses! Someone else did that!

Bank ATM's and airport kiosks are ruining the Obamaeconomy!

Unemployment stimulates the Obamaeconomy!

 

[Stephanie]

Once he hits those he'll come after your savings, etc etc next...

cheer away

 

[CrusaderFrank]

What difference does it make?

 

[Toro]

Slash corporate taxes.

Stop taxing overseas profits, like they do in every other country.

Close the offshore loopholes.

 

[boedicca]

Considering that those profits were earned outside of the U.S. and the punitive nature of our tax code, it's perfectly logical and ethical that the funds remain off shore.

But what is Obama's Grant Bargain proposal? Lower tax rates for large corporations to 28%, while leaving the tax rate on small business is at 39.6%.

More Big Government Cronyism to crush Main Street...thank Obama!

 

[drivebymedia]

"The report comes as President Barack Obama calls for a corporate tax overhaul that could remove incentives for companies to park profits overseas

The report by U.S. PIRG, which analyzed the public filings of the top 100 U.S. publicly traded companies, also found that 82 companies maintain subsidiaries in low-tax jurisdictions located abroad.


Big U.S. Companies Park $1.2 Trillion in Profits Offshore, Study Finds - WSJ.com

 

[drivebymedia]

Note: Bush and Republicans tax breaks caused 8 million jobs to be outsourced.

The report of the top 100 U.S. publicly traded companies, found that 82 of the 100 companies maintain subsidiaries in low-tax jurisdictions located abroad.

Jobs .... outsourced .... 8 million

 

[Toro]

"The report comes as President Barack Obama calls for a corporate tax overhaul that could remove incentives for companies to park profits overseas

The report by U.S. PIRG, which analyzed the public filings of the top 100 U.S. publicly traded companies, also found that 82 companies maintain subsidiaries in low-tax jurisdictions located abroad.


Big U.S. Companies Park $1.2 Trillion in Profits Offshore, Study Finds - WSJ.com

I don't know of any other country that taxes overseas profits (though maybe I'm wrong).

 

[Redfish]

WASHINGTON—The biggest U.S. companies, including General Electric Co. GE +0.80%and Apple Inc., AAPL -0.56%are parking nearly $1.2 trillion in profits offshore, according to a new report from a liberal advocacy group.

The report by U.S. PIRG, which analyzed the public filings of the top 100 U.S. publicly traded companies, also found that 82 companies maintain subsidiaries in low-tax jurisdictions located abroad.


Big U.S. Companies Park $1.2 Trillion in Profits Offshore, Study Finds - WSJ.com


Bad boys ....

they are doing nothing illegal, immoral, or unethical---------the money is offshore because the US govt is determined to punish success and reward failure.

 

[Katzndogz]

I think they all tax overseas profits. The difference is, they don't consider taxes paid in foreign jurisdictions as profit, those taxes are deducted and the overall tax rate is much lower. obama taxes the taxes.

 

[drivebymedia]

WASHINGTON—The biggest U.S. companies, including General Electric Co. GE +0.80%and Apple Inc., AAPL -0.56%are parking nearly $1.2 trillion in profits offshore, according to a new report from a liberal advocacy group.

The report by U.S. PIRG, which analyzed the public filings of the top 100 U.S. publicly traded companies, also found that 82 companies maintain subsidiaries in low-tax jurisdictions located abroad.


Big U.S. Companies Park $1.2 Trillion in Profits Offshore, Study Finds - WSJ.com


Bad boys ....

they are doing nothing illegal, immoral, or unethical---------the money is offshore because the US govt is determined to punish success and reward failure.

True, the 8 million low wage jobs the subsidiaries of 82 of the 100 largest U.S. companies outsourced, was not illegal - but moral and ethical?

It was the loss of 8 million jobs, not the lost tax revenues, that cut America at the knees.

These top 100 may not be American citizens after all ....

 

[drivebymedia]

"Obama's Foreign Profit Repatriation Plan"

How the President hopes to reverse the outsourcing of jobs and profits of the Big 100

Obama?s Foreign Profit Repatriation Plan: Video - Bloomberg


Good plan ....

 

[Meister]

WASHINGTON—The biggest U.S. companies, including General Electric Co. GE +0.80%and Apple Inc., AAPL -0.56%are parking nearly $1.2 trillion in profits offshore, according to a new report from a liberal advocacy group.

The report by U.S. PIRG, which analyzed the public filings of the top 100 U.S. publicly traded companies, also found that 82 companies maintain subsidiaries in low-tax jurisdictions located abroad.


Big U.S. Companies Park $1.2 Trillion in Profits Offshore, Study Finds - WSJ.com


Bad boys ....

they are doing nothing illegal, immoral, or unethical---------the money is offshore because the US govt is determined to punish success and reward failure.

True, the 8 million low wage jobs the subsidiaries of 82 of the 100 largest U.S. companies outsourced, was not illegal - but moral and ethical?

It was the loss of 8 million jobs, not the lost tax revenues, that cut America at the knees.

These top 100 may not be American citizens after all ....

Get back to me when it is illegal, until then go pound sand.

 

[B. Kidd]

"Obama's Foreign Profit Repatriation Plan"

How the President hopes to reverse the outsourcing of jobs and profits of the Big 100

Obama?s Foreign Profit Repatriation Plan: Video - Bloomberg


Good plan ....

Window dressing.
No real political will here from the Prez who initially hired Bush's economic team.

 

[Meister]

Considering that those profits were earned outside of the U.S. and the punitive nature of our tax code, it's perfectly logical and ethical that the funds remain off shore.

But what is Obama's Grant Bargain proposal? Lower tax rates for large corporations to 28%, while leaving the tax rate on small business is at 39.6%.

More Big Government Cronyism to crush Main Street...thank Obama!

Obama is for Big Business? Where is the outrage from the left?

 

[drivebymedia]

"Obama's Foreign Profit Repatriation Plan"

How the President hopes to reverse the outsourcing of jobs and profits of the Big 100

Obama?s Foreign Profit Repatriation Plan: Video - Bloomberg


Good plan ....

Window dressing.
No real political will here from the Prez who initially hired Bush's economic team.

No political will on either side to curb overseas profits.

But Obama is willing to sacrifice the overseas profits for bringing home the jobs ....

 

[The Rabbi]

"Obama's Foreign Profit Repatriation Plan"

How the President hopes to reverse the outsourcing of jobs and profits of the Big 100

Obama?s Foreign Profit Repatriation Plan: Video - Bloomberg


Good plan ....

Window dressing.
No real political will here from the Prez who initially hired Bush's economic team.

No political will on either side to curb overseas profits.

But Obama is willing to sacrifice the overseas profits for bringing home the jobs ....

Yes we must curb profits. How dare companies make money, which they can use to hire workers, engage in research, or buy capital goods. Only the gov't can do those things!

 

[CrusaderFrank]

See, that's why Failed Progressive economies always have to build walls to keep people from fleeing

 

[freedombecki]

Note: Bush and Republicans tax breaks caused 8 million jobs to be outsourced.

The report of the top 100 U.S. publicly traded companies, found that 82 of the 100 companies maintain subsidiaries in low-tax jurisdictions located abroad.

Jobs .... outsourced .... 8 million

How did Bush and the Republicans make Unions demand $125/hour wages in the automotive industry to make American cars non-competitive abroad? How did they force them to do such a stupid thing?

And what did Bush have to do with jobs outsourced long before he became President? I remember companies going under in the 70s because Unions were so focused on getting all the shareholders' earnings, they weren't listening to management saying they were unwilling to keep doors open and taking a loss and failure to attract financial support from stockholders by falling stock prices?

I am so mystified by your assumption that the blame goes to Republicans for what private industries had to deal with from Union bosses who had nothing to lose if a couple of hundred employees here and there lost their union jobs over failure to listen to the facts of management.



Be specific as per dates, won't you?