Obama will propose tax on US companies' overseas earnings

There should have been a "relocation" tax passed on companies long time ago.

No one should get to do business in the USA while trying to squirrel away earnings in other countries
 
Yet another illustration of the Liberal understanding of taxation, sometimes referred to as "static scoring." Under "static scoring" you look at how the target group behaves and assume you can do whatever you want to do, tax-wise, and those people or corporations WILL CONTINUE BEHAVING EXACTLY AS THEY HAVE. In this case, if you totally change the taxing dynamic, the people will not react to it.
Some of you may recall that many years ago a Democrat congress decided to impose a luxury tax on boats over a certain value; the tax was projected (statically) to generate billions in new revenue. But the people who buy such yachts are positive paranoid of taxes and they QUIT BUYING NEW YACHTS. Instead, they rented yachts when they needed them or bought used ones. The entire yacht-building industry in the U.S. collapsed, causing thousands to lose their jobs.

Suffice it to say, the corporate tax experts are smarter than the people in Congress, and regardless of what they try, the revenue generated from corporate income taxes will remain about the same.

Approaching the same problem "dynamically," the solution is to reduce the corporate tax rate to the extent that it no longer makes economic sense to go overseas to avoid American taxes.
 
Those earnings are by an American company dodging its obligations to the people of America for making it possible for it making a profit.

Responsible left of center to right of center Americans understand that running a company in our country is a privilege subject to our laws.
 
We already have the highest corporate tax rate as it is. No other country is that stupid. Instead of outsourcing some of them will just pack up and move. Tax and spend liberals never learn.
 
Those earnings are by an American company dodging its obligations to the people of America for making it possible for it making a profit.

Responsible left of center to right of center Americans understand that running a company in our country is a privilege subject to our laws.

Those earnings are by an American company dodging its obligations to the people of America for making it possible for it making a profit.

What obligation does an American subsidiary created in Ireland, for example, making goods in Ireland and sold worldwide, have to the people of America?

Is it different than the obligation a French subsidiary created in Ireland, for example, making goods in Ireland and sold worldwide, has to the people of America?

Why exactly?
 
We are talking about BOTH American companies and non-American companies doing business in America and making profits overseas.

This not a right, only a privilege, and the companies should pay for the privilege.
 
We already have the highest corporate tax rate as it is. No other country is that stupid. Instead of outsourcing some of them will just pack up and move. Tax and spend liberals never learn.

You are willfully stupid if you don't believe the exemptions and deductions do not bring that tax burden down tremendously.

Tell you want.

23% income tax without any prior deductions or exemptions. Fair?
 
We already have the highest corporate tax rate as it is. No other country is that stupid. Instead of outsourcing some of them will just pack up and move. Tax and spend liberals never learn.

You are willfully stupid if you don't believe the exemptions and deductions do not bring that tax burden down tremendously.

Tell you want.

23% income tax without any prior deductions or exemptions. Fair?
You seem to think all corporations can get out of those taxes. I'm not in a position to know what tax burden they can all bear. All I know is if the government rakes in another 10 billion they'll spend 20.
 
Those earnings are by an American company dodging its obligations to the people of America for making it possible for it making a profit.

Responsible left of center to right of center Americans understand that running a company in our country is a privilege subject to our laws.

I read the same thing at CPUSA
 
No, you don't, Frank. But how about 23% income tax for corporations without deductions or exemptions or other breaks.
 
We already have the highest corporate tax rate as it is. No other country is that stupid.
Yeaah, great, but dollar still controls world economics, don't forget. Besides the highest taxes we have the highest national debt, and that's the real bad side of our economy. Don't bother about overseas taxes if you're not international businessman, just relax and better count how much is $18 trillion.
 
We are talking about BOTH American companies and non-American companies doing business in America and making profits overseas.

This not a right, only a privilege, and the companies should pay for the privilege.

We are talking about BOTH American companies and non-American companies doing business in America and making profits overseas.

You want to tax French companies on their overseas earnings, just because they do business here?

This not a right, only a privilege, and the companies should pay for the privilege.

I agree. Companies that make money here should be taxed here on those earnings.
15% would be okay. 10% would be better.
 
Anybody who does business in the USA should be taxed for earning here and overseas. Why not?
 
No, you don't, Frank. But how about 23% income tax for corporations without deductions or exemptions or other breaks.

But how about 23% income tax for corporations without deductions or exemptions or other breaks.

No deductions? Sounds like a 23% tax on revenue.
Is that your idea?
 

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