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Thread: GOP blocks bill that would curb tax breaks for firms moving operations overseas

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    Re: GOP blocks bill that would curb tax breaks for firms moving operations overseas

    Perhaps I'm missing something here, but if a company that moves its operations overseas, either completely or in part, is still entitled to tax breaks/deductions, doesn't that imply that the company is paying business taxes in the US? If so, why should they be denied deductions on the taxes they pay?
    "Liberals claim to want to give a hearing to other views, but then are shocked and offended to discover that there are other views." William F. Buckley Jr.

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    Re: GOP blocks bill that would curb tax breaks for firms moving operations overseas

    Quote Originally Posted by mpg View Post
    GOP blocks tax hike on firms moving overseas - US News

    Has anyone heard the Republican side of the story?
    Senate Majority Leader Harry Reid (D-Nev.) blocked Republicans from offering amendments to the bill, which is why they voted against advancing the bill.

    as long as harry reid continues his draconian rule of the senate bills will continue to get blocked. this is the majority of reason that these bills are being filibustered.
    is that reid refuses to allow republicans to submit amendments to the bill.

    so reid can sit on it and spin.

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    Re: GOP blocks bill that would curb tax breaks for firms moving operations overseas

    Quote Originally Posted by Baralis View Post
    Perhaps Im am naive but why do we really need to complicate our tax code by allowing deductions to begin with?
    "Need" might be a strong word.

    A lot of tax deductions are put in to encourage people to do something, or to make it easier to do something. For example, if we want to encourage people to invest, we reduce the capital gains tax. The mortgage deduction is another example of using the tax code to encourage home ownership.

    Unfortunately, another reason is that companies or specific groups want to pay lower taxes. So they wine and dine a few legislators, and get their deductions put in.

    Tax reform sounds like a no-brainer, but every tax deduction and cut has developed its own constituencies. Unfortunately, that means that if you take out the mortgage deduction, you're going to have over half the country screaming to put it back in. I.e. you won't have a clean slate for long.

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    Re: GOP blocks bill that would curb tax breaks for firms moving operations overseas

    Quote Originally Posted by Winchester View Post
    The point of them is to determine a bushiness net income (or loss). I guess if you don't want to tax business then I guess they aren't important for tax purposes anymore. Keep in mind the net income for most business if not directly reported on the owners tax return is reported via a pass-through entity so if you're going to just tax individuals one is still going to need to take business deductions into consideration.

    You can't possibly mean tax them on their gross receipts can you?

    I believe I understand what you are meaning. Me I like simple, I believe simple is better for everyone. My first choice would be to remove business taxes all together but aside from that if you must tax them I think a small percent tax would suffice. I believe this could be on gross earnings as things would adjust and work themselves out to accommodate this.

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    Re: GOP blocks bill that would curb tax breaks for firms moving operations overseas

    Quote Originally Posted by ludin View Post
    Senate Majority Leader Harry Reid (D-Nev.) blocked Republicans from offering amendments to the bill, which is why they voted against advancing the bill. as long as harry reid continues his draconian rule of the senate bills will continue to get blocked.
    *shrug* It's no worse than the Hastert Rule, or filibusters. Or, inserting unrelated amendments into a bill.

    This is just how legislatures work. It's a bit messy, but ultimately you give a little, you get a little, and the bill gets passed.

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    Re: GOP blocks bill that would curb tax breaks for firms moving operations overseas

    Quote Originally Posted by Visbek View Post
    *shrug* It's no worse than the Hastert Rule, or filibusters. Or, inserting unrelated amendments into a bill.

    This is just how legislatures work. It's a bit messy, but ultimately you give a little, you get a little, and the bill gets passed.
    reid is giving nothing that is why that energy bill died as well and it was for the most part going to pass. then reid blocked any and all amendments to the bill and that
    caused the senate to revolt.

    so the republicans are giving reid his own medicine.

    so until reid and senate democrats decide to work with republicans nothing is ever going to make it out of the senate.
    the founding fathers were smart when they made the government the way they did.

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    Re: GOP blocks bill that would curb tax breaks for firms moving operations overseas

    Quote Originally Posted by Paschendale View Post
    Why do you think there's anything other than the actual realities that encompasses all the facts?
    classic strawman




    Quote Originally Posted by Paschendale View Post
    I'm talking about the bizarre idea that there really are two sides to every story.
    Some stories have one side, some stories have two sides, and some stories have many sides. I wouldn't assume that such a short article covered all sides.
    If you expect people to be rational, you aren't being rational.

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    Re: GOP blocks bill that would curb tax breaks for firms moving operations overseas

    Quote Originally Posted by Visbek View Post
    *shrug* It's no worse than the Hastert Rule, or filibusters. Or, inserting unrelated amendments into a bill.

    This is just how legislatures work. It's a bit messy, but ultimately you give a little, you get a little, and the bill gets passed.

    Ok then, name one time in the last 6 years where Ried "gave a little after giving a little ".

    I think he's sitting on something like 350 House Bills.

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    Re: GOP blocks bill that would curb tax breaks for firms moving operations overseas

    Quote Originally Posted by ludin View Post
    Senate Majority Leader Harry Reid (D-Nev.) blocked Republicans from offering amendments to the bill, which is why they voted against advancing the bill.

    as long as harry reid continues his draconian rule of the senate bills will continue to get blocked. this is the majority of reason that these bills are being filibustered.
    is that reid refuses to allow republicans to submit amendments to the bill.

    so reid can sit on it and spin.
    What part of the bill did they dislike other than their limitations to add amendments? I know that there's a general distaste for increasing revenues, and suspect that's probably the underlying issue.
    "The side that stays within its fortifications is beaten." ~Napoleon

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    Re: GOP blocks bill that would curb tax breaks for firms moving operations overseas

    Quote Originally Posted by CanadaJohn View Post
    Perhaps I'm missing something here, but if a company that moves its operations overseas, either completely or in part, is still entitled to tax breaks/deductions, doesn't that imply that the company is paying business taxes in the US?
    They are. However, the bill is designed to end tax breaks that apply when a company moves jobs overseas -- e.g. write-offs for relocating a factory.

    A tiny bit more info:

    Senate Republicans block bill to end tax breaks for outsourcing | TheHill

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