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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

    Quote Originally Posted by Conservative View Post
    Actually the credit for the economy in this country will always go to the private sector, in Europe it is all about govt. spending. Obama's transformation of this country into the European socialist economy is what we are seeing today with the very poor economic results.
    Sure. The specific impetus in the 90's was the internet which, of course, is part of the private sector.

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

    Quote Originally Posted by jamesrage View Post
    Other than the GOP having their lips firmly wrapped around the cocks of businesses? It's possible that there are other things in the bill other than tax hikes on traitorous companies.
    Quote Originally Posted by TurtleDude View Post
    that's an interesting take on corporations whose main duty is to make their owners money. If moving the company does that because the US makes doing business too expensive, so be it.
    I suppose that's fair enough TurtleDude, but should we really be greasing the skids by defraying the costs of leaving the country?

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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? All businesses have expenses and that is an expected part of having a business. It just seems that deductions are a means for businesses who better understand tax law to have a better advantage. Would it not make as much sense in the end to either remove deductions completely or even remove business taxes altogether and have the tax only applied to an individuals income from said business?

    Perhaps someone could explain to me the advantages of having corporate taxes and/or business deductions.
    Tax deductions are a way to incentivize investments. Most are only used as cost-savings, but the idea behind such tax breaks is for entrepreneurs/small business owners/corporations to be able to put more money back into their businesses for growth and development. Of course, the debate is do business owners large and small really use tax breaks that way OR do they just pocket the cost-savings from the tax write-off?
    "A fair exchange ain't no robbery." Tupac Shakur w/Digital Underground

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

    Quote Originally Posted by jamesrage View Post
    Other than the GOP having their lips firmly wrapped around the cocks of businesses? It's possible that there are other things in the bill other than tax hikes on traitorous companies.
    Quote Originally Posted by jamesrage View Post
    I believe this is the bill in question.
    https://beta.congress.gov/bill/113th...bill/2562/text
    Read it....seems rather straight-forward to me. US companies which have established business operations overseas establish their business back in the U.S. In so doing, they receive tax credits for everything from licensing and permit fees, equipment installation cost, and other similar expenses as authorized by the TreaSec. (Sec 2, [Sec 45S(b)(2), as amended]) Perhaps the GOP doesn't think those credits apply deeply enough to other business-related expenses. Maybe construction cost should be added. Of course, why would they when all the corporation's Board of Directors would have to do is approve a commercial bond issuance to raise such capital.

    On the other side, you have Sec 3 of the bill, "Denial of Deductions for Outsourcing Expenses," which essentially says "you don't get a tax break for any expenses incurred for having outsourced your company in the first place. You already go that tax break under the "outsourcing" tax break the fed gave you years ago". Maybe that's a bigger bone of contention from the GOP in an effort to placate Corporate America. Who knows...just have to stay tuned to C-SPAN for the latest and greatest Senate floor scuffles and hear what they're really saying.
    "A fair exchange ain't no robbery." Tupac Shakur w/Digital Underground

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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
    ok so you have no argument to man instead are just making unfoundational assumption with no proof.

    have a nice day.
    How is it unfounded? When have the republicans ever tried to crack down on outsourcing?
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

    Cicero Marcus Tullius

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

    Quote Originally Posted by jamesrage View Post
    How is it unfounded? When have the republicans ever tried to crack down on outsourcing?
    You said your self that it was an assumption, and the only reason you gave for that assumption was a hyperbolic accusation, for which you offered no evidence.
    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 mpg View Post
    You said your self that it was an assumption, and the only reason you gave for that assumption was a hyperbolic accusation, for which you offered no evidence.
    So the republicans don't favor outsourcing and tax breaks for every business?
    "A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly. But the traitor moves amongst those within the gate freely, his sly whispers rustling through all the alleys, heard in the very halls of government itself. For the traitor appears not a traitor; he speaks in accents familiar to his victims, and he wears their face and their arguments, he appeals to the baseness that lies deep in the hearts of all men. He rots the soul of a nation, he works secretly and unknown in the night to undermine the pillars of the city, he infects the body politic so that it can no longer resist. A murder is less to fear"

    Cicero Marcus Tullius

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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?
    I think that they like to block almost everything...

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

    Quote Originally Posted by SheWolf View Post
    I think that they like to block almost everything...
    LOL, isn't that how a democracy works? Democrats of course never used those tactics in the 40 years they controlled the House. tell me why it has to be Obama's way or the highway? Absolutely Amazing, Republicans are blocking everything but Harry Reid with all those House Passed bills in his desk isn't? Make sense to anyone?

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

    Quote Originally Posted by Objective Voice View Post
    Read it....seems rather straight-forward to me. US companies which have established business operations overseas establish their business back in the U.S. In so doing, they receive tax credits for everything from licensing and permit fees, equipment installation cost, and other similar expenses as authorized by the TreaSec. (Sec 2, [Sec 45S(b)(2), as amended]) Perhaps the GOP doesn't think those credits apply deeply enough to other business-related expenses. Maybe construction cost should be added. Of course, why would they when all the corporation's Board of Directors would have to do is approve a commercial bond issuance to raise such capital.

    On the other side, you have Sec 3 of the bill, "Denial of Deductions for Outsourcing Expenses," which essentially says "you don't get a tax break for any expenses incurred for having outsourced your company in the first place. You already go that tax break under the "outsourcing" tax break the fed gave you years ago". Maybe that's a bigger bone of contention from the GOP in an effort to placate Corporate America. Who knows...just have to stay tuned to C-SPAN for the latest and greatest Senate floor scuffles and hear what they're really saying.
    That's not how I read Sec 3. It says "you no longer get to deduct expenses relating to outsourcing that you were previously allowed" Insourcing expenses are still deductible and earn a 20% tax credit even if they're a return to the US of jobs that were previously outsourced

    Also, there's no evidence that the GOP objects to Sec 3. So far, it appears that their objection is that the bill doesn't lower the corporate income tax rate.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
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    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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