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Thread: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. Taxes

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    Re: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. T

    " If the companies brought that money home, they would pay combined more than $92 billion in U.S. taxes, the report found."

    My understanding is that they want to bring the money "home" from all the profits they made overseas. Not like they made the money off of US citizens. The next thing you know these companies are going to move to where all their money is. Probably won't hurt the feds but it will hurt the state and local governments.

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    Re: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. T

    If a company can avoid taxes legally, then the CFO wouldn't be doing his job if he didn't take advantage of it. That's how business works. Don't be angry at the companies. They are doing what companies do and doing it as they should do it. Be angry at the tax laws. Sorry, this one is clearly on the government, not the private sector.

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    Re: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. T

    Good for them, our government will only have wasted it anyways.
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    Re: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. T

    Quote Originally Posted by ReformCollege View Post
    Or, or, or. Perhaps this is a sign that our corporate taxes (the highest in the world) are too high? :O
    They're never too high or too low, corporations don't pay taxes, they pass the cost down to the consumers of their products/services.

    Quote Originally Posted by AliHajiSheik View Post
    " If the companies brought that money home, they would pay combined more than $92 billion in U.S. taxes, the report found."

    My understanding is that they want to bring the money "home" from all the profits they made overseas. Not like they made the money off of US citizens. The next thing you know these companies are going to move to where all their money is. Probably won't hurt the feds but it will hurt the state and local governments.
    If only we stopped chasing the money away and were more business friendly so it would stay.
    Haymarket's "support" of the 2nd Amendment, a right he believes we never had.
    Quote Originally Posted by haymarket View Post
    no. You cannot lose rights you do not have in the first place. There is no such thing as the right to have any weapon of your choice regardless of any other consideration. It simply does not exist.

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    Re: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. T

    Capital is extremely portable and the resources of businesses and the technical acumen of their advisers and staff dwarfs that of their regulators. I think it is not only a waste of energy and resources to try and "go after" these companies but that it is billed as a deceptively simple solution that is primarily populist misdirection. Look at how poor our job market is, look how anemic our growth is... look at those fat cats hiding their wealth from you! It's an easy answer, it doesn't mean the solution actually is easy let alone worth it.

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    Re: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. T

    Quote Originally Posted by TheDemSocialist View Post
    Read more @: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. Taxes: CTJ

    All which could of been used to pay down that deficit [/FONT][/COLOR]
    Good for them. The money wouldn't of been used for deficit anyways. If you really are concerned about the deficit, then lets start cutting out useless socialist bs that weakens the country and promotes weak individuals who rely on government instead of doing things themselves.

    If social spending won't be cut, then more companies should do this until the government spending spree causes total collapse of the budget and then let people reap the harvest they have sown.
    Only a fool measures equality by results and not opportunities.

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    Re: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. T

    Quote Originally Posted by MaggieD View Post
    I blame Congress, not the companies. These loopholes should have been closed YEARS ago. I'll bet 90% of our tax code is written for loopholes to the taxes imposed. It's a bunch of crap.
    I do not totally disagree with you, however, if a company does not exist in the US and never brings money to the US, then how does the US have a claim on any of that companies profits, even if the company is owned or partially owned by US individuals or Companies? Dividends paid, capital gains,etc of the US entities, sure, but not total or even any profits of the foreign company. Congress simply cannot extend taxation outside of US jurisdictions or to non-US entities.
    Only a fool measures equality by results and not opportunities.

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    Re: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. T

    Quote Originally Posted by DVSentinel View Post
    I do not totally disagree with you, however, if a company does not exist in the US and never brings money to the US, then how does the US have a claim on any of that companies profits, even if the company is owned or partially owned by US individuals or Companies? Dividends paid, capital gains,etc of the US entities, sure, but not total or even any profits of the foreign company. Congress simply cannot extend taxation outside of US jurisdictions or to non-US entities.
    Well, if that's the way it's done, then why do we have any claim on it being taxed in the first place? If what you're saying is that companies that are headquartered in the United States keep their foreign profits separate? Why are we unhappy they're doing that? It's their right. We shouldn't have any claim to profits made in other countries....unless they bring it home. And why would they? They need expansion money, investment money, etc., etc. in their foreign operations. (I didn't read the OP right...we have no claim to that money.)
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    Re: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. T

    Quote Originally Posted by MaggieD View Post
    Well, if that's the way it's done, then why do we have any claim on it being taxed in the first place? If what you're saying is that companies that are headquartered in the United States keep their foreign profits separate? Why are we unhappy they're doing that? It's their right. We shouldn't have any claim to profits made in other countries....unless they bring it home. And why would they? They need expansion money, investment money, etc., etc. in their foreign operations. (I didn't read the OP right...we have no claim to that money.)
    The US Taxes companies here on Global Profits, not just domestic profits. We are the only Industrialized nation to do so and we also have the highest corporate tax rate of any Industrialized nation. The surprise is not that some are doing it, but that these owners/shareholders are actually patriotic enough to keep their companies registered in the US.
    Only a fool measures equality by results and not opportunities.

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    Re: 18 Of America's Biggest Companies Using Tax Havens To Skirt $92 Billion In U.S. T

    Quote Originally Posted by Lachean View Post
    They're never too high or too low, corporations don't pay taxes, they pass the cost down to the consumers of their products/services.



    If only we stopped chasing the money away and were more business friendly so it would stay.
    They are too high when companies that pay taxes are at a 35% disadvantage to ones that don't.

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