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Obama Opens Bidding on Corporate Taxes

mbig said:
A very constructive move I think.
Fair point for starting numbers.
Though I think he may have to go even lower to get the $2 Trillion hoard. Perhaps 8%-10%.
We'll see.
It's time we dealt with the foreign [and shifting of] earnings and 'inversion'/moving offshore issue.
We also certainly need infrastructure spending.
I think there's stuff for Both parties here.


Obama Opens Bidding on Corporate Taxes
Proposes One-Time 14% Tax on Overseas Earnings and Links It to Improving Highways, Transit
By NICK TIMIRAOS and JOHN D. MCKINNON
Updated Feb. 1, 2015 9:52 p.m. ET
Obama Opens Bidding On Taxes - WSJ
Click to expand...



So he is saying you pay us 14% of your overseas earnings and we will do some infrastructure building.

OK.

This reminds me of $7 trillion in borrowed $ and those "shovel ready" infrastructure jobs that weren't "as, haw,. haw, not as shovel ready as we, har, har, thought."

Sounds like a good idea now, but then so did Obamacare when he started talking about it. This ass hole has no end of ideas, NOW that he's a dead issue....

But there's that record of his and how what he says never seems to be anything like what is....
 
justabubba said:
i take the opposite position in this instance
only the USA and the world's worst economy, eritrea, tax profits earned outside their national borders
now, the reason we do it is because the multi-national corporations can and do misrepresent earnings in one country as having been earned in another, for purposes of tax avoidance
but if we instead imposed a flat tax on ALL revenues, from every transaction, with NO tax deductions/exemptions (a la Milton Friedman), we would not need to be concerned with what was earned or parked off shore
this is just one of many beneficial aspects of moving our nation to a flat tax system
Click to expand...

You will never have a flat tax.....

But, competing nations, like Canada, Ireland, Australia etc are licking their chops at this news.

Canada especially where we have landed some large US firms who have come to escape the Obamacare tax that isn't a tax, and now this.

Go for it Obama....but the chances of Americans actually seeing infrastructure out of this are very thin...you're better off on the slots in Vegas
 
Fearandloathing said:
You will never have a flat tax.....

But, competing nations, like Canada, Ireland, Australia etc are licking their chops at this news.

Canada especially where we have landed some large US firms who have come to escape the Obamacare tax that isn't a tax, and now this.

Go for it Obama....but the chances of Americans actually seeing infrastructure out of this are very thin...you're better off on the slots in Vegas
Click to expand...

and that's the point
they are NOT US corporations
they have no allegiance except to their shareholders
why should we expect any corporation to act in the best interests of the USA
 
justabubba said:
yes, he is attempting to repatriate the money held off shore
Click to expand...

Exactly!

The reason that companies are allowed to defer paying taxes on overseas revenues is to help these companies to compete against the existing, foreign companies who, oftentimes, have substantial advantages over American companies.
These foreign companies could have access to natural resources, man power, legislative benefits, etc.

It is essentially a break to our companies so that they can acquire a "foothold" in foreign lands and compete effectively.
A globalized economy is here and it is not going anywhere. Successful companies know this.
 
justabubba said:
and that's the point
they are NOT US corporations
they have no allegiance except to their shareholders
why should we expect any corporation to act in the best interests of the USA
Click to expand...



The man thinks parochially.....that he and the white house are the only reason for existence. I once, years ago, read a speech of his from his Senate run where he seemed unaware that other countries have treaties and trad with each other....

Since taking office, when the 50 plus small companies started looking for a safe haven in Canada, the White House could only at first deny it, then down play it.

There is no such thing as a Canadian company, or an American company beyond the banks, they only have real estate where they need to have an address.
 
joG said:
I guess it is important to know ecevery detail of his pla gage the exact impact. But cp this sounds rather s dismally counterproductive way to do that. It will cost the country productivity, wealth and jobs unless there are points undisclosed. Do you have an impact study?
Click to expand...

More importantly does Obama?

He's the one proposing the tax, he's the one makes $650,000 a year plus all expenses, he's the one with the multi-milion dollar budget for "experts"....

Maybe JayZee can help him out, he's rich.

The truth? Obama hasn't got that far and woulnd't understand it if he did...there is that really nasty example of Obamacare and how that lived up to IT'S billing.
 
justabubba said:
yes, he is attempting to repatriate the money held off shore
Click to expand...

Why can a corp hold profits offshore during a taxation year. US citizens are taxed on their worldwide income are they not?
Yet corps can wait years, as they did last time for a special reduction, under Bush if I recall, to repatriate income from abroad for taxation.
 
Fearandloathing said:
You will never have a flat tax.....

But, competing nations, like Canada, Ireland, Australia etc are licking their chops at this news.
Canada especially where we have landed some large US firms who have come to escape the Obamacare tax that isn't a tax, and now this.
Go for it Obama....but the chances of Americans actually seeing infrastructure out of this are very thin...you're better off on the slots in Vegas
Click to expand...
LOL
You don't have Obamacare, you have National Health Care.. which everyone pays for.
Correct me if any of this is wrong, but it doesn't look like 'Tax heaven' for the people IN those corporations.
You have:

National Income Taxes - - - 15%-29%
Provincial Income Taxes - - - 7%-17%
Canadian income tax rates for Individuals - current and previous years
BOTH Progressive, and iow, a top Income tax rate of app 46%.

A National VAT Tax - - - - - 5%

Provincial Sales Taxes: - - 5%-15%
Taxation in Canada - Wikipedia, the free encyclopedia

Corporate Income Taxes
Capital Gains Taxes, that include only Half the amount made.​

Did I leave anything out?
IOW, a 10%-20% Sales tax, AND a 22-46% Income tax, the latter to include half of Capital Gains as well.
OUCHER.
 
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mbig said:
LOL
You don't have Obamacare, you have National Health Care.. which everyone pays for.
Correct me if any of this is wrong, but it doesn't look like 'Tax heaven' for the people IN those corporations.
You have:

National Income Taxes - - - 15%-29%
Provincial Income Taxes - - - 7%-17%
Canadian income tax rates for Individuals - current and previous years
BOTH Progressive, and iow, a top Income tax rate of app 46%.

A National VAT Tax - - - - - 5%

Provincial Sales Taxes: - - 5%-15%
Taxation in Canada - Wikipedia, the free encyclopedia

Corporate Income Taxes
Capital Gains Taxes, that include only Half the amount made.​

Did I leave anything out?
OUCHER
Click to expand...



We have no such thing....but nice try.

No one pays anything...not one person pays oput of pocket for health care and we sure as **** do not line the pockets of Obama's supporters.

And you left out the companies that have come here
 
Fearandloathing said:
We have no such thing....but nice try.

No one Pays Anything...not one person pays oput of pocket for health care and we sure as **** do not line the pockets of Obama's supporters.
And you left out the companies that have come here
Click to expand...
Nice Lying!
I documented all the Taxes.
"No one pays for anything" (Love it!)
You dishonestly/irrelevantly say it's "Not out of Pocket", But NO one said it was!
That was the Whole Point of outlining the BIG Income and Sales taxes that DO pay for it.
FearandLoathing Outed.
Who would even try such disingenuous debate?

I don't think I'll be moving North for Tax relief or a Heavily sales-taxed retirement.
 
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