Free Republic
Browse · Search
News/Activism
Topics · Post Article

To: Action-America
Pardon me A-A that is lamest excuse I ever heard!

If an American Company moves off-shore to be more competitive as an US compampny defies logic. The fact they do it to avoid tax US taxes is almost treasonous.

As investor you will pay some Capital gains tax. As worker in those companies you pay an income tax. That all goes in to the coffers to pay for what we demand as tax payers.

Honestly that could be guns or butter, you decide!

So if we pay at the counter or we pay at at April 15th that's ok with you?

My own personal exerience is at the last investment bank where I worked before the lay off. I had a 2 millions infrastructure that project that got canceled. Subsequently they laid of several hundred people: co-workers. Well I made the second round with a few more co-workers. Guess what? The CEO is in a law suit for getting 18 million more than the parent company thought he should get. Well that could of kept a few of us at work.

I hope he gets the shit taxed out him right now!!!!!









28 posted on 07/31/2002 9:16:45 PM PDT by Madame de Winter
[ Post Reply | Private Reply | To 24 | View Replies ]


To: Madame de Winter
If an American Company moves off-shore to be more competitive as an US compampny defies logic. The fact they do it to avoid tax US taxes is almost treasonous.

They're only moving their books offshore. It makes them more competitive because it allows them to lower prices, increase return on investment, or raise wages. That is purely logical.

Do you minimize your taxes, or do you just pay willy nilly extra when you don't have to? You see, minimizing your tax bill is not "treasonous", it's just stupid not to do so.

No company can stay in business if it doesn't take advantage of every opportunity to save costs. Why do you spite those who choose to keep their company alive? Dead companies pay zero tax and provide zero jobs.

US companies compete with foreign companies, obviously. But foreign companies don't have the cost of income taxes built into their goods as US goods have. This makes it impossible for US companies to compete. To stay alive, they MUST reduce costs where possible. It is legal and possible to minimize tax as these companies have done, so at least they're still in business providing US jobs!

30 posted on 07/31/2002 9:36:04 PM PDT by Principled
[ Post Reply | Private Reply | To 28 | View Replies ]

To: Madame de Winter

If an American Company moves off-shore to be more competitive as an US compampny defies logic. The fact they do it to avoid tax US taxes is almost treasonous.

Your lack of understanding of how business works is exceeded only by your understanding of what comprises treason.

First, it is the avoidance of excessive US taxes that allows these expatriating companies to be more competitive with their foreign counterparts.  In many cases, it's either that, or eventually be bought out by their more profitable foreign competitors, who do not face such oppressive taxes.  After all, our corporate tax rate is one of the highest in the world and the US is one of the very few countries that taxes offshore income.

So, in effect, our lawmakers are forcing our largest companies offshore, either through expatriation or sale to foreign entities.  Expatriation makes for a more profitable US company and keeps jobs here.  Sale to a foreign entity will, in most cases, mean the loss of US jobs.

Second, as for your ridiculous reference to treason, you should keep in mind that the companies that we are talking about are multinational companies with a multinational shareholder base.  In fact, it is entirely possible that some of those companies may have more foreign shareholders than US shareholders.  To commit treason, you must first be a citizen of the country against which the crime is to be committed.  But a company is not a citizen, as it doesn't vote and it can't hold office.  In fact, the only thing that makes a company a US company, is that at the time of incorporation, the US was the most beneficial jurisdiction to incorporate in (just like companies tend to incorporate in Wyoming and Nevada, more than in New York and California, even if they do most of their business in one of those other states).

If US laws change and make it undesirable for these corporations to maintain their US incorporation, and the multinational shareholders vote to move that incorporation or even the whole company, the only thing that could be remotely considered treasonous, is the inept actions of the lawmakers who are creating the conditions that will eventually lead to US economic collapse, if those conditions are not soon reversed.

That's why it is so important to replace most of them (from both parties), with (hopefully) Republicans of integrity and the courage to stand up for their principles.

 

37 posted on 07/31/2002 11:17:29 PM PDT by Action-America
[ Post Reply | Private Reply | To 28 | View Replies ]

Free Republic
Browse · Search
News/Activism
Topics · Post Article


FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson