Posted on 04/12/2015 9:16:07 AM PDT by Wolfie
Nope. . . the only taxation scheme that works is one where the tax payers are outside of the taxing agent's sphere of spending. In other words a colonial hegemony where all taxation occurs beyond the spending of the revenues. The conquered territories or colonies are raided for raw materials or wealth to benefit the colonizing power's home nation. It works excellently for awhile. . . then the colonials get pissed.
Refunds. . . because they made Quarterly estimated tax payments. . . and then their taxes due did not equal the amount they estimated, just like an individual who had too much withheld from his paycheck. Alternately, Federal Tax Credits for solar and renewable energy Tax Credits while having loss carryovers from previous years.
You seem to really like the socialist agenda. What are you doing on a conservative web site?
Thise reasons have nothing to do with it. The question has to do with moving their seat of financial operations to a lower taxation jurisdiction, not where their products are made.
What's missing from the article is the amount of campaign and super pac contributions these corporations paid out and to whom.
It's true, they did not dodge anything and are in full compliance with the tax laws they paid to have implemented. At the same time putting their small competitors at a tax disadvantage is just icing on the cake.
It all a simple case of extortion where by congress shakes down corporations for donations through the tax code. But the corporations have figured the game out and how to take advantage of it. Now they no longer pay taxes but receive tax credits, grants for product development, government contracts and the rest of it.
Its pay me this or pay the government more on tax day and owning congress is infinitely cheaper and paying the IRS.
Corporate Income Tax is the issue.
The direct effect of CIT, since it is a tax on corporate profit, is a reduction in the amount available for distribution to shareholders.
While it is a good thing to return profits to shareholders, from the perspective of taxpaying Americans, what exists in America today (and many other countries) is that the Federal Income Tax burden falls on people who work for a living.
Since there is a Federal corporate income tax, the purpose should be that all corporations pay it. Well, if we wanted to be fair about it. I mean why should some corporations have to pay tax on profits and others do not ? Ha ! Let’s see why...
If you have your own corporation you soon realize that if you have profits you wind up paying corporate income tax on your corporation’s profits. Many small privately-held corporations can not make use of the methods that some large corporations use to reduce or indefinitely defer their calculated corporate income tax due.
Thus what we have is taxpayers getting hit with Federal Income Tax, be it personal or corporate. And America’s elite corporations have legal loopholes which they use to avoid paying corporate income tax. Do they use their low to no corporate income tax to reduce the prices of their goods and services ? Absolutely not; a corporation has never publicly said they are lowering the price of their goods by the amount they saved in corporate income tax or any portion of that amount. Instead, the reduced tax on profits simply means that more profits are returned to shareholders.
From new world order’s point of view, they’re actually not concerned with returning that extra money to shareholders; it’s just a small side benefit they can use to romance investors with.
New world order’s real goal is to tax the cr@p out of the “little people” and not pay any tax on new world order’s earnings, which certainly includes publicly-held stocks. Other “little people” shareholders who benefit simply become useful idiots who support the idea of large, publicly-held corporations not paying any taxes on their corporate profits.
Loophole elimination remains, of course, impossible, since double-talking politicians will never remove them because they all know that their true masters are new world order, and new world order does not want the loopholes removed. To new world order, and thus to politicians, what “the people” want is something to be laughed at in derision; all they want from “the people” is tax revenue, not their clueless “voices”. After all, new world order has its minions all throughout government deciding how tax dollars are spent - thus to new world order - tax dollars are THEIR money, to do with as they please. This is why new world order thinks it nonsensical for them to pay taxes; taxes are for the “little people”.
If the companies did something illegal to avoid taxes its called evasion, and is illegal.
If they chose legal means its called avoidance and Bernie Sanders is a demagoguing idiot.
I said BUSINESS TAXES, not your income taxes from your work. . . but truthfully, those are actually paid by the company's customer's as well because you would not have an income except from the sales of the products or services your employer provides. Your salary or wages are an expense for your employer. You just pay it for them.
If you take advantage of enough tax credits, you may get your taxes down to no taxes. My youngest niece works part time . . . and is a student. She paid tax withholding of only $170, but got a "tax" refund of $1685. . . because of our idiotic tax code which includes education credits, low income credits, and Earned income Credit, etc.
How about somebody blast Sanders for being a Commie thug?
I don't think you know what you are talking about. ALL businesses are merely acting as a tax collector for the government, extracting funds from their customers and sending them to the government. The business can either pay its employees more and let the government tax them directly or charge their customers a lot less, and because all prices would be a lot lower the cost of living would be a lot lower, they'd be able to pay their employees commensurately less but the standard of living would be higher. . . IF THE BUSINESSES WERE NOT ACTING AS TAX COLLECTORS FOR THE GOVERNMENT.
The costs added by taxation at every level of every product are a huge burden on our economy. . . add in the costs of regulation and our economy is really straining as a whole but the economies of the family units are breaking under the stress. Because of this, it now takes more than two wage earners to maintain a household where one wage earner could once do it and save for two children's college educations and a retirement. Not possible today.
For a good thumbnail, you need to read The Incredible Bread Machine: A Study of Capitalism, Freedom, & the State, and maybe you might start to get a glimmer of understanding how it works.
No. Wearing both my Economist and ex-CEO hats. You're only partially correct. A Corporation or any business for that matter, pays its employees out of operating revenues, from which it should be paying costs of inventory and sales or services as well and other expenses including payroll taxes to keep the business in operation. IF something is left over after all those expenses are subtracted from revenues, then there will be a profit that may be distributed to owners or investors. . . after Federal, multiple state, and local income taxes are paid.
Wanna bring ‘em home? Wanna make the taxes impossible to dodge?
Implement the Fair Tax.
That would turn the US in to a Tax Haven.
That's not part of my argument or my thesis. . . so why should I include it. There are legitimate purposes for government enumerated in the Constitution. Those are the only legitimate expenditures for the Federal government, all else is usurpation of funds from the Public Purse.
I am of the opinion that all taxation should be local, then the next level up should be funded by a tithe on the local government and the Federal government by a tithe on the States. That should handle all necessary levels of funding for all legitimate government needs. Potholes would be repaired in a timely fashion, State governments would have enough to do the needs of state infrastructure, and the limited Federal government would have enough to cover what is enumerated in the Constitution.
That's false. If a multi-national earns the money in the USA, they are required to pay taxes on the amount they earned in the USA.
The problem is that the Us Government wants any multi-national who has its headquarters in the US to pay income taxes at the US corporate tax rate on ALL of the income they earn world wide, even when it has ALREADY paid income tax in the jurisdiction where it was earned. This taxation policy puts American companies at a huge competitive disadvantage in the world market. . . and makes it impossible to bring home funds they have already earned AND paid income taxes on overseas, because when they re-patriate their profits, the US government wants to tax them AGAIN at 35%!
The IRS is applying the same rule to individuals living abroad also. If you earn money abroad as an American citizen, you will pay income taxes to the country where you live and to the US. . . and the IRS has asserted the right to all your financial records from any bank you do business with. This has resulted in foreign banks refusing accounts with Americans and American businesses. The banks refuse to be put in the position of being hit with IRS demands for information backed by international treaties.
There are only TWO countries in the world that tax their businesses in that insane backward way. . . a tiny Island country that by consequence has no international businesses and the Liberal Democrat controlled USA. All others tax their businesses only in the countries and jurisdictions where the income was earned. They disallow double taxation and their corporate income tax rates are not insanely high.
AMEN.....and they did the same to Romney....hows that working out dumb asses ?????
I completely disagree with your analysis.
It is not and I am correct.
Instead of balancing the budget on the backs of the elderly, the children, the sick and the poor, as the Republicans in Congress have proposed, we need a tax system that demands that large, profitable corporations and the wealthy start paying their fair share in taxes. I look forward to working with my colleagues in the coming months to make certain that happens."
Fine. You live in fantasyland with boogiemen who own Congress. I'll live in the real world where Multinationals want Congress to change the tax law to allow repatriation of many into the US and have been lobbying Congress for years to change our archaic laws. You can look up these facts.
If Congress were owned by the Multinationals, it would already have happened and the US would not have a unitary tax on US multinationals. You claim that the US Multinational corporations own Congress who unfairly taxes them at 35% on their US income, the highest corporate tax rate in the world, and wants to tax them on their worldwide income to boot. . . and refuses to change the laws to suit the multinationals who own them. . . RIGHT, SURE. Do you not see the absurdity of your position?
Repatriation of many = repatriation of money
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