Posted on 01/26/2016 5:01:32 AM PST by expat_panama
This thread will probably bring out Obama's trolls here to spout their evil unpatriotic capitalist exploiter cr@p, and the fact that there's absolutely no hard evidence to back it up wont deter this old 'corps-sitting-on-offshore-cash' from continuing.
cry me a freakin’ river -I have to pay taxes on my foreign earned and taxed income whether I bring it into the US or not.
Fix THAT, then fix the other ....
If it is just going to be taxed without any tangible gain for the corporations involved. and the foreign counterparts are not subject to this double taxation, then there is no incentive to bring the earnings back to the US. Make it there, invest it there, and this nation is the poorer for this myopic intransigence on the part of the Federal government.
“Grasping” is the adjective that comes to mind.
Good morning everyone! For the year-to-date the S&P's down 8.2% and the NASDAQ's off 9.8%. Yesterday saw a 1.6% drop in each but it ain't a new low --it was in falling (albeit average) volume. Caution: futures traders see more falling today (-1.63%) while they got metals going up +0.66% as gold/silver climb to $1,1113.23/$14.35.
Seems I got the dates wrong yesterday and it's Case-Shiller 20-city Index, FHFA Housing Price, and Consumer Confidence this morning.
I need a proof reader.
All aboard for the Gloom'n'doom Express (hey, that's a bullish sign isn't it?):
“Corporations never sit on cash”....tell that to Apple, sheesh corporatations are sitting on a ton of cash right now.
I could understand if we wanted to apply a differential tax i.e. U.S. is 37%, some country is 25% so to bring it back is a 12% tax. Not saying I support it just I’d understand it.
My income gets treated this way if I work in different counties in the Cleveland area (RITA) and if you work between states depending on your state of residence - some states are 3 days, some are just 1 (I call this the NBA/NFL rule). Why should corporations be different than personal income.
Right, Always seems that when some guy's got a cold he wants everyone else in the world to have to sneeze too.
We usually hear it justified when the left whines that the rich are 'hoarding' their gains in foreign banks.
If the policy didn’t exist in the first place, there would be no need to move corporate operations overseas. I don’t think it is bringing the money back so much as bringing operations back.
The whole premise of repatriating profits rests on the idea that we, whether as individuals or businesses, must constantly feed the government pig with whatever spare change we’ve found. It also suggests that if there weren’t so many “freeloaders” in the system, that government revenues would be satisfied—that all our programs could be funded, all our needs met, and our poor wouldn’t be sleeping in the streets.
We hear this 'tax the rich' idiocy from the mindless left all the time --from the Hillary to Trump-- but what the crowd won't admit is the fact that-
- Corporations already pay income taxes. And import taxes. And matls purchase taxes. And payroll taxes.
- We're really not talking about taxing corporations, our taxes are to be paid by corp owners who pay cap gains taxes, dividend/interest taxes, and their income taxes.
- Tax payments are big-time only when investments pay off; when there are losses there's no gov't reimbursement.
- Most American wage earners are employed by these evil corporations, kill the corp owners and you kill everyone else's jobs.
Our 'grasping left' may call it unpatriotic, but what we're really looking at is folks fleeing for their lives from an insane mob.
Couldn't be bothered to read the article, huh?
Corporations [or individuals] don't "sit" on their cash. They either invest it or bank it. In either case, it's being used by someone.
I am willing to be corrected. US taxes are due but the tax paid to foreign countries is a credit toward US taxes?
Golly, I can figure out a lot of things but taxes ain’t one of ‘em. My bet is if you asked that question to a tax specialist he’d say “it depends...”. 8P
nice selective editing to leave out the source and taxation status. I guess I should have known that there would be zero understanding of the underlying concepts.
John Tammy - what earnings rate do corporations receive from banking it? Two percent from Treasuries. That is not cutting it.
Our tax code is burdensome and many of these companies have to accelerate losses to bring that cash back home. They play games with the code. They structure transactions that reduce their taxable income. They sell assets that are under water because it allows their foreign dollars to come in under the cover of losses.
It is more too much government in the face of business. Too much of the worthless political class parasitically destroying the growth engine of our nation. The big mouths who cannot build anything just take from those who can. The big mouths then enlarge their world, and have to take more and more. It has been soaring since WWII and it does not bode well for the future.
Small government, reduce regulation, reduce our tax system, reduce the dole, completely restrict welfare benefits to immigrants.
actually yeah I did - my point was the sentence isn’t true to what is on the corporation balance sheets - which indicates cash independent of how it’s held.
As a similar poster noted - he has to pay taxes on his income earned overseas independent of where he banks it - why should corporations be different - they are considered “persons” after all.
--ah, too much 'inequality' here and that has to be stomped out right away so we're all equal.
OK, equality is our god and master that we serve and obey no matter what, so how about we cut his overseas taxes to make equal. Ooops, that's no good because the gov't must have everyone's money or because if we cut taxes then we'd have to cut spending (yikes! sorry about all the obscenity). Now I understand why everyone just wants to raise business taxes and leave it at that.
Maybe I was a bit heavy on the sarcasm there --or maybe not...
It isn’t about the inequality it’s about the different rules depending on wether someone is an independent or a corporation.
I’m fine with people earning big bucks and I’m sure as hell ok with lower taxes - provided they don’t use that power to put in place regulations to prevent competition....because THAT isn’t free commerce.
The issue is disparate regulation not that the corps. make money.
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