O-BOMB-A Raised My Taxes..

[AZGrizFan]

Newsflash: most of those types gettin' gov't subsidies are donk voters.

To use my example, E. WA is overwhelmingly conk. Corporate welfare and subsidies is > social welfare. Conks are just as good about sucking at the govmint teat. They talk a better game though.

In Montana those folks vote blue.

[kalm]

To use my example, E. WA is overwhelmingly conk. Corporate welfare and subsidies is > social welfare. Conks are just as good about sucking at the govmint teat. They talk a better game though.

In Montana those folks vote blue.

Yep, Montana's one of my favorite states.

[ALPHAGRIZ1]

Yeah so hole him accountable for making a good life for himself and punish that fu*ker!!!!!



You people make me sick and your also the reason I dont exactly play fair when it comes to April 15th. As far as the IRS is concerned I am just like you "poor" guys.

So that is why you had me route the TV money through the Caymans...

You get me........................






and




What TV money?

[Baldy]

yeah - i've been to Phoenix - you're rich if you make that kind of bank in PHX

(LA? Manhattan? Chicago Loop? San Francisco? - there you're just doing pretty damn well)

Oh, well if you say so then I'll just sit down, shut the fuck up and quietly write my check to the government for an additional $28,000 in taxes.

...and that's $28,000 more than Government Electric paid in taxes.

I think you're getting screwed, AZ.

[AZGrizFan]

Oh, well if you say so then I'll just sit down, shut the fuck up and quietly write my check to the government for an additional $28,000 in taxes.

...and that's $28,000 more than Government Electric paid in taxes.

I think you're getting screwed, AZ.

...without the courtesy of a reacharound.

[Ivytalk]

...and that's $28,000 more than Government Electric paid in taxes.

I think you're getting screwed, AZ.

...without the courtesy of a reacharound.

Typical Dartmouth guy.

[kalm]

Oh, well if you say so then I'll just sit down, shut the fuck up and quietly write my check to the government for an additional $28,000 in taxes.

...and that's $28,000 more than Government Electric paid in taxes.

I think you're getting screwed, AZ.

Or BofA, or Exxon...

Wait a second, I thought corporate taxes are too high and the people who work for corporatons are already getting taxed as it is. Obviously corporations don't use the same amount of services that I do.

[Baldy]

Or BofA, or Exxon...

Wait a second, I thought corporate taxes are too high and the people who work for corporatons are already getting taxed as it is. Obviously corporations don't use the same amount of services that I do.

And your solution is to raise the already highest in the developed world corporate tax rate

[kalm]

Or BofA, or Exxon...

Wait a second, I thought corporate taxes are too high and the people who work for corporatons are already getting taxed as it is. Obviously corporations don't use the same amount of services that I do.

And your solution is to raise the already highest in the developed world corporate tax rate

Not even close to the highest effectie rate is it? Hence companies that enjoy $14 Billion in profits get a refund. I'd take a look at the fair tax, VAT tax, transaction tax on financial services...the point is that our current tax system socializes the externalities of doing business and socializes the risk. You're not a socialist are you Baldy?

[Baldy]

And your solution is to raise the already highest in the developed world corporate tax rate

Not even close to the highest effectie rate is it? Hence companies that enjoy $14 Billion in profits get a refund. I'd take a look at the fair tax, VAT tax, transaction tax on financial services...the point is that our current tax system socializes the externalities of doing business and socializes the risk. You're not a socialist are you Baldy?

When you consider the compliance costs, it is the highest in the world, by far. Otherwise, there wouldn't be 30,000 US companies, and counting, who have moved their operations and their money overseas.

[dbackjon]

Not even close to the highest effectie rate is it? Hence companies that enjoy $14 Billion in profits get a refund. I'd take a look at the fair tax, VAT tax, transaction tax on financial services...the point is that our current tax system socializes the externalities of doing business and socializes the risk. You're not a socialist are you Baldy?

When you consider the compliance costs, it is the highest in the world, by far. Otherwise, there wouldn't be 30,000 US companies, and counting, who have moved their operations and their money overseas.

They are nominally moving HQ's to zero compliance tax havens like the Cayman's, Bahamas, etc. Nothing the US can do to compete with them.

The US shoulders the needed regulatory costs to ensure that more Enrons don't happen, while these companies and countries go scott-free.

[Baldy]

When you consider the compliance costs, it is the highest in the world, by far. Otherwise, there wouldn't be 30,000 US companies, and counting, who have moved their operations and their money overseas.

They are nominally moving HQ's to zero compliance tax havens like the Cayman's, Bahamas, etc. Nothing the US can do to compete with them.

The US shoulders the needed regulatory costs to ensure that more Enrons don't happen, while these companies and countries go scott-free.

Enron?

Try to stay on topic jon. We're talking about the wholesale shift of US companies moving their operations overseas because of our antiquated business killing tax structure. The Caymans? Give me a fucking break. This about companies from Cisco to Pfizer moving operations to Ireland and other business friendly countries creating 100's of thousands of jobs overseas that could easily be in the US if only we had a business friendly tax structure.

[Appaholic]

They are nominally moving HQ's to zero compliance tax havens like the Cayman's, Bahamas, etc. Nothing the US can do to compete with them.

The US shoulders the needed regulatory costs to ensure that more Enrons don't happen, while these companies and countries go scott-free.

Enron?

Try to stay on topic jon. We're talking about the wholesale shift of US companies moving their operations overseas because of our antiquated business killing tax structure. The Caymans? Give me a fucking break. This about companies from Cisco to Pfizer moving operations to Ireland and other business friendly countries creating 100's of thousands of jobs overseas that could easily be in the US if only we had a business friendly tax structure.

Somebody watched 60min after the NCAA's....

He's right Jon. Ireland has 12.5% rate vs US 35%....35% of $0 = $0.....

[Baldy]

Enron?

Try to stay on topic jon. We're talking about the wholesale shift of US companies moving their operations overseas because of our antiquated business killing tax structure. The Caymans? Give me a fucking break. This about companies from Cisco to Pfizer moving operations to Ireland and other business friendly countries creating 100's of thousands of jobs overseas that could easily be in the US if only we had a business friendly tax structure.

Somebody watched 60min after the NCAA's....

He's right Jon. Ireland has 12.5% rate vs US 35%....35% of $0 = $0.....

True, and it's not very often 60 Minutes gets it right, but this is a subject I have discussed on numerous occasions before.

[BDKJMU]

When you consider the compliance costs, it is the highest in the world, by far. Otherwise, there wouldn't be 30,000 US companies, and counting, who have moved their operations and their money overseas.

They are nominally moving HQ's to zero compliance tax havens like the Cayman's, Bahamas, etc. Nothing the US can do to compete with them.

The US shoulders the needed regulatory costs to ensure that more Enrons don't happen, while these companies and countries go scott-free.

According to an article I read a few years back the US effective rate is actually an avg of over 39%- 35% fed plus state.
According to 60 Minutes (certainly no conservative leaning news source) this past Sun, they've moved them the Caymans & Bahamas due to threatened crackdowns and to places Switzerland (15-16% corporate rate) and Ireland (12.5% corporate rate). The US can certainly compete with that.

http://www.cbsnews.com/stories/2011/03/ ... ontentBody" onclick="window.open(this.href);return false;

[kalm]

They are nominally moving HQ's to zero compliance tax havens like the Cayman's, Bahamas, etc. Nothing the US can do to compete with them.

The US shoulders the needed regulatory costs to ensure that more Enrons don't happen, while these companies and countries go scott-free.

According to an article I read a few years back the US effective rate is actually an avg of over 39%- 35% fed plus state.
According to 60 Minutes (certainly no conservative leaning news source) this past Sun, they've moved them the Caymans & Bahamas due to threatened crackdowns and to places Switzerland (15-16% corporate rate) and Ireland (16%corporate rate). The US can certainly compete with that.

http://www.cbsnews.com/stories/2011/03/ ... ontentBody" onclick="window.open(this.href);return false;

And yet Enron, Exxon, BofA, and GE managed to pay 0% on billions in profits. I'm sure they're the only ones.

(But good point on the compliance costs Baldy)

I say we invade Ireland, the Caymans, and Switzerland for stealing our tax revenues.

[Wedgebuster]

According to an article I read a few years back the US effective rate is actually an avg of over 39%- 35% fed plus state.
According to 60 Minutes (certainly no conservative leaning news source) this past Sun, they've moved them the Caymans & Bahamas due to threatened crackdowns and to places Switzerland (15-16% corporate rate) and Ireland (16%corporate rate). The US can certainly compete with that.

http://www.cbsnews.com/stories/2011/03/ ... ontentBody" onclick="window.open(this.href);return false;

And yet Enron, Exxon, BofA, and GE managed to pay 0% on billions in profits. I'm sure they're the only ones.

(But good point on the compliance costs Baldy)

I say we invade Ireland, the Caymans, and Switzerland for stealing our tax revenues.

Better we just bomb 'em. Regime change at this point is out of the question.

[kalm]

And yet Enron, Exxon, BofA, and GE managed to pay 0% on billions in profits. I'm sure they're the only ones.

(But good point on the compliance costs Baldy)

I say we invade Ireland, the Caymans, and Switzerland for stealing our tax revenues.

Better we just bomb 'em. Regime change at this point is out of the question.

Good point. We could get the English, the French, and the Mexicans to bomb them.

[Appaholic]

According to an article I read a few years back the US effective rate is actually an avg of over 39%- 35% fed plus state.
According to 60 Minutes (certainly no conservative leaning news source) this past Sun, they've moved them the Caymans & Bahamas due to threatened crackdowns and to places Switzerland (15-16% corporate rate) and Ireland (16%corporate rate). The US can certainly compete with that.

http://www.cbsnews.com/stories/2011/03/ ... ontentBody" onclick="window.open(this.href);return false;

And yet Enron, Exxon, BofA, and GE managed to pay 0% on billions in profits. I'm sure they're the only ones.

(But good point on the compliance costs Baldy)

I say we invade Ireland, the Caymans, and Switzerland for stealing our tax revenues.

We better as a precaution against possibility of future mass graves.....

[Wedgebuster]

And yet Enron, Exxon, BofA, and GE managed to pay 0% on billions in profits. I'm sure they're the only ones.

(But good point on the compliance costs Baldy)

I say we invade Ireland, the Caymans, and Switzerland for stealing our tax revenues.

We better as a precaution against possibility of future mass graves.....

Well, the first bombing is the hardest, after that, it's Katy bar the bomb bay doors.

I gotta feeling this is the start of something great!!

[Baldy]

According to an article I read a few years back the US effective rate is actually an avg of over 39%- 35% fed plus state.
According to 60 Minutes (certainly no conservative leaning news source) this past Sun, they've moved them the Caymans & Bahamas due to threatened crackdowns and to places Switzerland (15-16% corporate rate) and Ireland (16%corporate rate). The US can certainly compete with that.

http://www.cbsnews.com/stories/2011/03/ ... ontentBody" onclick="window.open(this.href);return false;

And yet Enron, Exxon, BofA, and GE managed to pay 0% on billions in profits. I'm sure they're the only ones.

(But good point on the compliance costs Baldy)

I say we invade Ireland, the Caymans, and Switzerland for stealing our tax revenues.

Hold on to your horses there you rush to war baby killing Obama warmongering supporter.

Maybe we should first try beating Ireland, the Swiss, et al. at their own game?

[Appaholic]

And yet Enron, Exxon, BofA, and GE managed to pay 0% on billions in profits. I'm sure they're the only ones.

(But good point on the compliance costs Baldy)

I say we invade Ireland, the Caymans, and Switzerland for stealing our tax revenues.

Hold on to your horses there you rush to war baby killing Obama warmongering supporter.

Maybe we should first try beating Ireland, the Swiss, et al. at their own game?

Cmon Baldy, the Swiss make excellent clocks and there's no way we can outdrink the Irish & most of us have moved out of our parent's flat....

[houndawg]

And yet Enron, Exxon, BofA, and GE managed to pay 0% on billions in profits. I'm sure they're the only ones.

(But good point on the compliance costs Baldy)

I say we invade Ireland, the Caymans, and Switzerland for stealing our tax revenues.

We better as a precaution against possibility of future mass graves.....

Our first warning could come in the form of a mushroom cloud.

[BDKJMU]

Enron?

Try to stay on topic jon. We're talking about the wholesale shift of US companies moving their operations overseas because of our antiquated business killing tax structure. The Caymans? Give me a **** break. This about companies from Cisco to Pfizer moving operations to Ireland and other business friendly countries creating 100's of thousands of jobs overseas that could easily be in the US if only we had a business friendly tax structure.

Somebody watched 60min after the NCAA's....

He's right Jon. Ireland has 12.5% rate vs US 35%....35% of $0 = $0.....

In my previous post I said Switzerland's top rate was 15-16% according to the 60 Min piece and Ireland was 15% percent. I got the 2 mixed up. You are correct- Ireland according to the piece is 12.5%.

Actually according to the piece the US doesn't have the highest rate in the world. That is Japan, which is what I remember reading prior. But that is about to change as this April Japan is slated to lower their corporate rate, which will make the US the highest in the world.

60 Min claimed a # of CEOs were unwilling to go on record. One who was, and who was very Frank, was the CEO of Cisco:

"......One CEO who would talk to us was Chambers. Cisco is the giant high tech company headquartered in San Jose, Calif. He says our tax rate is insane. It's forcing companies into these maneuvers, especially when many other industrialized countries including Canada are busy lowering their tax rates in order to lure our companies and our jobs away.

"Every other government in the world has realized that the U.S. has it wrong. They're saying, 'I'm going to have lower taxes, period.' That's what you see all across Western Europe, that's what you see in Asia in the developed countries," Chambers said.

When asked if he's judged as a CEO on issues like taxes, Chambers said, "Absolutely."

He's been expanding Cisco overseas because of growing demand abroad, but also to lower the company's taxes: their average rate over the last three years was just 20 percent.

Economist Martin Sullivan says it's standard operating procedure for companies like Cisco. "U.S. multinationals are shifting their research facilities, shifting their manufacturing facilities, and shifting some regional headquarters into Switzerland and into Ireland. And those are massive numbers of jobs," he told Stahl.

Sullivan says Ireland taxes corporations at just a third of the U.S. rate, so no wonder the outskirts of Dublin look like Silicon Valley. Many well-known companies are all but obliged to go abroad.

"Well, if you have a 35 percent rate in the United States and, for example, a 12.5 percent rate in Ireland, there's a incentive to move your factory to Ireland," he explained.

"Six hundred American companies are in Ireland and they employ 100,000 people," Stahl pointed out. "Those are jobs that aren't here. And they moved to Ireland because of taxes."

"The U.S. Treasury in effect is subsidizing investment in Ireland," Sullivan said.

"Why isn't everybody in Ireland if it's that great?" Stahl asked.

"Almost everybody is in Ireland," Sullivan said. "All the pharmaceutical companies, all the high tech companies. You're stupid if you're not in Ireland," he replied.

"We notice that you have an awful lotta companies in Ireland," Stahl told Cisco's John Chambers.

"Yes we do," he acknowledged.

By Stahl's count, Cisco has eight companies in Ireland.

"We do what makes sense to the shareholders," Chambers said. "We go where there are incentives in countries that say, 'We want you here, we're going to give you tax advantages, and we want you to add jobs here, etc.' We can no longer in America say, 'This is how we do it, therefore you must do it.' We've gotta change, or we're going to be left behind."...."

[BDKJMU]

I know the NYT claims that GE didn't pay income taxes. GE is claiming that isn't true.

GE is claiming they payed 2.7 billion in income taxes. Maybe that wasn't all in the US (an example of companies moving overseas):

"Claim: GE paid no taxes in 2010.
Fact: GE did pay almost $2.7 billion in cash income taxes in 2010 on a consolidated basis (almost 19% of pretax income from continuing operations) globally, including significant U.S. federal income tax payments. GE also paid in excess of $1 billion in payroll, state and local sales and use and property taxes.

Claim: GE “dodges” tax obligations generally.
Fact: Over the past 10 years, GE has paid almost $23 billion of corporate income taxes to governments around the world, making it one of the highest payers of corporate income taxes. Over the past five years alone, GE has paid over $14 billion of income taxes.

Claim: GE used “tax avoidance strategies” to reduce its tax rate the past few years.
Fact: GE’s tax rate has been lower in recent years due to financial crisis losses at GE Capital. From 2008-2010, GE Capital suffered nearly $32 billion in losses as a result of the financial crisis. That’s not a “tax avoidance strategy.” Absent such unusual losses, GE’s overall effective tax rate would have been 15 percent over the past several years, which is comparable to the average for other multinational corporations. Our 2011 tax rate is slated to return to more normal levels with GE Capital’s recovery.

Claim: GE received a $3.2 billion refund or rebate on its 2010 taxes (alternately described as GE “made” $3.2 billion or U.S. taxpayers “paid” GE $3.2 billion).
Fact: This is not true. GE received no rebate or refund or payment from the government on its 2010 taxes..."
http://www.gereports.com/more-on-ge-and-taxes/" onclick="window.open(this.href);return false;