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08/24/2012 03:31:03 PM · #301 |
Originally posted by DrAchoo:
An inheritance tax is a good method of declumping the money and making sure it recirculates through the economy. |
This is the craziest thing I have ever heard you say.
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08/24/2012 03:37:40 PM · #302 |
Originally posted by GeneralE:
Romney has vowed to abolish the estate tax entirely, along with all taxes on US corporations earned in other countries (c.f. Adelson and his casinos in Macao(?)) ... |
Can you imagine how eliminating taxes on income earned overseas will accelerate the off-shoring of jobs? Is it really in our national interest to give American companies that sort of motivation? |
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08/24/2012 03:58:08 PM · #303 |
Originally posted by David Ey:
Originally posted by DrAchoo:
An inheritance tax is a good method of declumping the money and making sure it recirculates through the economy. |
This is the craziest thing I have ever heard you say. |
Being in the middle, I tend to seem crazy to everybody at some point... :) |
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08/24/2012 04:02:43 PM · #304 |
Originally posted by DrAchoo:
I don't think we know they discourage investing, but I don't think we know they don't either. |
Yes, we do know that. Unless you're referring to morons, treating returns on stocks as regular income will not discourage investment when the alternative (savings accounts, CDs, etc.) barely generate any appreciable interest.
Originally posted by DrAchoo:
(I know the world is more black-and-white to you.) |
Wow. |
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08/24/2012 04:04:07 PM · #305 |
Originally posted by BrennanOB:
Originally posted by GeneralE:
Romney has vowed to abolish the estate tax entirely, along with all taxes on US corporations earned in other countries (c.f. Adelson and his casinos in Macao(?)) ... |
Can you imagine how eliminating taxes on income earned overseas will accelerate the off-shoring of jobs? Is it really in our national interest to give American companies that sort of motivation? |
//www.youtube.com/watch?v=19dg7L5Zdsg
Basically, the territorial tax system should help bring moneys earned offshore back into the US for companies to invest here, instead of punishing companies for making profits over seas.
Shipping jobs overseas does not require bringing money back into the borders. The motivation lies in allowing companies to bring money back into the US without paying penalties. The way it currently is set up, it's motivating companies to invest overseas with their profits earned overseas. |
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08/24/2012 04:04:12 PM · #306 |
Originally posted by DrAchoo:
Being in the middle [of left field], I tend to seem crazy to everybody at some point... :) |
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08/24/2012 04:06:14 PM · #307 |
Originally posted by DrAchoo:
Originally posted by David Ey:
Originally posted by DrAchoo:
An inheritance tax is a good method of declumping the money and making sure it recirculates through the economy. |
This is the craziest thing I have ever heard you say. |
Being in the middle, I tend to seem crazy to everybody at some point... :) |
Middle as in the middle of nowhere? :P
ETA: Too slow. Although I like mine better. :P
Message edited by author 2012-08-24 16:07:22. |
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08/24/2012 04:07:46 PM · #308 |
Originally posted by BrennanOB:
Can you imagine how eliminating taxes on income earned overseas will accelerate the off-shoring of jobs? Is it really in our national interest to give American companies that sort of motivation? |
Not even necessary. For example, an international trading company making millions can legally claim to be based in Switzerland and avoid U.S. taxes by having a Swiss office with one employee even if all the other jobs are right here. |
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08/24/2012 04:10:34 PM · #309 |
Originally posted by scalvert:
Originally posted by BrennanOB:
Can you imagine how eliminating taxes on income earned overseas will accelerate the off-shoring of jobs? Is it really in our national interest to give American companies that sort of motivation? |
Not even necessary. For example, an international trading company making millions can legally claim to be based in Switzerland and avoid U.S. taxes by having a Swiss office with one employee even if all the other jobs are right here. |
The same thing happens domestically -- Apple avoids millions in taxes by having an office with ten employees in Reno, Nevada, despite having their huge "campus"/headquarters in Cupertino, California. |
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08/24/2012 04:14:30 PM · #310 |
Originally posted by scalvert:
Originally posted by BrennanOB:
Can you imagine how eliminating taxes on income earned overseas will accelerate the off-shoring of jobs? Is it really in our national interest to give American companies that sort of motivation? |
Not even necessary. For example, an international trading company making millions can legally claim to be based in Switzerland and avoid U.S. taxes by having a Swiss office with one employee even if all the other jobs are right here. |
You're arguing for lower corporate tax rates, right? |
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08/24/2012 04:16:16 PM · #311 |
Originally posted by GeneralE:
Originally posted by scalvert:
Originally posted by BrennanOB:
Can you imagine how eliminating taxes on income earned overseas will accelerate the off-shoring of jobs? Is it really in our national interest to give American companies that sort of motivation? |
Not even necessary. For example, an international trading company making millions can legally claim to be based in Switzerland and avoid U.S. taxes by having a Swiss office with one employee even if all the other jobs are right here. |
The same thing happens domestically -- Apple avoids millions in taxes by having an office with ten employees in Reno, Nevada, despite having their huge "campus"/headquarters in Cupertino, California. |
Well on the bright side, at least one of those employees is safe from layoffs... |
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08/24/2012 04:16:43 PM · #312 |
| There are several ways to do what you guys are talking about, the Double Irish is one of the more popular ones. |
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08/24/2012 04:21:41 PM · #313 |
Originally posted by JamesDowning:
You're arguing for lower corporate tax rates, right? |
No, I'm not. |
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08/24/2012 04:23:17 PM · #314 |
Originally posted by scalvert:
Originally posted by JamesDowning:
You're arguing for lower corporate tax rates, right? |
No, I'm not. |
Sure seemed like it... care to clarify? |
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08/24/2012 04:27:45 PM · #315 |
Originally posted by JamesDowning:
Sure seemed like it... care to clarify? |
There's nothing to clarify. I've never made any such suggestion. |
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08/24/2012 04:30:04 PM · #316 |
Originally posted by scalvert:
Originally posted by JamesDowning:
Sure seemed like it... care to clarify? |
There's nothing to clarify. I've never made any such suggestion. |
Your implication was that there was a problem with our tax code, and that savvy companies were not locating themselves in the US in order to escape the high corporate tax rate.
That was the suggestion I saw. |
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08/24/2012 04:38:43 PM · #317 |
| Companies are not locating themselves in the US in order to escape corporate taxes regardless of the rate. As long as those legal loopholes exist, they'll do it whether the rate is 35% or 5%. |
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08/24/2012 04:56:50 PM · #318 |
Originally posted by yanko:
Originally posted by DrAchoo:
Originally posted by David Ey:
Originally posted by DrAchoo:
An inheritance tax is a good method of declumping the money and making sure it recirculates through the economy. |
This is the craziest thing I have ever heard you say. |
Being in the middle, I tend to seem crazy to everybody at some point... :) |
Middle as in the middle of nowhere? :P
ETA: Too slow. Although I like mine better. :P |
I got the analogy from Planet Money on NPR. Crazy bastards!
I seem crazy here because here publications like Jezebel are viewed as mainstream... ;)
Message edited by author 2012-08-24 16:57:43. |
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08/24/2012 05:25:23 PM · #319 |
Originally posted by DrAchoo:
The progressiveness of the system works better than we assume, but, as you point out, there are some obvious exceptions and the Romneys and Buffets of the world are the example. They pay less as a % than people who are well off but not dynastically rich. I'm not above fixing this at all. |
Here's an interesting chart from NPR. Source is the Tax Policy Center. Taxes paid combines income, payroll, estate and corporate taxes. It assumes that corporate taxes come out of profits that would otherwise have gone to shareholders.
Looks properly progressive to me. You can see it in table form (with more details) here.
Message edited by author 2012-08-24 17:32:07. |
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08/24/2012 05:47:29 PM · #320 |
| Jason, your career in politics is over before it begins if you insist on defending your rich, fat-cat cronies. ...oh wait, you're a Democrat, aren't you? Nevermind, different standard. |
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08/24/2012 05:54:46 PM · #321 |
People are just jealous that it seems to be I'll find some happiness in whomever is elected. 77% Obama, 69% Romney. I can't lose! Y'all have much more riding on it and more than a few will need to search out a suitable bridge to jump off when the unthinkable happens.
My prediction (which I've said before): If the next unemployment figure remains the same, Romney will be elected. I don't care if Obama has a slight lead currently. I'll be voting Obama, but I'm enough of a realist to see the writing on the wall and apparently I'll find some shreds of solace when we all hail Mitt in January. |
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08/24/2012 06:06:21 PM · #322 |
Originally posted by DrAchoo:
People are just jealous that it seems to be I'll find some happiness in whomever is elected. 77% Obama, 69% Romney. I can't lose! |
Well duh. If one of them were an atheist lesbian then those numbers would spike. ;) |
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08/24/2012 06:08:55 PM · #323 |
Originally posted by yanko:
Originally posted by DrAchoo:
People are just jealous that it seems to be I'll find some happiness in whomever is elected. 77% Obama, 69% Romney. I can't lose! |
Well duh. If one of them were an atheist lesbian then those numbers would spike. ;) |
I totally read about that in Jezebel! :D |
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08/24/2012 06:11:08 PM · #324 |
Originally posted by DrAchoo:
Originally posted by yanko:
Originally posted by DrAchoo:
People are just jealous that it seems to be I'll find some happiness in whomever is elected. 77% Obama, 69% Romney. I can't lose! |
Well duh. If one of them were an atheist lesbian then those numbers would spike. ;) |
I totally read about that in Jezebel! :D |
You've mentioned that twice. What the heck is Jezebel?
ETA: Ok just googled it. The things you middle people read. Sheesh.
Message edited by author 2012-08-24 18:17:19. |
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08/24/2012 07:11:53 PM · #325 |
Originally posted by yanko:
Originally posted by DrAchoo:
Originally posted by yanko:
Originally posted by DrAchoo:
People are just jealous that it seems to be I'll find some happiness in whomever is elected. 77% Obama, 69% Romney. I can't lose! |
Well duh. If one of them were an atheist lesbian then those numbers would spike. ;) |
I totally read about that in Jezebel! :D |
You've mentioned that twice. What the heck is Jezebel?
ETA: Ok just googled it. The things you middle people read. Sheesh. |
Middle people? What is that?
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