Need confirmation of Biden's claim

[MikeWaters]

Originally Posted by exUte

that's WHY they go offshore. It's OUR tax policies. Want to keep businesses here, reduce the taxes!

How guys like you think that the way to stimulate the economy and create jobs is to tax companies and citizens more, is beyond my comprehension.

Oh you think US companies will move all their operations back to the USA from China if we lower the corporate tax to zero?

Please, don't say yes and make a fool of yourself.

[hyrum]

Originally Posted by MikeWaters

Let's raise it to 100%. No one pays.

No one pays??? Do you do any investing? Maybe you don't pay attention to the numbers but the companies I follow report their earnings and taxes paid.

Yes, some of them have found they can lower their net taxes by moving divisions overseas. Labor costs of course are also an issue -- one company I invest in just closed a plant in France to save money -- moved the production to the US. There is a provision for writing off certain R&D and capital expenses (e.g. new manufacturing plants) incurred in the US -- this is a big plus for the US and it needs to be continued.

People in the US need to wake up, its a global economy and being a guy on an assembly line you are going to be competing with workers in Mexico, Europe and Asia. Its no longer the ticket to a comfortable "middle class" income. The gummerment can't change that.

[ChinoCoug]

Originally Posted by exUte

that's WHY they go offshore. It's OUR tax policies. Want to keep businesses here, reduce the taxes!

How guys like you think that the way to stimulate the economy and create jobs is to tax companies and citizens more, is beyond my comprehension.

this is bogus. Our rates aren't that high, certainly not the highest in the world, if we look at how much we actually collect.

http://krugman.blogs.nytimes.com/200...-greek-menace/

[MikeWaters]

Originally Posted by hyrum

No one pays??? Do you do any investing? Maybe you don't pay attention to the numbers but the companies I follow report their earnings and taxes paid.

Yes, some of them have found they can lower their net taxes by moving divisions overseas. Labor costs of course are also an issue -- one company I invest in just closed a plant in France to save money -- moved the production to the US. There is a provision for writing off certain R&D and capital expenses (e.g. new manufacturing plants) incurred in the US -- this is a big plus for the US and it needs to be continued.

People in the US need to wake up, its a global economy and being a guy on an assembly line you are going to be competing with workers in Mexico, Europe and Asia. Its no longer the ticket to a comfortable "middle class" income. The gummerment can't change that.

I'm supposed to be impressed that they moved a plant from FRANCE to the USA?

I'm more impressed when they move the plant from China to the USA.

[hyrum]

Originally Posted by MikeWaters

I'm supposed to be impressed that they moved a plant from FRANCE to the USA?

I'm more impressed when they move the plant from China to the USA.

Didn't say it to impress you. Just an example of where labor costs (France=high) come into play in addition to taxes. This company would probably have manufacturing in China if it could have tight control on quality and get FDA approval for such (its a medical products company).

A lot of the write-offs that I am aware of are past loss carry-forwards, and as the linked articles show you only pay US taxes on profits of overseas subsidiaries when you "re-patriotize" them. If you make that too expensive the companies will just move their corporate headquarters overseas.