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Thread: Tax law may send factories and jobs abroad

  1. #11
    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by Blueneck View Post
    So you are saying only the revenue made by selling things in other countries is taxed at the lower rate?

    If you're going to sell products in other countries, why not move your factories over there also?
    Exactly. You got it. The reason people keep their profits offshore is because those profits were taxed in the countries where the items were sold but then we, the USA will tax them again if they bring the money home. Moving the factories overseas does happen, of course that mean longer shipping times to the USA. It could mean tariffs at some time. Offshoring isn't easy.

  2. #12
    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by OldGaffer View Post
    Nope, if Corp A builds a billion dollars worth of widgets in Asia and sells them to its Corp B in America for a billion, the 900 million profit goes to Corp A in Asia.
    Nope! We tax Corp B for everyone sold. Like I said, you already misspoke badly on this showing your ignorance of the topic and I called you on it. You're welcome.

  3. #13
    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by Southern Dad View Post
    Nope! We tax Corp B for everyone sold. Like I said, you already misspoke badly on this showing your ignorance of the topic and I called you on it. You're welcome.
    Corp B only pays tax if it shows a profit on the widgets, if all the money has already gone to Corp A the overseas subsidiary, it gets taxed at the lower rate.Corp B sells the widgets at the pass through price, showing zero profit.

  4. #14
    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by OldGaffer View Post
    Corp B only pays tax if it shows a profit on the widgets, if all the money has already gone to Corp A the overseas subsidiary, it gets taxed at the lower rate.Corp B sells the widgets at the pass through price, showing zero profit.
    Look just quit trying to spin your way out of the ignorance. Just admit that you misspoke when you posted. We all do it. Doubling down on stupidity by taking far flung examples is really not helping. The fact remains that these overseas profits that American companies, like Apple have parked overseas are there because we tax the hell out of them if they bring it back to this country. Now that the Republicans have gotten tax reform signed into law, some of that money is coming back. It's a good thing. You can try and spin it as a bad thing all day long, but your example is ignorant. If Corp B is losing money then they are ignorant and won't be around long.

  5. #15
    Southern Strategy Liberal OldGaffer's Avatar
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    Quote Originally Posted by Southern Dad View Post
    Look just quit trying to spin your way out of the ignorance. Just admit that you misspoke when you posted. We all do it. Doubling down on stupidity by taking far flung examples is really not helping. The fact remains that these overseas profits that American companies, like Apple have parked overseas are there because we tax the hell out of them if they bring it back to this country. Now that the Republicans have gotten tax reform signed into law, some of that money is coming back. It's a good thing. You can try and spin it as a bad thing all day long, but your example is ignorant. If Corp B is losing money then they are ignorant and won't be around long.
    Quit trying to scam the public, these fucking corporations have been dodging taxes for decades and will use any trick possible.

    Of those that didn't, many weren't making any money anyway: 20 percent of profitable large firms paid no income tax. On average, these large corporations with profits paid 14 percent of their income in federal income taxes between 2008 and 2012. By contrast, the rate on the books is 35 percent.Apr 14, 2016
    https://www.google.com/search?source....0.W6CmlDr2_4o

    And now they have cut that in half, the fuckers will be all paying under 10% on their billions in profits..
    Thanks from Blueneck

  6. #16
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    Quote Originally Posted by Southern Dad View Post
    Then that has nothing to do with the new tax law giving lower tax rates to money stored offshore. Nothing. If it is sold here, then taxes are paid upon it, here in the USA.
    Southern Dad, imported goods economically differ from domestic products prior to their entering USA jurisdiction and are being handled by USA labor. That occurs when the goods are on a USA cargo carrier crewed by USA labor or they're unloaded at a USA port of entry.

    Unlike other nations, Imports entering the USA contribute little or nothing to our federal tax revenues but they net reduce our GDP and numbers of jobs. Annual trade deficits are always net detrimental to their nation's GDP and numbers of jobs.

    Refer to Wikipedia's “Import Certificates”.
    Respectfully, Supposn

  7. #17
    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by OldGaffer View Post
    Quit trying to scam the public, these fucking corporations have been dodging taxes for decades and will use any trick possible.

    And now they have cut that in half, the fuckers will be all paying under 10% on their billions in profits..
    OMG, the sky is falling. Your complaint is that these companies were paying little in taxes under the old system? This thread is about the tax breaks that enable companies, like Apple that have millions parked overseas to bring it back. "Fuckers"? You really hate successful companies and people, don't you?

  8. #18
    Veteran Member Southern Dad's Avatar
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    Quote Originally Posted by Supposn View Post
    Southern Dad, imported goods economically differ from domestic products prior to their entering USA jurisdiction and are being handled by USA labor. That occurs when the goods are on a USA cargo carrier crewed by USA labor or they're unloaded at a USA port of entry.

    Unlike other nations, Imports entering the USA contribute little or nothing to our federal tax revenues but they net reduce our GDP and numbers of jobs. Annual trade deficits are always net detrimental to their nation's GDP and numbers of jobs.

    Refer to Wikipedia's “Import Certificates”.
    Respectfully, Supposn
    Wonderful but irrelevant. If a company is selling something for a profit here in the USA, we tax those profits. BTW, this president wants to charge tariffs on some of those imports.

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    Quote Originally Posted by Southern Dad View Post
    Wonderful but irrelevant. If a company is selling something for a profit here in the USA, we tax those profits. BTW, this president wants to charge tariffs on some of those imports.
    Southern Dad, no; the imports production profits were realized abroad. USA's jurisdiction is limited to transactions that occur in the USA. Taxes upon sales profits are not the same as taxes upon all goods and services that contributed to the production and sales of the products.

    You don't seem to appreciate domestic producers fully contribution to USA's GDP, numbers of jobs and tax revenues prior to their products being shipped to USA's domestic marketplaces.

    Until imports are unloaded at USA ports of entry or onto USA cargo carriers crewed by USA labor, they have contributed nothing to USA's economy. Beyond those points and times, imports economic contributions are no more or less than similar domestic produced products.

    Importers of USA goods in most, (if not almost all) other nations are required to fully contribute to those nation's tax revenues. Their governments do not tolerate imports being granted advantages over their own domestic producing enterprises.

    I'm not a proponent of tariffs or import quotas. Refer to Wikipedia's “Import Certificates”.
    Respectfully, Supposn

  10. #20
    Veteran Member Southern Dad's Avatar
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    All wonderful. Now the new tax law allows American companies to bring their money made overseas back with a lower tax burden. Wheres the bad part?


    Sent from my iPhone X using Tapatalk

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