Page 1 of 6 123 ... LastLast
Results 1 to 10 of 56
Thanks Tree14Thanks

Thread: Tax law may send factories and jobs abroad

  1. #1
    New Member
    Joined
    Jul 2009
    Posts
    451
    Thanks
    45

    Tax law may send factories and jobs abroad

    • Annual trade deficits are always detrimental to their nation's GDPs and thus, to their numbers of jobs.
      The trade policy described with Wikipedia's “Import Certificates” reduces, (if not eliminates) its nation's trade deficit of goods. If the policy were to be adopted by the USA, it would increase our GDP and numbers of jobs more than otherwise. It's conceivably as close as possible to be “bullet proof”; (i.e. immune from mischief).

      Respectfully, Supposn


      Excerpted from:
      https://www.nytimes.com/2018/01/08/b...e=sectionfront

      Tax law may send factories and jobs abroad

      Under the new law, income made by American companies’ overseas subsidiaries will face United States taxes that are half the rate applied to their domestic income, 10.5 percent compared with the new top corporate rate of 21 percent.
    Thanks from Amelia

  2. #2
    told you so Amelia's Avatar
    Joined
    Jun 2014
    Posts
    44,843
    Thanks
    26577

    From
    Wisconsin
    well, isn't that special

  3. #3
    told you so Amelia's Avatar
    Joined
    Jun 2014
    Posts
    44,843
    Thanks
    26577

    From
    Wisconsin
    To prevent an exodus of businesses from the United States, the law establishes a minimum tax rate of 10.5 percent every year.

    Companies will get credit for up to 80 percent of the taxes they pay to foreign governments. But if the total still comes to less than 10.5 percent of the income they earn abroad, they have to make up the difference with a check to the American government.

    So while companies will now have to pay some tax in most cases, wherever they operate, they will pay much less on what they make abroad than at home.
    ..


    21% tax plus high-ish American wages to operate at home.

    Or 10.5% tax plus low foreign wages to take the money Congress just gave them and operate abroad.


    Decisions, decisions.
    Thanks from splansing

  4. #4
    Southern Strategy Liberal OldGaffer's Avatar
    Joined
    Jul 2013
    Posts
    37,908
    Thanks
    39831

    From
    Nashville, TN
    Quote Originally Posted by Amelia View Post
    ..


    21% tax plus high-ish American wages to operate at home.

    Or 10.5% tax plus low foreign wages to take the money Congress just gave them and operate abroad.


    Decisions, decisions.
    But always remember, corporations have Americas best interests at heart and would never, ever, engage in any corporate malfeasance, not ever...

  5. #5
    told you so Amelia's Avatar
    Joined
    Jun 2014
    Posts
    44,843
    Thanks
    26577

    From
    Wisconsin
    my bad

  6. #6
    Veteran Member Southern Dad's Avatar
    Joined
    Feb 2015
    Posts
    33,659
    Thanks
    6980

    From
    A Month Away
    Someone seems confused. Offshoring labor isn't what generates the profits that are stored in other countries. Labor is an expense not revenue. Revenue comes from sales in other countries.

  7. #7
    Southern Strategy Liberal OldGaffer's Avatar
    Joined
    Jul 2013
    Posts
    37,908
    Thanks
    39831

    From
    Nashville, TN
    Quote Originally Posted by Southern Dad View Post
    Someone seems confused. Offshoring labor isn't what generates the profits that are stored in other countries. Labor is an expense not revenue. Revenue comes from sales in other countries.
    Not if the product is produced in other countries and sold here.
    Thanks from PACE

  8. #8
    Veteran Member Southern Dad's Avatar
    Joined
    Feb 2015
    Posts
    33,659
    Thanks
    6980

    From
    A Month Away
    Quote Originally Posted by OldGaffer View Post
    Not if the product is produced in other countries and sold here.
    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.

  9. #9
    No mercy for losers Addiction Solitaire Champion, Double Deuce Champion, Queen Jewels Champion, Ray Ray Shuffle Champion, Twins Champion, Blow Up: Arcade Champion, Bunch - Time Trial Champion, Znax Champion, Zoo Keeper Champion, Sobics School Champion, Swap a Smiley Champion, Makos Champion, Dino Drop Champion, Flower Frenzy Champion, Some Puzzle Champion, Funny Bubbles Champion, CubeZ Champion, Dinky Smash Champion, Fun Fun Animals Champion, Fruit Fabriek Champion, Raft Wars Champion, Rainbow Monkey RunDown Champion, Raft Wars Champion, Crime Puzzle Champion Blueneck's Avatar
    Joined
    Jun 2007
    Posts
    46,627
    Thanks
    23565

    From
    Ohio
    Quote Originally Posted by Southern Dad View Post
    Someone seems confused. Offshoring labor isn't what generates the profits that are stored in other countries. Labor is an expense not revenue. Revenue comes from sales in other countries.
    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?

  10. #10
    Southern Strategy Liberal OldGaffer's Avatar
    Joined
    Jul 2013
    Posts
    37,908
    Thanks
    39831

    From
    Nashville, TN
    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.
    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.

Page 1 of 6 123 ... LastLast

Similar Threads

  1. Russian Troll factories....
    By KnotaFrayed in forum Current Events
    Replies: 12
    Last Post: 20th October 2017, 03:25 AM
  2. Jobs! Jobs! Jobs! Tuesday Tweet from the POTUS
    By Southern Dad in forum Current Events
    Replies: 113
    Last Post: 30th March 2017, 03:29 PM
  3. Workers barricade bosses in factories with tires
    By bajisima in forum Economics
    Replies: 16
    Last Post: 9th January 2014, 05:42 AM
  4. Replies: 4
    Last Post: 27th November 2008, 04:52 PM

Tags for this Thread


Facebook Twitter RSS Feed