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Thread: Tax law may send factories and jobs abroad

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    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.
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    We choose both. Amelia's Avatar
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    well, isn't that special

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    We choose both. Amelia's Avatar
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    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.
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    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...

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    We choose both. Amelia's Avatar
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    my bad

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    Veteran Member Southern Dad's Avatar
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    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.

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    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.
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    Veteran Member Southern Dad's Avatar
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    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.

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    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?
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    Southern Strategy Liberal OldGaffer's Avatar
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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.
    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.
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