France wants to slap the rich with 75% super tax

This is what I am disputing here. You can hide your money all you want but all America has to do is tax the companies that you own, and all you can do is suck it. You cannot move them anywhere because this is the best place for them. So if our government needs to raise taxes it should and the people should, stop listening to this nonsense because it has no root in economic theory or facts.

 

You don't need to wait...read any of my previous posts. Wealthy individuals and corporations can easily move their capital and their physical residences to the most tax friendly environments. Almost all corporations incorporate in Delaware because it is a tax friendly state. Corporations keep a significant portion of their profits overseas in markets with more favorable tax rates. So the only people "sucking it" are those here in America looking for work. Obama needs to learn the phrase "don't bite the hand that feeds you". He needs corporations in order to get the economy moving again. The government cannot "bail us out" of this economic mess, it needs to happen in the private sector. I'm an economics major and I wish Obama had taken an Econ class back in the day.

 

So if we tax these corporations more then what do you say is going to happen?? Are they going to move or will they simply pay the tax. All I want is a straight answer.

 

That's not true. If a company has an office outside the US, they can claim the revenue in that country and pay taxes there. They do not need to bring the revenue back to the US. US companies led by General Electric Co. (GE) and Pfizer Inc. (PFE) stockpiled an additional $187 billion in untaxed overseas profits over the past year, boosting their offshore holdings by 18.4 percent, according to data compiled by Bloomberg.

The 70 U.S.-based companies studied hold $1.2 trillion in profits around the world. GE and Pfizer have built up the most money outside the U.S., with $102 billion and $63 billion respectively, according to securities filings. Apple Inc. (AAPL), Google Inc. (GOOG) and Microsoft Corp. (MSFT) were among the companies that increased their accumulated overseas profits by more than 40 percent in 2011.

http://www.bloomberg.com/news/2012-...187-billion-in-untaxed-offshore-accounts.html

 

Check out my post above. Corporations will keep profits overseas. In 2011, 70 major US companies held $1.2 trillion in profits overseas. I'm not a mathematician, but that would be a lot of jobs created if those profits were claimed here in the US and businesses could expand.

 

Tax law changes all the time. The Point is America CAN tax these companies, that is why we have these debates in the first place, the law may be changed to solve problems, why are you dodging this common sense fact?? SO JUST ANSWER MY QUESTION. You won't because you know I am right.

 

I am going to the gym will check later to see how you continue to dodge my simple question.

 

I wonder what happens to these corporations when the American consumers can no longer pay for their over priced shit because NO ONE else will at least not at the levels we consume.

 

My point is that these companies want to come back and invest here in America, but the Dems treat them like the enemy.

Under the U.S. tax code, the top corporate rate is 35 percent on worldwide profits. Companies receive credits for payments to other governments, and they can defer taxation while the money accumulates. When companies bring their profits home, they pay U.S. taxes after subtracting the foreign tax credits.

Andrew Williams, a spokesman for GE, said “We believe fundamental tax reform would increase domestic investment, create high-quality jobs and encourage U.S. multinationals to reinvest more overseas earnings in the U.S.,”

 

Consumers can't pay for anything right now because they're broke and unemployed. The only people that can hire them are corporations, but Obama is forcing them overseas with his "money grab". Let's all stop running around with our "Corporations are evil" banners and realize actually do good for society. They make amazing products and employ millions of people. Have there been bad people who have worked at corporations? Yes. But the institution itself is not evil.

 

Ok, I'll just sit here and figure out a way to answer your question for the 75th time. I wish I could draw pictures on here...

 

True, the question of taxes is only possible because of different taxation regimes across borders. It can be seen on the state level as states compete for direct investment. Just watch the circus as they beg factories to locate within their borders, to the point of giving them more in subsidy than the actual yield in jobs. Free market fundamentalism has rendered human societies across the planet unable to order and meet their own basic needs and conditions. If every jurisdiction on the planet or within a country or state simply enforced a higher tax rate, it wouldn't herald the end of business, they would just pay it and move on.

 

Thank God we don't live in a world where every government could collude and establish one higher tax rate and there were no options. I'm glad we have the opportunity for freedom of choice. When Reagan took over in the 80's the top tax rate was 75% before he lowered it. People were basically paying their employers to come to work...

 

You only thought it was because it gave the usual out of touch right wing blow job to the masses.
So there.

I win.

 

No corporation or wealthy person in this country has EVER paid 75% in taxes. Yes that may have been the top federal income tax rate, but not after all the write offs and loop holes are calculated.

And let's stop acting like U.S. corporations only started offshoring profits once Obama got into office. This had been going on well into the Dubya Bush administration and before.

Personally I think it's a form of economic extortion by U.S. corporations to twist the arm of Congress to lower federal rates. I don't believe for a minute if we lowered the tax burden on these corporations, they would be crawling over each other to build factories domestically.

I would love to read a study of how many French, German, UK and Italian corporations are engaged in the same type of practices against their countries of origin.

 

Hollande campaigned with the .75 rate of taxation as part of the socialist platform and the French people voted him/them into office. They got what they wanted, end of story.

The relevant question is what state is the French economy currently in? Not the best due to double-digit unemployment (10%), but they're doing much better than their peers in the European Union.

 

And sweet Christ, Segolene Royal is hottest fifty-nine year old woman of ALL TIME!

 

Well according to this post here the multinational corporations already have a sweet deal on taxes, why should they be in a hurry to reinvest in America, all they have to do is wait on a sweeter deal, then move on that. If that is your line of thinking then I agree. However this is true because the tax code is written in their favor to encourage this behavior. They already have a good deal and they still do not hire American workers, so the jobs are not a factor in this discussion, unless you want to lower taxes ONLY for the companies that bring jobs back to America. My point is that the tax code should be changed so that they must pay taxes on the money they earn just as soon as everyone else does and if we raise the taxes on that all they can do is pay it. America holds to much market share for them to do anything else. They are not hiring American workers anyway so who cares about what else they do? If you are an economics major then you know that market share=power, because demand serves to raise the world equilibrium price for their goods. So as long as they get a high rate of return on investment due to the high demand in America then they will pay our government whatever it tells them to pay, and they WILL suck it if our government tells them too. If you want to see hard factual data just look at the world suppliers that America has blocked or imposed import quotas on their products and see how bad they are doing. Hint=why are the Latin countries poor????

 

If you are an economics major you better love math as if you are one. regression analysis, calculus based probability (Intergration), differential equations and much more

 

To get a job in the private sector yeah but to teach... not so much. Did the program for a year