Economy 53,158 Posted August 14, 2014 Share Posted August 14, 2014 http://www.forbes.com/sites/mikepatton/2014/08/12/will-tax-inversions-sink-the-u-s-economy/ Tax the rich to pay for spending on the poor and help the economy that way right? As usual, wrong! A recent topic of discussion is how the US has one of the highest Corporate tax rates in the world at 35%. US Corporations, particularly large ones that have expanded beyond the borders are reluctant to bring profits back home and re-investing it in thigns like expansion because the moment they bring it back home, it will get a heavy tax. US Corporations have a very high occurence of letting money just pile up in forein Countries they do business in and never re-invest it in the US economy. Domoestic Corporations who only do business in the US also compain about how much tax they pay --------------------- 35% is bloody high. Here in Canada its 15% and people say were a Country of high taxes. And even some of Scandinavia doesnt have corporate taxes that high! Link to post Share on other sites More sharing options...
SinAgain 33 Posted August 14, 2014 Share Posted August 14, 2014 So what's the solution here? The US will never have low-enough corporate taxe rates that will make companies flee their tax havens to return to it. It is all about greed, despite whatever this a--lyst has to say. If those in charge can save 1%, they will do it. They should make it illegal for all these companies to do business and/or sell their products in the US if they are mobilizing tax evasion tactics. It would be fun to watch all the suits squirm. Link to post Share on other sites More sharing options...
Economy 53,158 Posted August 14, 2014 Author Share Posted August 14, 2014 So what's the solution here? The US will never have low-enough corporate taxe rates that will make companies flee their tax havens to return to it. It is all about greed, despite whatever this a--lyst has to say. If those in charge can save 1%, they will do it. They should make it illegal for all these companies to do business and/or sell their products in the US if they are mobilizing tax evasion tactics. It would be fun to watch all the suits squirm. not necessairily Keeping their money away and not bring it back hinders their ability to expand operations and to some degree even hurts shareholders They wont keep their money away to save "1%" trust me. It is damaging to them to keep away money in tax heavens. Its just that with taxes this high, the damage is worse to bring the money back. Also lets not forget high business taxes discourage business investment and entrepreneurship in general I still fail to see why everyone supports the left winged system. Its terrible for the economy :roll: Link to post Share on other sites More sharing options...
SinAgain 33 Posted August 14, 2014 Share Posted August 14, 2014 not necessairily Keeping their money away and not bring it back hinders their ability to expand operations and to some degree even hurts shareholders They wont keep their money away to save "1%" trust me. It is damaging to them to keep away money in tax heavens. Its just that with taxes this high, the damage is worse to bring the money back. Also lets not forget high business taxes discourage business investment and entrepreneurship in general I still fail to see why everyone supports the left winged system. Its terrible for the economy :roll: How so? And I don't support bad economic policy. But I don't see the US winning this fight when there is always a better option. There has to be a universal policy that blocks this from happening. Corporations will never take the ethical route unless they are forced to. Since they don't take that route voluntarily, force them to. Link to post Share on other sites More sharing options...
Economy 53,158 Posted August 14, 2014 Author Share Posted August 14, 2014 How so? And I don't support bad economic policy. But I don't see the US winning this fight when there is always a better option. There has to be a universal policy that blocks this from happening. Corporations will never take the ethical route unless they are forced to. Since they don't take that route voluntarily, force them to.omg i just explained how so :roll: That money they leave away in tax heavens cant be used. Its just sitting there as cash reserves... They cant bring that cash in to expand their business or even loaning it to another business for interest. Not spending that money hurts them. But some prefer to take the pain and leave the money sitting there. because of how rediculously high the taxes are... And then they only bring the money into the US and pay taxes when they really need to, or if an investment is really worth it. If taxes were lower, the cost of paying them would be worth them beig able to invest and no doubt business investment would rise Here in Canada we have a lot less of an issue with offshore cash reserves (though theres still a little bit). But our Corporate taxes are only 15%. Less than half of the rediculous 35% in the US. Even Japan is thinkin of cutting it below that!!! Link to post Share on other sites More sharing options...
SinAgain 33 Posted August 14, 2014 Share Posted August 14, 2014 omg i just explained how so :roll: That money they leave away in tax heavens cant be used. Its just sitting there as cash reserves... They cant bring that cash in to expand their business or even loaning it to another business for interest. Not spending that money hurts them. But some prefer to take the pain and leave the money sitting there. because of how rediculously high the taxes are... And then they only bring the money into the US and pay taxes when they really need to, or if an investment is really worth it. If taxes were lower, the cost of paying them would be worth them beig able to invest and no doubt business investment would rise Here in Canada we have a lot less of an issue with offshore cash reserves (though theres still a little bit). But our Corporate taxes are only 15%. Less than half of the rediculous 35% in the US. Even Japan is thinkin of cutting it below that!!! No need to get all butt-hurt. No one is attacking you. Why start a thread on a discussion board if you are just going to roll your eyes at anyone who questions what you are saying? Link to post Share on other sites More sharing options...
Economy 53,158 Posted August 14, 2014 Author Share Posted August 14, 2014 No need to get all butt-hurt. No one is attacking you. Why start a thread on a discussion board if you are just going to roll your eyes at anyone who questions what you are saying?ok im sorry i got annoyed. My bipolar is acting up today. I didnt mean to snap Its just that i had just explained it and u basically asked me how they get hurt again Link to post Share on other sites More sharing options...
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