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Pensacola Discussion Forum » General Discussion » Warren Buffett to Pay 3B in Burger King buy of Tim Hortons to Avoid US Taxes

Warren Buffett to Pay 3B in Burger King buy of Tim Hortons to Avoid US Taxes

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boards of FL
2seaoat
Joanimaroni
Hospital Bob
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knothead

knothead

Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

Guest


Guest

boards of FL wrote:
colaguy wrote:
boards of FL wrote:For some added context...

Corporate taxes as a percentage of GDP (US is ranked 16th):

Country %Tax
Norway 10.4
Luxembourg 5.1
New Zealand 4.4
Korea 4.0
Czech Republic 3.6
Japan 3.4
Belgium 3.1
Denmark 3.0
Sweden 3.0
Canada 2.9
Switzerland 2.9
United Kingdom 2.9
Italy 2.9
Israel  (1) 2.8
Portugal 2.8
United States 2.6


Total taxes as a percentage of GDP (US is ranked 61st):

Country %Tax
Zimbabwe 49.3
Denmark 49
Belgium 46.8
Sweden 45.8
Cuba 44.8
France 44.6
Finland 43.6
Norway 43.6
Austria 43.4
Lesotho 42.9
Italy 42.6
Bosnia and Herzegovina 41.2
Germany 40.6
Iceland 40.4
Netherlands 39.8
Swaziland 39.8
Slovenia 39.3
Cyprus 39.2
Hungary 39.1
United Kingdom 39
Spain 37.3
Argentina 37.2
Portugal 37
Israel 36.8
Luxembourg 36.5
Czech Republic 36.3
Botswana 35.2
Malta 35.2
New Zealand 34.5
Brazil 34.4
Bulgaria 34.4
Serbia 34.1
Moldova 33.8
Mongolia 33.8
Poland 33.8
Barbados 32.6
Turkey 32.5
Estonia 32.3
Canada 32.2
Seychelles 32
Guyana 31.9
Ireland 30.8
Latvia 30.4
Dominica 30.3
Greece 30
Mexico 29.7
Russia 29.5
Slovakia 29.5
 Switzerland 29.4
Macedonia 29.3
Namibia 28.8
Japan 28.3
Romania 28.1
Ukraine 28.1
Montenegro 28
Trinidad and Tobago 28
Jamaica 27.2
Bolivia 27
Tonga 27
South Africa 26.9
United States (all levels) 26.9

This is fairly irrelevant to the issue.  

Since the US has a humongous economy, 35% of $15T is quite a bit more than 35% of $500B, such as Norway.


Right after saying that using %'s as a means of comparison is irrelevant, you go on to explain why using %'s as a means of comparison is relevant.

We obviously would not compare nominal tax receipts because - as you point out - GDP varies between country.  That is why we use %'s instead.  %'s are the relevant means of comparison whereas nominal values are not.

I bet you struggle with concepts like "per capita", don't you?  Is it just your nature to try to belittle those whose opinion differs from yours?

Please explain why it is relevant that Norway’s corporate tax % = 10.4% of its GDP, and the US corporate tax % = 2.6% of its GDP.

I can also state that my personal income tax rate is 15% of my income (my personal GDP), and someone else’s might be 28% of their income.  Again, explain how this is relevant to the proposal to lower corporate tax rates.

If your point is that the US rate/GDP is much smaller than that of Norway’s then I’ll grant you that is true.  But what is its significance pertaining to the issue of the US corporate tax rate as the highest in the land?  The proponents of lowering the US corporate tax rate are basing that proposal on that doing so will eliminate the competitive disadvantage of US businesses.

In addition, lowering the rate will reduce or eliminate the “need” to move US businesses overseas.   And, it follows that there will be a reduction in the profit dollars (currently $2T) held overseas.

US corporate taxes as a % of ALL US taxes collected was 10% in 2013, per the OMB.  Not a substantial amount.  But, lowering the US corporate tax rate will not have a significant influence on this percentage – by eliminating the exodus, there will be more tax paying US-based companies.

Guest


Guest

knothead wrote:  Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

What exactly is your reasoning that US corporations are opposed to the US defense program, and what does lowering the US corporate tax rate have to do with it?

".....if it's legal why not"  So, is it "unpatriotic of you or me to claim a deduction for charitable contributions or mortgage interest?  How about the deduction for IRA contributions?  No? Well these are part of the same tax code that the US Congress put into place.  The same tax code that allows US businesses to operate overseas to avoid paying US taxes.

I have yet to hear a cogent argument against lowering the US corp tax rate.

knothead

knothead

colaguy wrote:
knothead wrote:  Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

What exactly is your reasoning that US corporations are opposed to the US defense program, and what does lowering the US corporate tax rate have to do with it?

".....if it's legal why not"  So, is it "unpatriotic of you or me to claim a deduction for charitable contributions or mortgage interest?  How about the deduction for IRA contributions?  No? Well these are part of the same tax code that the US Congress put into place.  The same tax code that allows US businesses to operate overseas to avoid paying US taxes.

I have yet to hear a cogent argument against lowering the US corp tax rate.

I agree with lowering the corporate tax rates colaguy what I did not understand reading your comment was the narrative of everyone claims deductions and pays the very least amount possible versus legally abandoning your country because it would improve the bottom line. Two vastly different narratives . . .

boards of FL

boards of FL

colaguy wrote:Please explain why it is relevant that Norway’s corporate tax % = 10.4% of its GDP, and the US corporate tax % = 2.6% of its GDP.


Well, this is a discussion about corporate tax burden, and it has been suggested that American companies feel the heaviest burden of any nation on earth due to the fact that "Our corporate tax rate is the highest in the industrialized world. That's a problem.", as Joanimaroni put it.  

If we're going to compare corporate tax burdens across various countries, we first need to sync them all to some common denominator - Corporate taxes as a % of GDP.  I'm amazed that you were somehow able to make it through high school and this be a foreign concept to you, as I'm pretty sure things like finding a lowest common denominator before comparing or adding fractions is a concept that is taught in elementary school.

Imagine seeing two people argue:

Person A:  I say that 7/10 is a bigger number than 4/8.

Person B:  What?!?!  I say that 4/8 is a bigger number than 7/10.

Elementary school math shows us that we can solve this dispute by finding a lowest common denominator and then comparing.  

7/10 can be converted to 28/40 by multiplying by 4/4, or, 1.

4/8 can be converted to 20/40 by multiplying by 5/5, or 1.  

So now we are essentially comparing 28/40 to 20/40, and we can conclude Person A is correct.  We know this because we synced these two things to some common denominator that allowed us to make direct comparisons.  

If we're going to compare corporate tax burdens across countries that have varying economies and marginal tax rates, the most straightforward approach is to convert each country's tax burden to some common denominator or expression - such as corporate taxes paid as a % of GDP.  This allows us to state each country's tax burden as a function relative to its overall economy - which allows us to make direct comparisons.


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Guest

knothead wrote:
colaguy wrote:
knothead wrote:  Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

What exactly is your reasoning that US corporations are opposed to the US defense program, and what does lowering the US corporate tax rate have to do with it?

".....if it's legal why not"  So, is it "unpatriotic of you or me to claim a deduction for charitable contributions or mortgage interest?  How about the deduction for IRA contributions?  No? Well these are part of the same tax code that the US Congress put into place.  The same tax code that allows US businesses to operate overseas to avoid paying US taxes.

I have yet to hear a cogent argument against lowering the US corp tax rate.

I agree with lowering the corporate tax rates colaguy what I did not understand reading your comment was the narrative of everyone claims deductions and pays the very least amount possible versus legally abandoning your country because it would improve the bottom line.  Two vastly different narratives . . .    

NP Knot.  I understand.  What I don't understand is the mindset of some who say that following the US Tax Code and the provisions put into it by the US Congress is somehow unpatriotic.  I merely tried to point out that most of us don't consider it unpatriotic to use the mortgage interest expense deduction that is part of the same US Tax Code.  If the US Congress didn't intend for people to use it then it should change it.  Similarly, if they didn't intend for US companies to use the Tax Code and move its  company to another company, then the Congress should change it.

Guest


Guest

boards of FL wrote:
colaguy wrote:Please explain why it is relevant that Norway’s corporate tax % = 10.4% of its GDP, and the US corporate tax % = 2.6% of its GDP.


Well, this is a discussion about corporate tax burden, and it has been suggested that American companies feel the heaviest burden of any nation on earth due to the fact that "Our corporate tax rate is the highest in the industrialized world. That's a problem.", as Joanimaroni put it.  

If we're going to compare corporate tax burdens across various countries, we first need to sync them all to some common denominator - Corporate taxes as a % of GDP.  I'm amazed that you were somehow able to make it through high school and this be a foreign concept to you, as I'm pretty sure things like finding a lowest common denominator before comparing or adding fractions is a concept that is taught in elementary school.

Imagine seeing two people argue:

Person A:  I say that 7/10 is a bigger number than 4/8.

Person B:  What?!?!  I say that 4/8 is a bigger number than 7/10.

Elementary school math shows us that we can solve this dispute by finding a lowest common denominator and then comparing.  

7/10 can be converted to 28/40 by multiplying by 4/4, or, 1.

4/8 can be converted to 20/40 by multiplying by 5/5, or 1.  

So now we are essentially comparing 28/40 to 20/40, and we can conclude Person A is correct.  We know this because we synced these two things to some common denominator that allowed us to make direct comparisons.  

If we're going to compare corporate tax burdens across countries that have varying economies and marginal tax rates, the most straightforward approach is to convert each country's tax burden to some common denominator or expression - such as corporate taxes paid as a % of GDP.  This allows us to state each country's tax burden as a function relative to its overall economy - which allows us to make direct comparisons.

“I'm amazed that you were somehow able to make it through high school and this be a foreign concept to you”  Again, is it just your nature to try to belittle those whose opinion differs from yours?


I believe your premise that we need to compare corporate tax burdens across various countries is flawed – not cogent to the issue at hand.  A comparison of tax burdens across various countries does not address the fundamental disparity in competition between corporate operations in different countries.  Some companies are marginally successful in their operations.  Taxes are just one of many costs that a company must include in its operations.  While not directly included in COGS it’s fairly easy to see that lowering the tax rate from 35% to 25% reduces the overall taxes payable, and therefore enables it to better price its product.  This helps the US company better able to compete globally:  US Company ABC makes widgets and competes with Foreign Company XYZ.  A lower US tax rate enables it to market its widgets at a competitive price.  And, especially for those marginally successful companies may mean the difference in survival or failure.

boards of FL

boards of FL

colaguy wrote:Again, is it just your nature to try to belittle those whose opinion differs from yours?


Forgive me. Perhaps it is too much to assume that those who participate in online discussions of corporate tax burden also possess some elementary knowledge of math.

Now if you'll excuse me for a second...

(lowers standards)


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Joanimaroni

Joanimaroni

colaguy wrote:
knothead wrote:
colaguy wrote:
knothead wrote:  Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

What exactly is your reasoning that US corporations are opposed to the US defense program, and what does lowering the US corporate tax rate have to do with it?

".....if it's legal why not"  So, is it "unpatriotic of you or me to claim a deduction for charitable contributions or mortgage interest?  How about the deduction for IRA contributions?  No? Well these are part of the same tax code that the US Congress put into place.  The same tax code that allows US businesses to operate overseas to avoid paying US taxes.

I have yet to hear a cogent argument against lowering the US corp tax rate.

I agree with lowering the corporate tax rates colaguy what I did not understand reading your comment was the narrative of everyone claims deductions and pays the very least amount possible versus legally abandoning your country because it would improve the bottom line.  Two vastly different narratives . . .    

NP Knot.  I understand.  What I don't understand is the mindset of some who say that following the US Tax Code and the provisions put into it by the US Congress is somehow unpatriotic.  I merely tried to point out that most of us don't consider it unpatriotic to use the mortgage interest expense deduction that is part of the same US Tax Code.  If the US Congress didn't intend for people to use it then it should change it.  Similarly, if they didn't intend for US companies to use the Tax Code and move its  company to another company, then the Congress should change it.


cheers

Floridatexan

Floridatexan

colaguy wrote:
knothead wrote:
colaguy wrote:
knothead wrote:  Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

What exactly is your reasoning that US corporations are opposed to the US defense program, and what does lowering the US corporate tax rate have to do with it?

".....if it's legal why not"  So, is it "unpatriotic of you or me to claim a deduction for charitable contributions or mortgage interest?  How about the deduction for IRA contributions?  No? Well these are part of the same tax code that the US Congress put into place.  The same tax code that allows US businesses to operate overseas to avoid paying US taxes.

I have yet to hear a cogent argument against lowering the US corp tax rate.

I agree with lowering the corporate tax rates colaguy what I did not understand reading your comment was the narrative of everyone claims deductions and pays the very least amount possible versus legally abandoning your country because it would improve the bottom line.  Two vastly different narratives . . .    

NP Knot.  I understand.  What I don't understand is the mindset of some who say that following the US Tax Code and the provisions put into it by the US Congress is somehow unpatriotic.  I merely tried to point out that most of us don't consider it unpatriotic to use the mortgage interest expense deduction that is part of the same US Tax Code.  If the US Congress didn't intend for people to use it then it should change it.  Similarly, if they didn't intend for US companies to use the Tax Code and move its  company to another company, then the Congress should change it.

Most of us aren't hiding our assets overseas or moving our operations out of the country to avoid paying taxes.

Floridatexan

Floridatexan

colaguy wrote:
knothead wrote:
colaguy wrote:
knothead wrote:  Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

What exactly is your reasoning that US corporations are opposed to the US defense program, and what does lowering the US corporate tax rate have to do with it?

".....if it's legal why not"  So, is it "unpatriotic of you or me to claim a deduction for charitable contributions or mortgage interest?  How about the deduction for IRA contributions?  No? Well these are part of the same tax code that the US Congress put into place.  The same tax code that allows US businesses to operate overseas to avoid paying US taxes.

I have yet to hear a cogent argument against lowering the US corp tax rate.

I agree with lowering the corporate tax rates colaguy what I did not understand reading your comment was the narrative of everyone claims deductions and pays the very least amount possible versus legally abandoning your country because it would improve the bottom line.  Two vastly different narratives . . .    

NP Knot.  I understand.  What I don't understand is the mindset of some who say that following the US Tax Code and the provisions put into it by the US Congress is somehow unpatriotic.  I merely tried to point out that most of us don't consider it unpatriotic to use the mortgage interest expense deduction that is part of the same US Tax Code.  If the US Congress didn't intend for people to use it then it should change it.  Similarly, if they didn't intend for US companies to use the Tax Code and move its  company to another company, then the Congress should change it.

Most of us aren't hiding our assets overseas or moving our operations out of the country to avoid paying taxes. It's also ridiculous to compare something so ordinary as the mortgage deduction to the numerous corporate loopholes available. It's even hard to compare taxes across the spectrum of individual returns because there are so many variables.

Guest


Guest

Floridatexan wrote:
colaguy wrote:
knothead wrote:
colaguy wrote:
knothead wrote:  Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

What exactly is your reasoning that US corporations are opposed to the US defense program, and what does lowering the US corporate tax rate have to do with it?

".....if it's legal why not"  So, is it "unpatriotic of you or me to claim a deduction for charitable contributions or mortgage interest?  How about the deduction for IRA contributions?  No? Well these are part of the same tax code that the US Congress put into place.  The same tax code that allows US businesses to operate overseas to avoid paying US taxes.

I have yet to hear a cogent argument against lowering the US corp tax rate.

I agree with lowering the corporate tax rates colaguy what I did not understand reading your comment was the narrative of everyone claims deductions and pays the very least amount possible versus legally abandoning your country because it would improve the bottom line.  Two vastly different narratives . . .    

NP Knot.  I understand.  What I don't understand is the mindset of some who say that following the US Tax Code and the provisions put into it by the US Congress is somehow unpatriotic.  I merely tried to point out that most of us don't consider it unpatriotic to use the mortgage interest expense deduction that is part of the same US Tax Code.  If the US Congress didn't intend for people to use it then it should change it.  Similarly, if they didn't intend for US companies to use the Tax Code and move its  company to another company, then the Congress should change it.

Most of us aren't hiding our assets overseas or moving our operations out of the country to avoid paying taxes.  

While it IS illegal for individuals to do that - it is legal for companies to do so, per the US Tax Code.  In 1997, the Treasury changed regulations to permit corporations to decide for themselves.  So wrote your Congressmen, so it has become.

Guest


Guest

boards of FL wrote:
colaguy wrote:Again, is it just your nature to try to belittle those whose opinion differs from yours?


Forgive me.  Perhaps it is too much to assume that those who participate in online discussions of corporate tax burden also possess some elementary knowledge of math.

Now if you'll excuse me for a second...

(lowers standards)

It's disingenuous to ask forgiveness, then turn around and insult.

Markle

Markle

2seaoat wrote:How do we fix the problem ....put up a huge barbed wire fence to keep corporations here and call them un-American if they leave?

We do not need to put up a barb wire fence.   We just need to utilize the tax code to punish economic traitors.  Many in Congress want to pursue legislation to address tax-inverting companies, but no consensus measures have emerged. Senate Finance Committee Chairman Ron Wyden of Oregon said earlier this month he's working with Sen. Chuck Schumer, the No. 3 Senate Democrat, and ranking member Orrin Hatch of Utah, on a bipartisan bill, but details are sketchy.

The highest corporate tax rate is an absurd concept.  That is like telling an individual they have to pay a certain rate before they took their deductions.  The truth is just the opposite.  The only true measure of corporate tax is as a percentage of GDP.  The truth is we are at a historical low.   It is amazing how the Oligarchy has brainwashed otherwise intelligent people to work against their economic interests while the 1% skates on their contributions.

http://www.huffingtonpost.com/2011/03/02/corporate-tax-revenues-ne_n_830361.html

The highlighted sentence of one of my Progressive friends explains why they can never create jobs or build an economy.

They actually believe that it is easier and better to PUNISH someone into creating more jobs and paying more in taxes.

It is beyond their wild comprehension that they LOWER and REWARD people and corporations for bringing their money here and paying a lower rate of taxes.

I wonder if any of think good things would happen if the punished and slapped around their spouse or would better things happen if you were kind, considerate, generous and loving?

Markle

Markle

colaguy wrote:
Floridatexan wrote:
colaguy wrote:
knothead wrote:
colaguy wrote:
knothead wrote:  Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

What exactly is your reasoning that US corporations are opposed to the US defense program, and what does lowering the US corporate tax rate have to do with it?

".....if it's legal why not"  So, is it "unpatriotic of you or me to claim a deduction for charitable contributions or mortgage interest?  How about the deduction for IRA contributions?  No? Well these are part of the same tax code that the US Congress put into place.  The same tax code that allows US businesses to operate overseas to avoid paying US taxes.

I have yet to hear a cogent argument against lowering the US corp tax rate.

I agree with lowering the corporate tax rates colaguy what I did not understand reading your comment was the narrative of everyone claims deductions and pays the very least amount possible versus legally abandoning your country because it would improve the bottom line.  Two vastly different narratives . . .    

NP Knot.  I understand.  What I don't understand is the mindset of some who say that following the US Tax Code and the provisions put into it by the US Congress is somehow unpatriotic.  I merely tried to point out that most of us don't consider it unpatriotic to use the mortgage interest expense deduction that is part of the same US Tax Code.  If the US Congress didn't intend for people to use it then it should change it.  Similarly, if they didn't intend for US companies to use the Tax Code and move its  company to another company, then the Congress should change it.

Most of us aren't hiding our assets overseas or moving our operations out of the country to avoid paying taxes.  

While it IS illegal for individuals to do that - it is legal for companies to do so, per the US Tax Code.  In 1997, the Treasury changed regulations to permit corporations to decide for themselves.  So wrote your Congressmen, so it has become.

No, it is legal for me to renounce my American citizenship and take up a citizenship in another country and lower my tax rate.

So if you think punishing people is a way to persuade them to do something, keep it up and see how that works for you!

Markle

Markle

knothead wrote:  Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

Which explains how lowering the corporate tax rate would being in much more money and help keep corporations and jobs in this country.

Markle

Markle

knothead wrote:
colaguy wrote:
knothead wrote:  Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

What exactly is your reasoning that US corporations are opposed to the US defense program, and what does lowering the US corporate tax rate have to do with it?

".....if it's legal why not"  So, is it "unpatriotic of you or me to claim a deduction for charitable contributions or mortgage interest?  How about the deduction for IRA contributions?  No? Well these are part of the same tax code that the US Congress put into place.  The same tax code that allows US businesses to operate overseas to avoid paying US taxes.

I have yet to hear a cogent argument against lowering the US corp tax rate.

I agree with lowering the corporate tax rates colaguy what I did not understand reading your comment was the narrative of everyone claims deductions and pays the very least amount possible versus legally abandoning your country because it would improve the bottom line.  Two vastly different narratives . . .    

More of the very wealthy have surrendered their U.S. citizenship in favor of another country where they are rewarded for living there and being wealthy instead of being punished.

How is it that my Progressive good friends cannot grasp the concept of reward being better than punishment in order to have good results.

I wonder how many of my Progressive good friends would berate and abuse their spouses when they come home from work and then expect rollicking good sex later that night?

Markle

Markle

Floridatexan wrote:
colaguy wrote:
knothead wrote:
colaguy wrote:
knothead wrote:  Of all the other nations who have 'lower' tax rates how many have the burden of defending the world? Aircraft carrier fleets get mighty expensive yet the US maintains them at ready and everyone benefits but US corporations want to jump ship and leave? It's a Republican mind set . . . . . if it's legal why not?

What exactly is your reasoning that US corporations are opposed to the US defense program, and what does lowering the US corporate tax rate have to do with it?

".....if it's legal why not"  So, is it "unpatriotic of you or me to claim a deduction for charitable contributions or mortgage interest?  How about the deduction for IRA contributions?  No? Well these are part of the same tax code that the US Congress put into place.  The same tax code that allows US businesses to operate overseas to avoid paying US taxes.

I have yet to hear a cogent argument against lowering the US corp tax rate.

I agree with lowering the corporate tax rates colaguy what I did not understand reading your comment was the narrative of everyone claims deductions and pays the very least amount possible versus legally abandoning your country because it would improve the bottom line.  Two vastly different narratives . . .    

NP Knot.  I understand.  What I don't understand is the mindset of some who say that following the US Tax Code and the provisions put into it by the US Congress is somehow unpatriotic.  I merely tried to point out that most of us don't consider it unpatriotic to use the mortgage interest expense deduction that is part of the same US Tax Code.  If the US Congress didn't intend for people to use it then it should change it.  Similarly, if they didn't intend for US companies to use the Tax Code and move its  company to another company, then the Congress should change it.

Most of us aren't hiding our assets overseas or moving our operations out of the country to avoid paying taxes.  

Do you not take all the deductions you are allowed under the law and happily pay more in taxes? Do you take a few extra deductions? Far to many people pay too much in taxes simply because they can't understand our tax code.

So tell us, how much more do you pay? To contribute to the well being of the Country, support those tax receivers and pay through the nose to be more patriotic than the next person.

Guest


Guest

http://www.usatoday.com/story/money/2014/09/08/what-will-the-sale-of-ge-appliances-mean-for-jobs/15272205/

Joanimaroni

Joanimaroni

Th Dude wrote:http://www.usatoday.com/story/money/2014/09/08/what-will-the-sale-of-ge-appliances-mean-for-jobs/15272205/
Maybe McDonald employees will have some stiff competition for jobs if we do not do something about the 39% tax rate on corporations.

The US needs to do everything possible to make it profittable for businesses to remain in the US. The worst thing we face is the loss of jobs. 

I do not understand the mentality of demanding corporations pay the highest tax rates possible just because they are making a profit. As it stands.....those profits pay American workers.

Joanimaroni

Joanimaroni

boards of FL wrote:
colaguy wrote:
boards of FL wrote:For some added context...

Corporate taxes as a percentage of GDP (US is ranked 16th):

Country %Tax
Norway 10.4
Luxembourg 5.1
New Zealand 4.4
Korea 4.0
Czech Republic 3.6
Japan 3.4
Belgium 3.1
Denmark 3.0
Sweden 3.0
Canada 2.9
Switzerland 2.9
United Kingdom 2.9
Italy 2.9
Israel  (1) 2.8
Portugal 2.8
United States 2.6


Total taxes as a percentage of GDP (US is ranked 61st):

Country %Tax
Zimbabwe 49.3
Denmark 49
Belgium 46.8
Sweden 45.8
Cuba 44.8
France 44.6
Finland 43.6
Norway 43.6
Austria 43.4
Lesotho 42.9
Italy 42.6
Bosnia and Herzegovina 41.2
Germany 40.6
Iceland 40.4
Netherlands 39.8
Swaziland 39.8
Slovenia 39.3
Cyprus 39.2
Hungary 39.1
United Kingdom 39
Spain 37.3
Argentina 37.2
Portugal 37
Israel 36.8
Luxembourg 36.5
Czech Republic 36.3
Botswana 35.2
Malta 35.2
New Zealand 34.5
Brazil 34.4
Bulgaria 34.4
Serbia 34.1
Moldova 33.8
Mongolia 33.8
Poland 33.8
Barbados 32.6
Turkey 32.5
Estonia 32.3
Canada 32.2
Seychelles 32
Guyana 31.9
Ireland 30.8
Latvia 30.4
Dominica 30.3
Greece 30
Mexico 29.7
Russia 29.5
Slovakia 29.5
 Switzerland 29.4
Macedonia 29.3
Namibia 28.8
Japan 28.3
Romania 28.1
Ukraine 28.1
Montenegro 28
Trinidad and Tobago 28
Jamaica 27.2
Bolivia 27
Tonga 27
South Africa 26.9
United States (all levels) 26.9

This is fairly irrelevant to the issue.  

Since the US has a humongous economy, 35% of $15T is quite a bit more than 35% of $500B, such as Norway.


Right after saying that using %'s as a means of comparison is irrelevant, you go on to explain why using %'s as a means of comparison is relevant.

We obviously would not compare nominal tax receipts because - as you point out - GDP varies between country.  That is why we use %'s instead.  %'s are the relevant means of comparison whereas nominal values are not.

I bet you struggle with concepts like "per capita", don't you?


Instead of insulting posters why don't you consider what is happening.......the US despite % is losing corporation to other countries.....We are losing manufactures too......the loss of manufacturing companies = a loss of American jobs.

Guest


Guest

Precent of gdp is irrelevant to a business... he's just looking at it from a political pov.

Where do corp tax dollars derive? It's really just circuitous consumption tax if you just look at the effective results.

Joanimaroni

Joanimaroni

Th Dude wrote:Precent of gdp is irrelevant to a business... he's just looking at it from a political pov.  

Where do corp tax dollars derive? It's really just circuitous consumption tax if you just look at the effective results

  The big picture dosen't always fit into a mathmatical equation.





Warren Buffett to Pay 3B in Burger King buy of Tim Hortons to Avoid US Taxes - Page 2 Jokes_10

2seaoat



Return corporate tax revenue as a percentage of gdp back to what it was in 1970. Penalize corporations who use American benefits but avoid contribution. Streamline the tax code and take out the subsidy and tax avoidance schemes. Do not try to get all lost revenue back in five years. We need a gradual and definable path to sanity over the next twenty years.

Markle

Markle

Th Dude wrote:Precent of gdp is irrelevant to a business... he's just looking at it from a political pov.  

Where do corp tax dollars derive? It's really just circuitous consumption tax if you just look at the effective results.

That raises prices for that particular corporation making them less competitive with corporations not paying those higher taxes.

Progressives demand that successful people and companies be punished as much as possible for their success. How that strikes (pun intended) them as a brilliant idea, escapes me. At the same time, these same Progressives steadfastly believe rewarding unsuccessful people and companies who refuse to play by the rules is somehow going to lead to them working harder and producing taxes. Whew, brilliant!

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