Regime says when corporations move it costs Treasury billions - unions say it is unpatriotic

Discussion in 'Too Hot for Swamp Gas' started by g8orbill, Jul 17, 2014.

  1. MichiGator2002
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    MichiGator2002 VIP Member

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    Honestly, the most corrosive thing going in America is the ideology by which anyone would come up with or agree with what you have said on this thread. All "stay and obey". All tyranny. All command and control.
  2. CaptUSMCNole
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    So how does that work with foreign investment in America? Should Germany seize the profits of the BMW, VW, and Mercedes plants they opened in America? Should any foreign telecom forfeit all profits from their investments in Silicon Valley?

    The hard true is that the world is filled with a work force that can be quickly trained to provide the same level of service as Americans with the same level of education. The internet has severely shrunk the globe to the point where if you don't need a service tomorrow or it has to be preformed locally, there are a lot of people who can and will do it cheaper. Gone are the days when a HS education would be enough earn a living.

    We need to restructure our education system to get away from a one size fits all approach and create different paths for those who want to go into vocational professions, healthcare, Police/firefighter, construction, etc along with college prep so young people are prepared to go into a field after high school.

    The days thinking that a HS diploma is enough to compete in a global economy are over. That ship sailed once the internet became a mainstay of modern business. Thinking that we can change that through protective legislation will only further hamper the US.
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  3. BastogneGator
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    Its truly a global economy. You can do business anywhere with an internet connection. We need to adjust to compete in this environment. New York and London are not the only business hubs in the world now.
  4. BastogneGator
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    BastogneGator Well-Known Member

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    The cry of the under qualified...
  5. BastogneGator
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    If only it were backed up by facts instead of an obvious emotional appeal to the masses fallacy.
  6. harwil
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    harwil Premium Member

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    That's because of credits, deductions, government incentives(green energy, etc.) (1)to promote what the government thinks is good and(2) lobbying and crony capitalism, all of which are legal,but maybe not useful or efficient.
  7. fredsanford
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    fredsanford VIP Member

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    We have been adjusting. CEO and corporate officer pay up, everyone else's down.
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  8. philobeddoe
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    philobeddoe Well-Known Member

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    But .... do you not understand the catalyst for this "destruction of America"? Do you really not understand why a multi-national corporation would "go though the headache" of moving its headquarters from the US????? That's not a simple task, although technology has made it much easier than it was in the past.
  9. CHFG8R
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    Very easy actually. With the lowering of trade barriers (globalization) it makes it affordable to utilize radically cheaper labor overseas then bring it back with no penalty.

    I'm not calling for anything as silly as the dude, but I'm not sure how one defends this practice. We won the greatest war, for the most part, because of our manufacturing capacity. We could not do that again today. It would take a decade or more of rebuilding manufacturing infrastructure before we could even think about manufacturing on that scale again. I mean, maybe trade barriers aren't such a bad thing after all.
  10. philobeddoe
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    Well .... if the US allows foreign investment in multi-national corporations based in the US .... it's going to be faced with this issue as it sustains a relatively high "tax cost" for those businesses. The problem is .... the left and the federal government is looking to corporations to pay for the sins of US politicians ... and American citizens unwilling to pay their fair share in federal individual income taxes. Before I would enact any legislation on C-corps ... I would eliminate the "tax break" enjoyed by S-corps and other pass-through entities. make them play by the same rules as C-corps.
  11. BastogneGator
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    Well having the highest corporate tax rates in the developed world aren't going to help.
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  12. Bushmaster
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    S Corps are small corporations and owned by people who would like some legal protection so they don't lose their house or life savings if they get sued in our litigation happy society.

    For the most part, they do play by the same rules as C Corps except their income is taxed at the shareholder level.
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  13. rivergator
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    rivergator Well-Known Member

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    For those of us who remember guys going to Canada to avoid the draft, it's interesting how conservatives have changed sides completely.
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  14. philobeddoe
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    philobeddoe Well-Known Member

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    I know what an s-corp is .... and invested with 3 at the present time, as well as 4 LLCs. That's my point .... so many denigrate the actions of large corporations - C-corps - asserting that they do not pay enough in US income taxes ....... not realizing the fact that smaller corps and other pass-throughs are the entities enjoying the benefits of single-taxation, and are likely not paying a fair share in federal income taxes relative to what the C-corps pay.
  15. Bushmaster
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    I hope you didn't think I was speaking down to you.

    My position will always be that C Corps pay way too much in income taxes. Couple that with no dividend deduction and the shareholder having to pay income taxes on dividends (even with the qualified rate of 15%), that C Corp profit of $1 gets hit for about $.45 BEFORE any state income tax. Add the state income tax (7% here), the C Corp will yield $.47 cents after on $1.

    IOW, federal and state governments make $.53 cents on the dollar, the actual owner of the $1 gets $.47.

    And some people think that isn't enough taxes.
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  16. philobeddoe
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    philobeddoe Well-Known Member

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    I didn't.

    A long time ago, I had a roundie-round with a member here RE sub-S taxation in contrast to that of the C-corp and tried to explain to her that she was legally avoiding taxes on her corporation's taxable income by using the pass through entity "tax break". She, of course, didn't want to acknowledge that her use of the sub-S, while smart, represented a tax break for her vis-a-vis her competitors and other businesses that were C-corps.

    You know ..... I wonder is she was using Sec 179 and accelerated depreciation method "tax breaks" in her sub-S tax accounting?
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  17. GatorGrowl
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  18. madgator
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    Still trying to understand the contradictions from democrats/progressives as to when american patriotism is good and when it is evil.

    apparently it has a lot to do with paying taxes and blind adherance to whims of government

    but the fact is that a corporations sole purpose is not to create jobs, pay taxes, or be an extended tool of enforcing government policy. like it or not, the sole purpose is to maximize profits from the production and dissemination of goods or services.
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  19. rivergator
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    rivergator Well-Known Member

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    I'm trying to understand the outrage by conservatives that anyone would dare accuse anyone else of being unpatriotic.
    Last edited: Jul 18, 2014
  20. BastogneGator
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    Apples and Oranges. You cannot compare an individuals legal responsibilities with a business looking to better compete. Speaking of draft dodgers when is the Clinton foundation going to move overseas?
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