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Author
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Topic: We're Number 1----We're Number 1
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jwhop
Knowflake Posts: 5044
From: Madeira Beach, FL USA
Registered: Apr 2009
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posted March 30, 2012 01:59 PM
  
Yea, strike up the band Maestro and let's all celebrate the big, big, big win of becoming Numero Uno; the country with the highest corporate tax rate in the industrial world.We owe all that to demoscats...in the White House and in Congress. Let's give O'Bomber and his Socialist congressional pals a big hand.  We’re No. 1: In highest corporate taxes
Fri, 2012-03-30 Come Sunday, America finally has something to crow about in its economic war with China and Japan: It will have the highest jobs-killing corporate tax rate in the industrialized world. No, it’s not an April Fool’s joke. When Japan officially slashes its rate to 36.8 percent Sunday, America’s will be tops at 39.2 percent. President Obama has proposed a rate of 28 percent, but Republicans charge that it comes with $350 billion in new, off-setting taxes. The GOP is pushing for a cut to 25 percent, but the election year is getting in the way of any deal. The Business Roundtable has been pushing for a clean cut in corporate tax rates, claiming it would spur job growth and industrial reinvestment. They even cite a recent move by England to cut their tax rates from 28 percent to 22 percent, which officials called “an advertisement for investment and jobs in Britain.” Tita Freeman of the Business Roundtable told Secrets, “Comprehensive tax reform is an imperative for the U.S. if we are going to remain a leader in the worldwide economy.” Sen. John Barrasso, R-Wyo., chairman of the Senate Republican Policy Committee, has also been pressing for action on the tax rate. “Even Russia, at 20 percent, and China, at 25 percent, have lower rates than America does. The difference in tax rates means American companies are trying to compete with one hand tied behind their backs,” he said.
http://washingtonexaminer.com/politics/washington-secrets/2012/03/we’re-no-1-highest-corporate-taxes/424571 IP: Logged |
AcousticGod
Knowflake Posts: 5871
From: Pleasanton, CA
Registered: Apr 2009
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posted March 30, 2012 02:12 PM
Yup, and yet America remains home to several of the biggest companies in the world, because the context is and has been that the corporate tax rate isn't the effective tax rate for many American corporations.IP: Logged |
Randall
Webmaster Posts: 17031
From: Saturn next to Charmainec
Registered: Apr 2009
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posted March 30, 2012 02:50 PM
Yay!------------------
"Never mentally imagine for another that which you would not want to experience for yourself, since the mental image you send out inevitably comes back to you." Rebecca Clark IP: Logged |
jwhop
Knowflake Posts: 5044
From: Madeira Beach, FL USA
Registered: Apr 2009
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posted March 30, 2012 02:52 PM
Yeah, we're home to some of the biggest corporations in the world...who do most of their business and manufacturing in other nations under different names or under laws of incorporation in that nation....with local labor. That's such a big help in creating AMERICAN JOBS.Another false, absurd, impotent, misleading, twisted, distorted statement which holds no water in the "real world". IP: Logged |
AcousticGod
Knowflake Posts: 5871
From: Pleasanton, CA
Registered: Apr 2009
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posted March 30, 2012 07:25 PM
I think you're going overboard in trying to sell your point. It's encouraging to see you looking out for the little guy for once.Obama's off-setting tax proposals are closing tax loopholes. Conservatives shouldn't balk at that. Those loopholes are why the rate is artificially high in the first place. You like Fox, right?
http://www.foxnews.com/politics/2012/02/21/obama-administration-to-unveil-corporate-tax-reform-plan/ There's no reason why Conservatives shouldn't move to negotiate on this. Particularly because they can just as easily author a bill like this themselves. The point of contention is actually about manufacturing. Conservatives don't wish for manufacturing to see a special, lower rate. They should be able to get Obama to see their side on that point. You were wrong in blaming Democrats for the high rate by the way. The current rates happened on Reagan's watch, and by his signature. IP: Logged |
jwhop
Knowflake Posts: 5044
From: Madeira Beach, FL USA
Registered: Apr 2009
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posted March 31, 2012 01:07 AM
I don't need to sell anything acoustic. Your argument lacks any merit whatsoever.Anyone with an ounce of common sense knows exactly why businesses have been and still are fleeing the United States or moving large parts of their operations offshore. It's exactly the same reason California, New York, Michigan and some other states are business wastelands. That reason is called "TAXES". Who would ever have thought the capitalist mecca of the world would ever become one of the most difficult..regulation wise..and costly places...tax wise...on the planet to do business! Give yourselves a big  demoscats. IP: Logged |
Ami Anne
Moderator Posts: 30126
From: Pluto/house next to NickiG
Registered: Sep 2010
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posted March 31, 2012 08:07 AM
quote:
Originally posted by jwhop:
I don't need to sell anything acoustic. Your argument lacks any merit whatsoever.Anyone with an ounce of common sense knows exactly why businesses have been and still are fleeing the United States or moving large parts of their operations offshore. It's exactly the same reason California, New York, Michigan and some other states are business wastelands. That reason is called "TAXES". Who would ever have thought the capitalist mecca of the world would ever become one of the most difficult..regulation wise..and costly places...tax wise...on the planet to do business! Give yourselves a big demoscats.
The bite NEVER stops. Maybe it will stop when Obama and his ilk ruin the US. Then, he and his ilk will be the ruling class so it is all good from their perspective. I don't see any royalty or uber upper class people here, so you guys are going down and you are too ignorant to know it.
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Passion, Lust, Desire. Check out my journal
http://www.mychristianpsychic.com/
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katatonic
Knowflake Posts: 7785
From:
Registered: Apr 2009
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posted March 31, 2012 03:18 PM
those companies have been moving out for decades now, because the regulations making it more difficult for them to do so were demolished.to lay the multinationals at obama's feet is pure craziness. he hasn't been in politics long enough to have created that situation! IP: Logged |
AcousticGod
Knowflake Posts: 5871
From: Pleasanton, CA
Registered: Apr 2009
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posted March 31, 2012 05:24 PM
quote:
I don't need to sell anything acoustic. Your argument lacks any merit whatsoever.
Apparently you do. Anyone can see the unnecessarily dramatic way that you post. quote:
Anyone with an ounce of common sense knows exactly why businesses have been and still are fleeing the United States or moving large parts of their operations offshore.
No. Anyone can see that big business still resides in America as it always has despite the corporate tax rate. It's not the tax rate that's making companies go overseas. It's cheap labor. That said, there are tax strategies for moving the money between nations to prevent certain taxation, and Conservatives should propose that these loopholes get closed just as Obama has. quote:
It's exactly the same reason California, New York, Michigan and some other states are business wastelands.
Business wasteland? California? Are we being dramatic again?
http://www.usgovernmentrevenue.com/federal_revenue_by_state.php
2011:
California Business Income Tax: 35.1 billion
New York Business Income Tax: 21.5 billion
Florida Business Income Tax: 5.6 billion Only Michigan is doing worse than Florida in your list. quote:
to lay the multinationals at obama's feet is pure craziness. he hasn't been in politics long enough to have created that situation!
Very true! People have been complaining about globalization for at least a decade. IP: Logged | |
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