boltsfan17 wrote: »
The problem today is the government really isn't representing the people that vote them into office. There are just too many special interest groups involved in the government.
Democrats lost because of all the lies like keeping your health care provider and not doing anything in other areas.
Will the Republican controlled congress do better? We will see, but I imagine it's going to be the same ole politics going on thats ruining this country. I just wish I knew what the answer is to fix the mess in DC.
Edit: If you really think about it, I think the answer is this country needs to be ran like a business. I think that could potentially solve many problems.
I'm very confused by this. That money was earned overseas. Why does the US feel entitled to a portion of it? That sense of entitlement is what is out of control. If the US removed repatriation tax entirely, allowed foreign funds to be brought into the country tax-free, then guess what – that money would be IN the country, spent IN the country, and a portion of that spent money would be given to the government in the form of taxes. To tax the simple transfer of money is insanity! I would never pay my bank a fee to transfer money from one account to another.
This reminds me of the fee charged by AirMiles (Canadian points program) of 15¢ per mile to transfer the funds from one account holder to another. It's a form of double-dipping.
I really don't know what I'm talking about, but this world is out of control. Too many rules, too many laws. The problem with that is there's no end to the cycle... there's never an end-game. Someone always loses.
If there's going to be a tax charged for moving money from one country to another, it should be applied by the country currently housing the money... not the country receiving the money. That's just so backwards! The US should remove all barriers to money flowing INTO their borders. I seriously don't understand a repatriation tax, or even why this is called repatriation. Does the US think the money somehow originated in the US and now they need to bring it back? Oh, give me a break! There's over 200 other countries on this planet.
koop wrote: »
Same ol talking point that I hear every time we think about raising taxes, minimum wage etc etc. "Just let a business operate as it sees fit. Free to pay unlivable wages,
no taxes and that'll keep the economy going strong.
I mean, with all that profit i'm sure they'll get around to raising wages and hire more people...soon." And it's the same shit, every election cycle with this. The same exact Republican talking point. We can never raise taxes, we can never impose taxes and we should never raise the minimum wage.
40 years of wage stagnation but we'll i'm sure if we just keep taxes low, subsidies, and loopholes for just a teensy bit longer I'm sure all these rich corporations and their executives will shower money back into the middle class. Whatever is left of it.
Who am I kidding, keeping the iPhone at the affordable $650 price tag seems like the better bet.
SpamSandwich wrote: »
I see. You neglected to mention that important detail.
tcasey wrote: »
So whats the solution ?
solipsismy wrote: »
1) You think people are poor because they are lazy? The hardest workers I've ever met are the poorest people I've ever come in contact with. This is true all over the world.
2) What about those that can't work?
Should be just euthanize all of them?
They just leaching off your hard earned tax money, right?
Actually I will say that corporations should not pay tax, because in reality they don't at all now. Where do people think that corporations get their money? Eventually that money flows from people who buy the products. So say product X is made from Parts A,B, and C, a corporation buys those parts from other companies, paying tax each time, that is just built in to the price we pay for that product and of course are taxed again for when we buy it. Why do people not understand that more taxes for corporations just mean that the prices of their products go up and we pay more for them?
I fail to see how the US can tax corporations that aren’t US corporations.
Well if we have learned anything from the Obama administration it is that the US Constitution and US laws really don't play a role in anything they do.
No other country taxes its corporations (or citizens) on income earned outside that country. So the deferred 35% US tax on overseas income is nothing more than a strong incentive for US companies to avoid investment in the US. Which is terrible. Obama's "solution" is to remove the ability to defer the tax, while reducing the rate to teen digits. The currently competing bill reduces this to around 6%, essentially reversing the incentive to encourage US companies that are profitable overseas to reinvest their profits in US investment.
However, keep in mind that South Korea only charges Samsung an effective tax rate of <5%. When Samsung sells a Note 4 in the US, those profits are essentially not taxed by South Korea. When Apple sells an iPhone 6 in Korea, it pays Korean income tax (higher than Samsung's) and then is expected to pay the difference up to 35% to the US.
A huge windfall of corporate holdings tax would certainly make it more attractive to start a new war, if 2016 ushered in a war-hawk president.
Also noteworthy that Apple has set aside most the money to pay (apparently) the full 35% taxes on its cash, so if that % were reduced in half it wouldn't even need to restate how much cash it has, because it has already accounted for payment.
What Tim Cook actually asked for was a comprehensive simplification of the US tax code to make it fair, even if it would result in higher taxes for Apple. What's being proposed by Congress and the President is a short term bandaid to supply some money for the highway fund before it RUNS OUT this summer.
Meanwhile, China is rapidly building infrastructure that will enable growth and prosperity, while the US is inventing new controversy about whether bridges should be allowed to fall down and whether vaccines should be required in public schools. Another ten years of Fox News and the USA will be a dust bowl with a flammable water table ringed by coastal cities that generate all the remaining economic activity.
I'm aware Apple pays a lot of taxes, and I'm also aware of the massive legal tax dodges multinationals use to avoid paying what they really owe. Let's read some Bloomberg: http://www.bloomberg.com/news/articles/2010-12-29/dodging-repatriation-tax-lets-u-s-companies-bring-home-cash
Honestly if you think the reason people are poor is because there lazy its because of 2 reasons ..
1. you don't understand business and capitalism and should not talk about it and spread lies.
2. or your so f+cking lazy and/or you get your news from Faux News...and hence your a moron.
you only have to look at how in the state of nevada alone...since 2008 that the top 1 percent earned 51 percent more and the bottom 99 percent dropped 17 percent...it had nothing to do with how hard they worked....it's because the system is rigged and it will continue.
http://www.epi.org/publication/unequal-states/ <----- More stats to review....
Who paid for the roads,staff and education and ability for the u.s corporation's to do business here and overseas....tax payers...why should someone who works for a living making min monies pay more taxes then a billion dollar corporation ...
the problem is they know who got them elected its the corp monies...90 percent of elections are one by people with more monies...remove the monies and then people will have a loud voice and not corporations.
Because it's not true...corp don't pay taxes now and they don't pay people more to work for them or drop the prices of there services/products...the idea that corporations and shareholders of those corp pay no taxes and poor people then pay for the infrastructure in society to help these corporations is obsurd.
Someone explain why the US government has the right to tax earnings outside of the country? How about we develop fair business policy that incentivizes companies to bring that hard earned money back into the US to reinvest...or would that actually make too much sense???
This comment reflects a stunning ignorance on your part. This ignorance is one of what motivates business and how it behaves, as well as the effects on economic activity high tax rates have.
Corporations are certain to do one thing: Act in their own self-interest. You can tax them and regulate them all you want, but it is in their very nature to make as much money and find as many loopholes as possible. This is not evil, it is just reality. The problem here is that you're advocating for government to force corporations to behave a certain way, which is impossible. It is very difficult to force anyone or any organization to anything.
Once governments stop treating taxation as behavior modification and get back to raising revenue for needed services, things get much better. A low, flat tax rate on all profits reduces the incentive and ability of corporations to cheat. That's the answer...removing the incentive to shelter, not punishing or vilifying those who do. Moreover, you clearly don't realize that, in the final analysis, corporations don't pay taxes. People pay taxes.
Of course, the above is all moot, since Congress will never pass such a tax plan.
Let's be honest, this has ZERO chance of passing with a Republican lead House and Senate. Obama is probably putting this in there so the House and Senate will shoot it down and then he can say,"See, the Republicans only care about protecting the wealth of the big businesses."
Hey, you notice how things are getting unbalanced, and the middle class is being destroyed!? Guess who's fault that is! Progressivism! It's not that hard to understand!