Legislation Aims to Keep Firms From Leaving U.S. for Tax Savings

[Ethereal]

Legislation Aims to Keep Firms From Leaving U.S. for Tax Savings (http://blogs.wsj.com/washwire/2014/05/20/legislation-aims-to-keep-firms-from-leaving-u-s-for-tax-savings/)

By JOHN D. MCKINNON

(Wall Street Journal Online) - Lawmakers will unveil bills on Tuesday to keep major corporations from leaving the U.S. for tax purposes, but the legislation probably won’t be enacted quickly enough to prevent more such exits, experts say.

It might even accelerate a few departures.

Congressional aides, lawyers and other advisers say talk of corporate exits – known as inversions – is growing, in the wake of several recent deals that have taken major U.S. firms offshore.

So, instead of fixing the problem - high taxes and too much regulation - politicians in DC decide to make it worse by passing more regulations.

[Mainecoons]

Exactly. Police state America.

Progressivism come full circle.

[Paperback Writer]

As an outsider you have my condolences.

[Mainecoons]

Hey, I'll bet you can't guess which political party the geniuses who came up with idea are with.

Hint: The first letter is a "D."

Same bunch who came up with ObombedItCare.

Damn, what a surprise.

[Alyosha]

So, instead of fixing the problem - high taxes and too much regulation - politicians in DC decide to make it worse by passing more regulations.


Belize, booboo. Belize.

[Mainecoons]

No, Belize has caved in to the IRS Nazis. No sanctuary there.

[Alyosha]

No, Belize has caved in to the IRS Nazis. No sanctuary there.

Since when??? I thought it was only Switzerland.

[Montoya]

Benghazi more extremists. Your poor struggling millionaires and billionaires will be paying up.

[Refugee]

Why are you all surprised? The bottom line is they're trying to prevent major tax payers and employers from leaving as without them your Socialist Welfare State collapses. It's a bit drastic though, a bit like an invisible Berlin wall?

[Common Sense]

Trying to make corporations pay their taxes???? How dare they??!!! Who the fuck do they think they are???

[Paperback Writer]

Trying to make corporations pay their taxes???? How dare they??!!! Who the fuck do they think they are???

According to the OP, they are actively preventing companies from moving away from the US. That's entirely different than forcing them to pay taxes by reeling in their offshore accounts.

[Refugee]

Trying to make corporations pay their taxes???? How dare they??!!! Who the fuck do they think they are???

They're not trying to make them pay, they already are. I believe the op is about trying to prevent them leaving and so not having to pay. The 'Land of the free' and all that? Immigrants are free to leave, but not those paying for them?

[Paperback Writer]

They're not trying to make them pay, they already are. I believe the op is about trying to prevent them leaving and so not having to pay. The 'Land of the free' and all that? Immigrants are free to leave, but not those paying for them?

Why is it that we're not more gleeful about their falling apart and instead feel a bit sad?

[Refugee]

Why is it that we're not more gleeful about their falling apart and instead feel a bit sad?

It is sad. Some are that dozy they don’t even think they’ve got socialism. Land grabs, mass welfare, businesses prevented from leaving to pay for it . . . and then they complain about the increasing power of the State.

[Ethereal]

Trying to make corporations pay their taxes???? How dare they??!!! Who the fuck do they think they are???

You mean pay more taxes than they already do, on profits that are made and kept overseas?

[zelmo1234]

Benghazi more extremists. Your poor struggling millionaires and billionaires will be paying up.

So do how many do you think will leave if they actually pass this law?

Democrats are so stupid. Next they will pass a law that keeps people from closing their business.

So If I can't move my business, I close it, travel to the new Destination. Such as Grand Cayman! open a business and then open an office in the USA

Now the USA brand office would need to Pay taxes on the profits generated in the USA!

However the home office in Grand Cayman that does nothing charges a huge administration fee that take 99% of the profits and transfers then to Grand Cayman at the 11% tax rate!

The `1% of profits you pay USA corporate taxes at the 25% the highest rate in the world?

So Democrats? How are you going to stop this, even with the new law?

[donttread]

So, instead of fixing the problem - high taxes and too much regulation - politicians in DC decide to make it worse by passing more regulations.

A consumption tax would fix that and a lot of other things as well

[patrickt]

Leftists won't secure the borders to keep people out but they certainly will to keep them in.

[Ethereal]

A consumption tax would fix that and a lot of other things as well

A national consumption tax would just be another nightmare. The federal government is a failed institution. It has to be fundamentally restructured via a constitutional convention or amendment.

[lynn]

NAFTA approved by the government was the gateway for businesses to leave the country and now they want to stop them from doing it. I am so sick of this corruption going on and we can't do nothing about it to change it.

[Chris]

The result of this action will either raise prices or lower quality. Simple law of supply and demand.

Hayek was correct: "The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design."

[Peter1469]

There is an international push to create a global body to control this sort of thing.


So do how many do you think will leave if they actually pass this law?

Democrats are so stupid. Next they will pass a law that keeps people from closing their business.

So If I can't move my business, I close it, travel to the new Destination. Such as Grand Cayman! open a business and then open an office in the USA

Now the USA brand office would need to Pay taxes on the profits generated in the USA!

However the home office in Grand Cayman that does nothing charges a huge administration fee that take 99% of the profits and transfers then to Grand Cayman at the 11% tax rate!

The `1% of profits you pay USA corporate taxes at the 25% the highest rate in the world?

So Democrats? How are you going to stop this, even with the new law?

[The Sage of Main Street]

You'll always miss the point if you think that people in high positions deserve to be there and can only be criticized for their morality, never for their competence. The reason they can't handle regulations is that they are Low IQs. An intelligent leader should be able to overcome even unnecessary regulations, just as he should be expected to overcome bad luck. Proof that even Bootlickers of the Bosses know that their Masters are inferior is that they would never ask a high school honor student, "What are you going to major in when you get to college? Business Administration?"

The fantasy that there is such a thing as Leadership IQ that would make that proof irrelevant indicates a mandated misunderstanding of what intelligence is. The fact that incompetence is not considered to a cause of greed is a practical proof that it is. The only way the dumb can make a profit is by cheating.

Why else would critics avoid questioning the right of these people to their jobs? Because the critics themselves get their jobs the same way: by conformity and flattery.

[zelmo1234]

There is an international push to create a global body to control this sort of thing.

Yes but in order to do that you have to have every nations cooperate? And if they do? then what if the rich just take there ball and go home?

Can the world handle a world wide depression with unemployment in the 33% range?

If the USA is serious about companies not leaving for tax reasons? then fix the tax code so companies don't have to leave to compete with the imports or add a 20% tariff on imports?

The problem is not the companies it is the system.

[zelmo1234]

You'll always miss the point if you think that people in high positions deserve to be there and can only be criticized for their morality, never for their competence. The reason they can't handle regulations is that they are Low IQs. An intelligent leader should be able to overcome even unnecessary regulations, just as he should be expected to overcome bad luck. Proof that even Bootlickers of the Bosses know that their Masters are inferior is that they would never ask a high school honor student, "What are you going to major in when you get to college? Business Administration?"

The fantasy that there is such a thing as Leadership IQ that would make that proof irrelevant indicates a mandated misunderstanding of what intelligence is. The fact that incompetence is not considered to a cause of greed is a practical proof that it is. The only way the dumb can make a profit is by cheating.

Why else would critics avoid questioning the right of these people to their jobs? Because the critics themselves get their jobs the same way: by conformity and flattery.

Ok Wily E Coyote (Super Genius)

Say that you sell Refrigerators. You want to sell your step up model for 699.00 And you have a profit of 120.00

But they raised you taxes by 8% So you now only have $110.40

And they raise the minimum wage by $3 so you have to raise your Union workers wages by $3 so you lose another 10% $99.36

The state that you manufacture in adopts a Green energy policy that ads 30% to your energy costs. another 5% $94.39

The ACA passes so you now have to pay a luxury tax because you offer good healthcare through the Union 15% $80.23

And now you competitor imports a model that looks just like yours but sells for 599.00? And has a 2 year warranty which would cost you $30 per unit
Brining your net profit down to 50.23 if you can convince the consumer that it is worth $100 dollars more for about the same thing?

50.23 would see your stock prices drop by 3% which is not acceptable to the share holders?

Use your smarts and tell me how you are going to keep your market share and profits, and not price yourself out of the market place?

I will be waiting! bye the bye there are 3 answers

[darroll]

Whats the matter, this country has found out corporations hire people?
Naw, hate your local CEO.