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View Full Version : Harry Reid's Big Business Tax Cut



Green Arrow
06-13-2014, 10:38 AM
Via Politico (http://www.politico.com/story/2014/06/harry-reid-tax-cut-senate-107829.html)


A proposal from Senate Majority Leader Harry Reid to give Big Businesses a major tax cut this election year is roiling lawmakers and not along the usual party lines.

The Democratic leader is pitching to give multinational corporations a tax holiday on trillions of dollars in profits they've stashed overseas, a plan aimed at boosting the economy while simultaneously helping fill a $10 billion budget hole in the government's ailing highway trust fund. His proposal has the backing of an eclectic group of supporters including libertarian Sen. Rand Paul (R-Ky.) and California Democrat Barbara Boxer, who's long pushed for such a break.

I thought Republicans were the ones that were all about supporting big business?

Perianne
06-13-2014, 10:42 AM
Via Politico (http://www.politico.com/story/2014/06/harry-reid-tax-cut-senate-107829.html)



I thought Republicans were the ones that were all about supporting big business?

Do you agree with it?

Green Arrow
06-13-2014, 10:47 AM
Do you agree with it?

The tax cut?

Perianne
06-13-2014, 10:47 AM
The tax cut?

Yes.

Green Arrow
06-13-2014, 10:48 AM
Yes.

I don't have an opinion on it just yet. I haven't had the chance to evaluate it, but it sounds bothersome.

hanger4
06-13-2014, 12:38 PM
Wouldn't it be simpler to remove the incentive to move the profits off-shore ??

darroll
06-13-2014, 01:03 PM
Wouldn't it be simpler to remove the incentive to move the profits off-shore ??It's that we love big business so much. Big business makes money screwing the poor remember?

Blackrook
06-13-2014, 03:50 PM
Even a stopped watch is right twice a day. The government shouldn't be creating perverse incentives for corporations to move assets to off-shore accounts. If this money is taxed at a lower rate, the government will actually increase its revenue if the story is accurate.

Mainecoons
06-13-2014, 09:43 PM
It is not so much "moved offshore" as made offshore and not brought home because of the ridiculous corporate taxes of the U.S., highest in the world.

The business itself is moved off shore to get away from all manner of onerous tax, regulation and discouragement of hiring U.S. workers due to same. None of that would be fixed by Dirty Harry's bill. To really fix what is driving jobs overseas would involve massive repeal of control freak government in America.

Not going to happen.

zelmo1234
06-13-2014, 09:57 PM
Well I can finally support something that Dingy Harry is proposing!

This would provide a huge stimulus to the economy

texan
06-13-2014, 10:41 PM
We did this once before and they didn't invest the money as we had hoped. Just talking points.

But I get your point, he needs some money and is cuttting a deal probably for unions.

zelmo1234
06-15-2014, 07:48 AM
We did this once before and they didn't invest the money as we had hoped. Just talking points.

But I get your point, he needs some money and is cuttting a deal probably for unions.

I don't ever remember them doing this before? Do you remember when they did it!

Now there is over 2 trillion sitting off shore that sure could help!

donttread
06-15-2014, 08:53 AM
Via Politico (http://www.politico.com/story/2014/06/harry-reid-tax-cut-senate-107829.html)



I thought Republicans were the ones that were all about supporting big business?

You thought wrong, both "major parties" are corporate whores and both are big government as well. Watch their actions, not their meaningless words.