Obama busts a biggie tax dodger

[AZ Jim]

They thought they had a plan to rip off the USA on taxes just as easily as they do the ill who need their products. Thank you Mr. President.

http://thinkprogress.org/economy/2016/04/06/3767056/pfizer-pays-150-million-escape-merger/

[FindersKeepers]

Now, if he could just get the tax cheats in his own Administration to pay up.

http://www.investors.com/politics/andrew-malcolm/obama-white-house-staff-back-taxes/

I know -- I know...fat chance, right?

[Ethereal]

Was it Charlie Rangel?

[MisterVeritis]

Sharpton?

[Tahuyaman]

No one was "busted" here as the OP claims. A tax shelter was simply eliminated.

The tax code is so convoluted and complicated, they will find another way.

[Peter1469]

Two nations tax business income earned overseas. The US and Uzbekistan. Simpletons don't get it.

[Tahuyaman]

Two nations tax business income earned overseas. The US and Uzbekistan. Simpletons don't get it.


And the only two nations with a higher corporate tax rate than the US are third world shit-holes.

[Peter1469]

Stop taxing business. Watch America grow.

[Crepitus]

Two nations tax business income earned overseas. The US and Uzbekistan. Simpletons don't get it.
Thus isn't about monies earned overseas, it's about hiding money earned here.

[Peter1469]

Thus isn't about monies earned overseas, it's about hiding money earned here.


Untrue. The issue is the money earned overseas. When it is brought back to the US it gets taxed at 35%. Business says no. I don't blame them.

[Crepitus]

Untrue. The issue is the money earned overseas. When it is brought back to the US it gets taxed at 35%. Business says no. I don't blame them.

First, ain't a business in the USA actually paying that 35%.

Second, inversions are for moving money earned in the US out of the government's reach for purposes of evading taxes.

[Captain Obvious]

First, ain't a business in the USA actually paying that 35%.

Second, inversions are for moving money earned in the US out of the government's reach for purposes of evading taxes.

A theory is that the tax is passed on to the consumer and not the shareholder, which is probably arguably true.

Taxing distributions is just shuffling the shells.

The stronger argument is that corporate taxes make it more difficult for domestic companies to compete globally.

[Peter1469]

First, ain't a business in the USA actually paying that 35%.

Second, inversions are for moving money earned in the US out of the government's reach for purposes of evading taxes.

Incorrect.

Many businesses do pay the full 35%. Others have legal deductions.

But any business who has overseas money will pay 35% to bring it back. That is why over $1T is overseas and not here.

You have the result of tax inversions correct. But the cause wrong.

A simple change to the tax code would end this. The hard left refuses to do it. Why?

[Crepitus]

Incorrect.

Many businesses do pay the full 35%. Others have legal deductions.

But any business who has overseas money will pay 35% to bring it back. That is why over $1T is overseas and not here.

You have the result of tax inversions correct. But the cause wrong.

A simple change to the tax code would end this. The hard left refuses to do it. Why?

Tiny business like mine actually pay closer to the tax rate than the big ones with more resources so yes, some do. I was referring specifically to giant mega corps and I should have made that clear.

If the purpose is to avoid double taxing by 2 separate governments I can see the point. I was not aware that was the case, not being an international businessman.

[del]

Incorrect.

Many businesses do pay the full 35%. Others have legal deductions.

But any business who has overseas money will pay 35% to bring it back. That is why over $1T is overseas and not here.

You have the result of tax inversions correct. But the cause wrong.

A simple change to the tax code would end this. The hard left refuses to do it. Why?
that pesky hard left.

they just mess it up for everyone, don't they?

and the sneaky bastards have everyone thinking the cons control both houses.

tricksee leftists, ain't they?








seek professional help

[Dr. Who]

Untrue. The issue is the money earned overseas. When it is brought back to the US it gets taxed at 35%. Business says no. I don't blame them.
Because they should be rewarded for offshoring? Then they can have all of the advantages and none of the disadvantages of keeping their money in US banks. It probably doesn't matter anyway, since the banks are globalist enterprises now, so the money stored offshore still finds its way into the US lending system.

[michiganFats]

Coming soon, Pfizer moves to Panama and tells Obama to go screw himself.

[Tahuyaman]

Stop taxing business. Watch America grow.

This is where liberals expose thier true motives. If the corporate tax was eliminated and tax rates lowered across the board, the economy would grow at a pace never seen before resulting in an expanding tax base and revenues flooding in to government.

Their unwillingness to reform the tax code in any way other than increasing rates on the achievers tells me that they don't view taxation as simply a way to fund essential government functions.

They view taxation as a way to create so called fairness and redistribute wealth. For the left, taxation is used for social engineering purposes.

[Tahuyaman]

Because they should be rewarded for offshoring? .

Why do you suppose they go offshore to begin with? Don't you think it would be prudent to reform the tax code so that won't be an incentive any longer?

[Dr. Who]

Why do you suppose they go offshore to begin with? Don't you think it would be prudent to reform the tax code so that won't be an incentive any longer?
That might be fine if taxing personal income were not a case of ever diminishing returns. If you remove the business tax on industry, they will come back, but they won't really hire many people. In the circumstances, they will simply and for the most part switch to industrial robots to do what third world labor is doing. So they will keep most if not all of their profits, but that won't translate to jobs, it will translate to equipment which they can depreciate on whatever is left of their taxes. In the time since offshoring began, industrial robots have taken over in most manufacturing. It might help with bringing back call-centers from places like India.

[Mini Me]

Stop taxing business. Watch America grow.

Wont happen Pete!

They will just bank the excess profits and send more jobs and plants overseas!Its what they always do!

Why do you people have to pimp for the corporate whores? Do they need your help, because they are poor?
Hardly! Its about time you folks stuck up for labor and the workers! The Globalists goal is for world wide slavery and control of all assets!

[Mini Me]

This is where liberals expose thier true motives. If the corporate tax was eliminated and tax rates lowered across the board, the economy would grow at a pace never seen before resulting in an expanding tax base and revenues flooding in to government.

Their unwillingness to reform the tax code in any way other than increasing rates on the achievers tells me that they don't view taxation as simply a way to fund essential government functions.

They view taxation as a way to create so called fairness and redistribute wealth. For the left, taxation is used for social engineering purposes.


The less taxes the big corps pay, the more they have to tax the little guy! Who do you think is writing tax code? Its the corporations! Duhhhhh!

Are you a lobbyist for the corps? You sound like it!

[Tahuyaman]

The less taxes the big corps pay, the more they have to tax the little guy! Who do you think is writing tax code? Its the corporations! Duhhhhh!

Are you a lobbyist for the corps? You sound like it!

cluelessness is the new normal.

[AZ Jim]

cluelessness is the new normal.Yes, but we forgive you.

[Tahuyaman]

Senility is a horrible affliction. I have pity upon you.

[Peter1469]

Wont happen Pete!

They will just bank the excess profits and send more jobs and plants overseas!Its what they always do!

Why do you people have to pimp for the corporate whores? Do they need your help, because they are poor?
Hardly! Its about time you folks stuck up for labor and the workers! The Globalists goal is for world wide slavery and control of all assets!

Bringing business back to the US is standing up for the workers. It is also anti-globalist.

Win-win.

[Mini Me]

Bringing business back to the US is standing up for the workers. It is also anti-globalist.

Win-win.

But I don't see any of that happeneing! Do you?

[Peter1469]

But I don't see any of that happeneing! Do you?

Some. Change our tax code and see a lot more.