Great Depression of 2016

[rufus]

Well, let's see how this works out. http://www.ft.com/cms/s/0/55a76778-c294-11e3-9370-00144feabdc0.html#axzz2yoX8eOfU

If it happens, they would only pay taxes on the earnings of the US subsidiary. This may be the beginning of the end of the era of excessive corporate taxes.

 

[EweSheep]

That link showed me that we have to pay to gain access to the link to that e-newspaper article.

 

[rufus]

Oh, sorry about that. Here is a link to another article from the Chicago paper. Hopefully, it will work for you. http://articles.chicagotribune.com/...ope-20140414_1_walgreen-co-tax-rate-tax-deals

As more and more stock of what are considered US companies pass into foreign hands, the new foreign stock holders see no reason to pay excessive corporate taxes to support the US government's wasteful ways and expensive social programs. By moving their incorporation abroad, they then only pay US taxes on income earned in the US. That earned abroad is taxed at the local rate, which is usually much lower.

Notice how Caterpillar saved 2.4 billion dollars by switching their parts operation to Switzerland. But in the process, Ewesheep's husband was laid off. Foreign investors really couldn't care about the US work force.

We lost our industrial base, and now we are losing the business end. I don't know how it will work out, but I suspect it will not be good for us.

 

[frenchblackcopper]

Wow,havn't checked this thread in weeks,I actually thought it would be taken down by now.

 

[rufus]

Why would they take it down? Our ability to change the situation is nil, however, we can perhaps protect ourselves somewhat from what is occurring.

 

[WooingWyandotte]

Posting to keep up.

 

[EweSheep]

Oh, sorry about that. Here is a link to another article from the Chicago paper. Hopefully, it will work for you. http://articles.chicagotribune.com/...ope-20140414_1_walgreen-co-tax-rate-tax-deals

As more and more stock of what are considered US companies pass into foreign hands, the new foreign stock holders see no reason to pay excessive corporate taxes to support the US government's wasteful ways and expensive social programs. By moving their incorporation abroad, they then only pay US taxes on income earned in the US. That earned abroad is taxed at the local rate, which is usually much lower.

Notice how Caterpillar saved 2.4 billion dollars by switching their parts operation to Switzerland. But in the process, Ewesheep's husband was laid off. Foreign investors really couldn't care about the US work force.

We lost our industrial base, and now we are losing the business end. I don't know how it will work out, but I suspect it will not be good for us.

I remember hubby said a lot of the parts he did ARE going to Switzerland. Beautiful country but I don't think they are close to large bodies of water to assemble large tractors.

 

[rufus]

They can build them, but shipping would be a problem. They probably would pass through the Gotthard Tunnel and then be shipped from Italy. Those parts can be made anywhere in the world, but the profits would be taken in Switzerland and taxed at a much lower rate.

The hostile environment toward business in this country is going to put us all on the dole. When the powers that be say that "the private sector is doing just fine," I suspect there is a perception problem. If one comes from a community that is used to living off of the welfare state, they might not be aware that those who pay the taxes and do the work are stressed. But more likely, they simply do not give a dooley.

Sad to say.

 

[hemet dennis]

They can build them, but shipping would be a problem. They probably would pass through the Gotthard Tunnel and then be shipped from Italy. Those parts can be made anywhere in the world, but the profits would be taken in Switzerland and taxed at a much lower rate.

The hostile environment toward business in this country is going to put us all on the dole. When the powers that be say that "the private sector is doing just fine," I suspect there is a perception problem. If one comes from a community that is used to living off of the welfare state, they might not be aware that those who pay the taxes and do the work are stressed. But more likely, they simply do not give a dooley.

Sad to say.

I would still like someone to tell me why we have a corporate tax. Who much do you think corporations pay in taxes ?

 

[rufus]

Dennis, it is because they can. The governments want the money, and they don't care about the people. I was going to cut and paste this display, but it was too much. I will post the address instead. http://www.kpmg.com/global/en/servi...esources/pages/corporate-tax-rates-table.aspx

You will see that the best places to have your enterprise domiciled and taxed are Guernsey, Isle of Man and the Caymans.

I think if corporations have to pay taxes on their earnings, then the dividends paid to the stock holders should be tax free. I also think that interest earned on savings accounts should be tax free. We don't get enough interest to cover the cost of inflation, and then we have to pay taxes on what little we do get.

The world is infected and infested with people that think that everyone else has it better than them. Greed and jealousy are the root of class hatred. That attitude combined with indolence and ignorance is resulting in a hateful attitude toward business and anyone perceived as having a better time in this life.

Certain politicians play this like a violin. They pit those that work and produce against the lazy, jealous and ignorant. Chavez and Castro were masters at this. We have some pretty good ex community organizers in this country that also are very good at it.