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Started By
Message
I'm generally a free market guy, but this is crazy
Posted on 3/14/17 at 1:03 pm
Posted on 3/14/17 at 1:03 pm
LINK
Almost $250B in cash, most of it they have placed in long term investments overseas so they don't have to pay taxes on it?
I'd like to see when Congress enacts their new tax reforms for companies to be required to pay taxes on that money whether they bring it back into this country or not, with a lower rate if they bring it back and invest it here than if it remains overseas.
No company should essentially be allowed to avoid paying any taxes on that kind of income.
Almost $250B in cash, most of it they have placed in long term investments overseas so they don't have to pay taxes on it?
I'd like to see when Congress enacts their new tax reforms for companies to be required to pay taxes on that money whether they bring it back into this country or not, with a lower rate if they bring it back and invest it here than if it remains overseas.
No company should essentially be allowed to avoid paying any taxes on that kind of income.
17
Posted on 3/14/17 at 1:08 pm to HeyHeyHogsAllTheWay
quote:
I'd like to see when Congress enacts their new tax reforms for companies to be required to pay taxes on that money whether they bring it back into this country or not, with a lower rate if they bring it back and invest it here than if it remains overseas. No company should essentially be allowed to avoid paying any taxes on that kind of income.
I agree with you, but don't hold your breath waiting for Congress to fix this situation. If anything, corporations will end up getting even bigger tax breaks and loopholes from this Congress.
Posted on 3/14/17 at 1:10 pm to HeyHeyHogsAllTheWay
The problem is not the free market. That's what college libertarians don't get.
The problem is the economic incentives of our global and national market dis-incentivize Apple from moving the money back to the USA. We don't have a free market right now, and Apple is taking advantage of laws and regulations put in place to protect the exact thing that they are doing.
A closer approximation of a free market would be if we charged a border tax for any product imported, and forwent a corporate income tax altogether for any income made overseas and brought into the USA.
The problem is the economic incentives of our global and national market dis-incentivize Apple from moving the money back to the USA. We don't have a free market right now, and Apple is taking advantage of laws and regulations put in place to protect the exact thing that they are doing.
A closer approximation of a free market would be if we charged a border tax for any product imported, and forwent a corporate income tax altogether for any income made overseas and brought into the USA.
Posted on 3/14/17 at 1:11 pm to HeyHeyHogsAllTheWay
No tax on any company. Only long term answer.
WTO says hi.
WTO says hi.
Posted on 3/14/17 at 1:12 pm to HeyHeyHogsAllTheWay
If American citizens living abroad have to pay taxes, then these companies should have to pay them on that $$ stashed overseas as well.
Posted on 3/14/17 at 1:13 pm to TigersFan64
quote:
I agree with you, but don't hold your breath waiting for Congress to fix this situation. If anything, corporations will end up getting even bigger tax breaks and loopholes from this Congress.
GOOD.
Except, those tax breaks should be designed to incentivize corporations to do the opposite of what Apple is doing. You lefties who think you can generate economic prosperity by destroying corporations are more concerned with punishment of perceived wrongs than genuinely looking to understand why corporations do what they do.
You're the drunken alcoholic father who doesn't care why his kid is getting in trouble, your solution is to take your child corporations home and beat them until you feel better.
Posted on 3/14/17 at 1:14 pm to AggieDub14
quote:
If American citizens living abroad have to pay taxes, then these companies should have to pay them on that $$ stashed overseas as well.
So you agree with the interpretation that corporations equal people?
You can't have it both ways. Either corporations have the rights and responsibilities of people or they don't.
Posted on 3/14/17 at 1:20 pm to HeyHeyHogsAllTheWay
quote:
LINK
Almost $250B in cash, most of it they have placed in long term investments overseas so they don't have to pay taxes on it?
I'd like to see when Congress enacts their new tax reforms for companies to be required to pay taxes on that money whether they bring it back into this country or not, with a lower rate if they bring it back and invest it here than if it remains overseas.
No company should essentially be allowed to avoid paying any taxes on that kind of income.
The U.S. is pretty much the only major economy that taxes overseas profits. That money will never come back to the U.S. if you try to enact something like that - Apple would rather reincorporate in another country than remain an American company and have its $200B double taxed.
Also, that shite would never fly with the WTO.
Posted on 3/14/17 at 1:20 pm to HeyHeyHogsAllTheWay
quote:
Almost $250B in cash, most of it they have placed in long term investments overseas so they don't have to pay taxes on it?
I'd like to see when Congress enacts their new tax reforms for companies to be required to pay taxes on that money whether they bring it back into this country or not, with a lower rate if they bring it back and invest it here than if it remains overseas.
No company should essentially be allowed to avoid paying any taxes on that kind of income.
So they are making money off of investments in other countries and you want them to pay taxes on it here?
How does that make sense? Sounds like your answer is "they have too much money."
Posted on 3/14/17 at 1:23 pm to AggieDub14
quote:
If American citizens living abroad have to pay taxes, then these companies should have to pay them on that $$ stashed overseas as well.
Then they will move operations overseas. You need to make the US competitive on taxes for corporations not more restrictive.
If a company pays taxes in another country where they operated and made money, you think they should also pay the same tax rate to the US?
Posted on 3/14/17 at 1:23 pm to cokebottleag
quote:
GOOD.
The only "good" thing about it is that you lying conservatives won't be able to blame anyone but yourselves when the federal deficit explodes in size even greater than what it is now. And when you saddle the country with trillions of dollars of more debt for future generations to pay for, it will be rightfully pointed out that it was the Republican-controlled Congress who did it. And now, cue your idiotic "supply-side" economics horse-hockey theory.
Posted on 3/14/17 at 1:25 pm to TigersFan64
quote:
The only "good" thing about it is that you lying conservatives won't be able to blame anyone but yourselves when the federal deficit explodes in size even greater than what it is now. And when you saddle the country with trillions of dollars of more debt for future generations to pay for, it will be rightfully pointed out that it was the Republican-controlled Congress who did it. And now, cue your idiotic "supply-side" economics horse-hockey theory.
Besides your ill-informed rant, do you understand how this would actually go down? Do you understand why it's stupid to double tax these companies? Why Apple keeps billions in securities overseas? What would happen if we "forced" Apple and the like to try and repatriate those securities?
Something tells me that you don't.
Posted on 3/14/17 at 1:29 pm to AggieDub14
quote:
If American citizens living abroad have to pay taxes, then these companies should have to pay them on that $$ stashed overseas as well.
So, if Trump succeeds in lowering corporate taxes and foreign companies come flooding into the US and create lots of jobs then you believe that the countries they left should tax them as expatriots to prevent them from coming to the US and creating US jobs???
Posted on 3/14/17 at 1:29 pm to TigersFan64
quote:
The only "good" thing about it is that you lying conservatives won't be able to blame anyone but yourselves when the federal deficit explodes in size even greater than what it is now.
Obama and the left are proof, ya'll have no idea how to grow the GDP all you know know is tax, tax, tax, and that is proven not to be the answer...
This post was edited on 3/14/17 at 1:31 pm
Posted on 3/14/17 at 1:34 pm to cokebottleag
I don't advocate destroying Apple, but let's be honest here, they have $250 in cash for one reason. USA and they should have to put some of that back into the very system that allowed them to accrue it to begin with.
Posted on 3/14/17 at 1:34 pm to HeyHeyHogsAllTheWay
So is it the contention that because Apple is an American company that i should keep all of its cash in American banks even if that money is made by an overseas subsidiary or division of Apple?
Posted on 3/14/17 at 1:37 pm to HeyHeyHogsAllTheWay
quote:
Cook has expressly said Apple does not plan to sacrifice roughly 40% of that stash in order to bring the proceeds home to Cupertino, Calif.
Who the hell can blame him?
Posted on 3/14/17 at 1:40 pm to HeyHeyHogsAllTheWay
quote:
I don't advocate destroying Apple, but let's be honest here, they have $250 in cash for one reason. USA and they should have to put some of that back into the very system that allowed them to accrue it to begin with.
What reason is that? They want to accrue funds for acquisition? They want to have a back stop for dividends in a high volatility environment? They want to take advantage of favorable interest rates? They want to do more stock buybacks?
Probably every red cent of that basket was earned overseas, and most of it isn't even very liquid.
Posted on 3/14/17 at 1:40 pm to TigersFan64
quote:
The only "good" thing about it is that you lying conservatives won't be able to blame anyone but yourselves when the federal deficit explodes in size even greater than what it is now
Yea, after that GDP expolsion we witnessed under obama.....
Stop taxing corporations. Period
Posted on 3/14/17 at 1:40 pm to wickowick
quote:
Then they will move operations overseas. You need to make the US competitive on taxes for corporations not more restrictive.
If a company pays taxes in another country where they operated and made money, you think they should also pay the same tax rate to the US?
What are you talking about?
No one said "the same tax rate" but they should pay something.
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