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re: Explain to me the new tax increases
Posted on 4/1/21 at 11:55 am to Pecker
Posted on 4/1/21 at 11:55 am to Pecker
quote:
US companies build factories in China for the the cheap labor, not Chinese tax benefits
Right. Tax isn't the primary reason manufacturing moves abroad. Now, tax was driving some companies to look at inversions but that's less attractive under new provisions that are likely not going anywhere.
There are reasons to oppose corporate tax hikes--namely the passing of the tax incidence to consumers and labor, but these other talking points --like the repatriation angle mentioned above-- are complete bunk.
This post was edited on 4/1/21 at 12:05 pm
1
Posted on 4/1/21 at 12:21 pm to Jorts R Us
quote:
There are reasons to oppose corporate tax hikes--namely the passing of the tax incidence to consumers and labor, but these other talking points --like the repatriation angle mentioned above-- are complete bunk.
I was being a little glib (especially since the details are not out yet). That said, if we aren't worried about moving money out the US why are they proposing measures designed to prevent offshoring of profits? In, I remind you, an infrastructure bill.
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