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Weaving the Strands: Business, Economics, and Tax Policy 2.0

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  • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

    Originally posted by dxmnkd316 View Post
    Those are not the "loopholes" most people think of when they hear "loophole". It's the loopholes that are generally only known by those who can afford to pay an accountant or tax attorney who would know about them. Those are the loopholes I want closed.
    I do believe you're making his point for him, though. It's ther perception that it's only a loophole if I don't make use of that specific portion of the tax code.
    "The party told you to reject the evidence of your eyes and ears. It was their final, most essential command." George Orwell, 1984

    "One does not simply walk into Mordor. Its Black Gates are guarded by more than just Orcs. There is evil there that does not sleep, and the Great Eye is ever watchful. It is a barren wasteland, riddled with fire and ash and dust, the very air you breathe is a poisonous fume." Boromir

    "Good news! We have a delivery." Professor Farnsworth

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    • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

      Originally posted by St. Clown View Post
      I do believe you're making his point for him, though. It's ther perception that it's only a loophole if I don't make use of that specific portion of the tax code.
      Perhaps. But donations to the church are not loopholes. Since you're losing what? $0.67 for every $1.00 you donate? (I'm figuring highest marginal rate including state taxes.)
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      Originally posted by SanTropez
      May your paint thinner run dry and the fleas of a thousand camels infest your dead deer.
      Originally posted by bigblue_dl
      I don't even know how to classify magic vagina smoke babies..
      Originally posted by Kepler
      When the giraffes start building radio telescopes they can join too.
      He's probably going to be a superstar but that man has more baggage than North West

      Comment


      • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

        Originally posted by St. Clown View Post
        I do believe you're making his point for him, though. It's ther perception that it's only a loophole if I don't make use of that specific portion of the tax code.
        Sure, and all those companies taking advantage of the inversion part of the tax code are certainly on the up and up.

        We've turned the tax code and Wall Street into a game that only the rich can win. Nothing wrong with that, right?
        **NOTE: The misleading post above was brought to you by Reynold's Wrap and American Steeples, makers of Crosses.

        Originally Posted by dropthatpuck-Scooby's a lost cause.
        Originally Posted by First Time, Long Time-Always knew you were nothing but a troll.

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        • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

          Originally posted by ScoobyDoo View Post
          Sure, and all those companies taking advantage of the inversion part of the tax code are certainly on the up and up.

          We've turned the tax code and Wall Street into a game that only the rich can win. Nothing wrong with that, right?
          The tax inversion problem is a complicated one, politically and otherwise. To suggest it boils down to a few wealthy corporate fatcats paying off politicians to protect the practice seems a bit simplistic.

          Everyone wanted a global economy, and now we've got it. The problem with that is the same one individual states in the U.S. have known about for years. You have to be careful how you tax, lest you become uncompetitive with your neighboring state.

          The U.S. chooses to engage in a form of double taxation on it's corporations, and with control of the Senate and the Presidency by the Democrats, that's not likely to change. I don't see a big "repeal the corporate tax" platform in order to stop corporate inversions.

          But absent that, we put corporations from our country at a distinct disadvantage to their competitors. So we have some hard choices to make as a country.
          That community is already in the process of dissolution where each man begins to eye his neighbor as a possible enemy, where non-conformity with the accepted creed, political as well as religious, is a mark of disaffection; where denunciation, without specification or backing, takes the place of evidence; where orthodoxy chokes freedom of dissent; where faith in the eventual supremacy of reason has become so timid that we dare not enter our convictions in the open lists, to win or lose.

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          • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

            Originally posted by SJHovey View Post
            The tax inversion problem is a complicated one, politically and otherwise. To suggest it boils down to a few wealthy corporate fatcats paying off politicians to protect the practice seems a bit simplistic.

            Everyone wanted a global economy, and now we've got it. The problem with that is the same one individual states in the U.S. have known about for years. You have to be careful how you tax, lest you become uncompetitive with your neighboring state.

            The U.S. chooses to engage in a form of double taxation on it's corporations, and with control of the Senate and the Presidency by the Democrats, that's not likely to change. I don't see a big "repeal the corporate tax" platform in order to stop corporate inversions.

            But absent that, we put corporations from our country at a distinct disadvantage to their competitors. So we have some hard choices to make as a country.
            I would like to point out that in 2004 a bill was signed into law that effectively barred inversions. More or less. It shouldn't be that difficult of a decision.
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            Originally posted by SanTropez
            May your paint thinner run dry and the fleas of a thousand camels infest your dead deer.
            Originally posted by bigblue_dl
            I don't even know how to classify magic vagina smoke babies..
            Originally posted by Kepler
            When the giraffes start building radio telescopes they can join too.
            He's probably going to be a superstar but that man has more baggage than North West

            Comment


            • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

              Originally posted by dxmnkd316 View Post
              I would like to point out that in 2004 a bill was signed into law that effectively barred inversions. More or less. It shouldn't be that difficult of a decision.
              Not sure how "effective" it was if we're still talking about it 10 years later.
              That community is already in the process of dissolution where each man begins to eye his neighbor as a possible enemy, where non-conformity with the accepted creed, political as well as religious, is a mark of disaffection; where denunciation, without specification or backing, takes the place of evidence; where orthodoxy chokes freedom of dissent; where faith in the eventual supremacy of reason has become so timid that we dare not enter our convictions in the open lists, to win or lose.

              Comment


              • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

                Originally posted by SJHovey View Post
                Not sure how "effective" it was if we're still talking about it 10 years later.
                It was effective until the corporations found a way around it:
                http://www.huffingtonpost.com/chyech...b_5367320.html

                http://www.levin.senate.gov/newsroom...ns-act-of-2014
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                College Hockey 6       College Football 0
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                Originally posted by SanTropez
                May your paint thinner run dry and the fleas of a thousand camels infest your dead deer.
                Originally posted by bigblue_dl
                I don't even know how to classify magic vagina smoke babies..
                Originally posted by Kepler
                When the giraffes start building radio telescopes they can join too.
                He's probably going to be a superstar but that man has more baggage than North West

                Comment


                • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

                  A thought-provoking article from 538 blog on the decline of summer jobs for teens.

                  Research has shown that teenagers — and especially teenage boys — who work are more likely to graduate high school, more likely to go to college and less likely to get into trouble with the law. They also gain valuable work experience that can make it easier to get a job and get promoted more quickly in adulthood. But for a variety of reasons — fewer job opportunities, more emphasis on schooling, changing societal expectations — fewer young people are getting summer jobs.

                  In the 1970s, more than half of teens ages 16 to 19 — and nearly two-thirds of boys in that age range — worked in the summer, according to data from the Bureau of Labor Statistics. In 2014, less than a third did so. The drop has been even more dramatic for 16- and 17-year-olds: Just 20 percent of them worked this summer, down from about 45 percent in the 1970s.

                  “If kids don’t work when they’re young, a lot of the behavioral traits that are important just don’t get developed down the road,” said Paul Harrington, an economist at Drexel University in Philadelphia who has studied the youth labor market. “These are the ages when you’re making these huge decisions about where you’re going to end up in life.”
                  "Hope is a good thing; maybe the best of things."

                  "Beer is a sign that God loves us and wants us to be happy." -- Benjamin Franklin

                  "Being Irish, he had an abiding sense of tragedy, which sustained him through temporary periods of joy." -- W. B. Yeats

                  "People generally are most impatient with those flaws in others about which they are most ashamed of in themselves." - folk wisdom

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                  • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

                    Speaking of thought provoking articles.

                    http://www.bostonglobe.com/business/...DmO/story.html

                    I think the rich are due for another tax cut.
                    **NOTE: The misleading post above was brought to you by Reynold's Wrap and American Steeples, makers of Crosses.

                    Originally Posted by dropthatpuck-Scooby's a lost cause.
                    Originally Posted by First Time, Long Time-Always knew you were nothing but a troll.

                    Comment


                    • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

                      Hmm....

                      the income for people who do not have jobs is not rising as fast as the income for people who do have jobs.

                      I suppose this is just coincidence?

                      The best way to increase incomes for people is for them to acquire useful job skills. Trying to make everyone poor doesn't seem to help much.

                      You don't seem to understand that politicians of all parties like to have rich people around: who else is going to contribute meaningful money to their never-ending campaigns to obtain and retain office?


                      Yet the fact that nearly every politican gets richer once in office doesn't seem to bother you at all.....

                      oh, right, a foolish consistency is the hobgoblin of narrow minds, that's your mantra, eh?
                      Last edited by FreshFish; 08-15-2014, 11:01 AM.
                      "Hope is a good thing; maybe the best of things."

                      "Beer is a sign that God loves us and wants us to be happy." -- Benjamin Franklin

                      "Being Irish, he had an abiding sense of tragedy, which sustained him through temporary periods of joy." -- W. B. Yeats

                      "People generally are most impatient with those flaws in others about which they are most ashamed of in themselves." - folk wisdom

                      Comment


                      • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

                        Originally posted by FreshFish View Post
                        Hmm....

                        the income for people who do not have jobs is not rising as fast as the income for people who do have jobs.

                        I suppose this is just coincidence?

                        The best way to increase incomes for people is for them to acquire useful job skills. Trying to make everyone poor doesn't seem to help much.

                        You don't seem to understand that politicians of all parties like to have rich people around: who else is going to contribute meaningful money to their never-ending campaigns to obtain and retain office?


                        Yet the fact that nearly every politican gets richer once in office doesn't seem to bother you at all.....

                        oh, right, a foolish consistency is the hobgoblin of narrow minds, that's your mantra, eh?
                        Wooooooooooooooosh.
                        **NOTE: The misleading post above was brought to you by Reynold's Wrap and American Steeples, makers of Crosses.

                        Originally Posted by dropthatpuck-Scooby's a lost cause.
                        Originally Posted by First Time, Long Time-Always knew you were nothing but a troll.

                        Comment


                        • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

                          Originally posted by FreshFish View Post
                          A thought-provoking article from 538 blog on the decline of summer jobs for teens.
                          I bet there are a lot of reasons for this. I'm sure you'd hear arguments about the minimum wage, the poor economy forcing older workers to accept lower paying jobs, etc...

                          I was one of those teens who worked in the '70's. I did so for the usual reason -- to have money for gas, movies, etc...

                          But there was another factor. There really wasn't anything else to do then. There weren't any video games. We had three stations on the tv. I suppose you could go to the local bowling alley and play pinball. You either worked, or you hung out, and probably got in trouble.

                          Too many other options for teenagers today, including what has essentially become year round sports participation. That's my theory for a large part of the change.
                          That community is already in the process of dissolution where each man begins to eye his neighbor as a possible enemy, where non-conformity with the accepted creed, political as well as religious, is a mark of disaffection; where denunciation, without specification or backing, takes the place of evidence; where orthodoxy chokes freedom of dissent; where faith in the eventual supremacy of reason has become so timid that we dare not enter our convictions in the open lists, to win or lose.

                          Comment


                          • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

                            Originally posted by SJHovey View Post
                            I bet there are a lot of reasons for this. I'm sure you'd hear arguments about the minimum wage, the poor economy forcing older workers to accept lower paying jobs, etc...

                            I was one of those teens who worked in the '70's. I did so for the usual reason -- to have money for gas, movies, etc...

                            But there was another factor. There really wasn't anything else to do then. There weren't any video games. We had three stations on the tv. I suppose you could go to the local bowling alley and play pinball. You either worked, or you hung out, and probably got in trouble.

                            Too many other options for teenagers today, including what has essentially become year round sports participation. That's my theory for a large part of the change.
                            I agree. I was growing up in the 80's and even back then my mother made it clear she wasn't a taxi service. I could have a job or play a sport but no 7 nights of being carted around doing this or that. Parents these days seem a lot more willing to drive their kids to whatever they want to do, and often that doesn't involve having a job. Don't think the kids are lazy, more like overbooked.
                            Legally drunk???? If its "legal", what's the ------- problem?!? - George Carlin

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                            • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

                              Originally posted by Rover View Post
                              Don't think the kids are lazy, more like overbooked.
                              Way overscheduled. Way to turn childhood into a chore, parents.
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                              • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

                                There's a line to be drawn. I think it's extremely important to make sure kids have a job as young as they can. Put them on a financial leash and make sure they understand the need to work hard to earn their money.

                                I started working as a ref for soccer when I was 12ish. I got hired at DQ when I was 15 (still worked as a ref). In college I worked at the dining hall and a chemistry computer lab while still going home on some of the weekends to work at DQ. For a couple years I had three jobs while taking chemical engineering coursework at one of the nation's top ChEn schools. It wasn't easy but it gave me a sense of work ethic.
                                Code:
                                As of 9/21/10:         As of 9/13/10:
                                College Hockey 6       College Football 0
                                BTHC 4                 WCHA FC:  1
                                Originally posted by SanTropez
                                May your paint thinner run dry and the fleas of a thousand camels infest your dead deer.
                                Originally posted by bigblue_dl
                                I don't even know how to classify magic vagina smoke babies..
                                Originally posted by Kepler
                                When the giraffes start building radio telescopes they can join too.
                                He's probably going to be a superstar but that man has more baggage than North West

                                Comment

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