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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 ScoobyDoo View Post
    Love that book. Might be the best economics book written in the last 25 years. Not sure what you mean by anecdotal cause everything in that book has turned out to be either true or prophetic.
    I mean anecdotal by... its meaning. AFAIK (which is from my wife telling me about it), the book's narrative is driven by anecdotes. "Peggy Priddy sits at the breakfast table slowly stirring her Cheerios and wondering how she'll meet this month's mortgage." I HATE that style. Just give me tables and facts and lay out your arguments as testable hypotheses. I don't want to hear your anecdotes about how Peggy's daughter can't afford dance lessons since Mr. Priddy split; I don't care.
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    • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

      Originally posted by Kepler View Post
      I mean anecdotal by... its meaning. AFAIK (which is from my wife telling me about it), the book's narrative is driven by anecdotes. "Peggy Priddy sits at the breakfast table slowly stirring her Cheerios and wondering how she'll meet this month's mortgage." I HATE that style. Just give me tables and facts and lay out your arguments as testable hypotheses. I don't want to hear your anecdotes about how Peggy's daughter can't afford dance lessons since Mr. Priddy split; I don't care.
      Yeah, but did you hear WHY Mr. Priddy split?
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      • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

        Originally posted by Kepler View Post
        I mean anecdotal by... its meaning. AFAIK (which is from my wife telling me about it), the book's narrative is driven by anecdotes. "Peggy Priddy sits at the breakfast table slowly stirring her Cheerios and wondering how she'll meet this month's mortgage." I HATE that style. Just give me tables and facts and lay out your arguments as testable hypotheses. I don't want to hear your anecdotes about how Peggy's daughter can't afford dance lessons since Mr. Priddy split; I don't care.
        Aaah, to each his own. I like that style. Adds context. No book has nailed the current economic condition and the reasons the Government has gotten wrong better.
        **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

          Burger King to buy Tim Horton's????
          CCT '77 & '78
          4 kids
          5 grandsons (BCA 7/09, CJA 5/14, JDL 8/14, JFL 6/16, PJL 7/18)
          1 granddaughter (EML 4/18)

          ”Any society that would give up a little liberty to gain a little security will deserve neither and lose both.”
          - Benjamin Franklin

          Banned from the St. Lawrence University Facebook page - March 2016 (But I got better).

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

            Originally posted by joecct View Post
            And invert at the same time. I'll never eat there again.
            **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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            • Originally posted by ScoobyDoo View Post
              And invert at the same time. I'll never eat there again.
              Tim's or BK? The latter is OK. The former would be sacrilege.
              CCT '77 & '78
              4 kids
              5 grandsons (BCA 7/09, CJA 5/14, JDL 8/14, JFL 6/16, PJL 7/18)
              1 granddaughter (EML 4/18)

              ”Any society that would give up a little liberty to gain a little security will deserve neither and lose both.”
              - Benjamin Franklin

              Banned from the St. Lawrence University Facebook page - March 2016 (But I got better).

              I want to live forever. So far, so good.

              Comment


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

                Originally posted by joecct View Post
                Tim's or BK? The latter is OK. The former would be sacrilege.
                Tim Horton's doesn't have any locations in MN; donut shops never seem to thrive here.
                "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

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

                  Originally posted by ScoobyDoo View Post
                  And invert at the same time. I'll never eat there again.
                  We would likely see an end to all of these inversions if we were to simply exempt foreign profits from domestic taxes since they were already taxed in the country in which they were earned. You know, the same thing most other countries do already. You're striving to compare us to various European models on so many things, I'm surprised you and your ilk haven't made that connection yet.
                  "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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                  • Originally posted by St. Clown View Post
                    We would likely see an end to all of these inversions if we were to simply exempt foreign profits from domestic taxes since they were already taxed in the country in which they were earned. You know, the same thing most other countries do already. You're striving to compare us to various European models on so many things, I'm surprised you and your ilk haven't made that connection yet.
                    They get credits for most taxes paid overseas anyway. They only have to pay the difference, if any.

                    It's just like if you earn money in two different states. You pay your non resident state taxes first, and your resident state credits those taxes paid against your bill due to it.

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

                      Originally posted by St. Clown View Post
                      We would likely see an end to all of these inversions if we were to simply exempt foreign profits from domestic taxes since they were already taxed in the country in which they were earned. You know, the same thing most other countries do already. You're striving to compare us to various European models on so many things, I'm surprised you and your ilk haven't made that connection yet.
                      Considering they already can find ways to pay zero taxes here anyway I call BS on your entire premise.
                      **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 unofan View Post
                        They get credits for most taxes paid overseas anyway. They only have to pay the difference, if any.

                        It's just like if you earn money in two different states. You pay your non resident state taxes first, and your resident state credits those taxes paid against your bill due to it.
                        Most states do that, yes, but not every state.
                        "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

                        Comment


                        • Originally posted by St. Clown View Post
                          Most states do that, yes, but not every state.
                          Which doesn't change the point that the US will give companies credit for foreign taxes paid in the vast majority of circumstances.

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

                            Exactly. If someone wants to make the statement that the corporate tax code needs a revamp, sure I can buy that. But if the statement is US corps pay too much in taxes that's absurd. Plenty pay no taxes, and changing the tax code wouldn't convince them all to start paying taxes after all.
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                            • Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

                              Originally posted by Rover View Post
                              Exactly. If someone wants to make the statement that the corporate tax code needs a revamp, sure I can buy that. But if the statement is US corps pay too much in taxes that's absurd. Plenty pay no taxes, and changing the tax code wouldn't convince them all to start paying taxes after all.
                              Cut the crony capitalism, with the tax credits for partaking in certain types of research and selling only particular goods, GE is a great example of this. When doing this, lower the nominal rates, because as is the case with AbbVie moving to Britain, their tax people have calculated that their effective rate will be cut from 26% to 13%. When you see this lack of "economic patriotism", it's clear that the coporate tax situation isn't so rosy for a whole slew of companies in the US. The more we take efforts to fix that and less spending time whining about it, the more attractive it will be for companies to not go through an inversion. We have the highest nominal rate in the developed world, and the effective rate is pretty high if you're not one of The Chosen, like GE.
                              "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

                              Comment


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

                                Originally posted by St. Clown View Post
                                Cut the crony capitalism, with the tax credits for partaking in certain types of research and selling only particular goods, GE is a great example of this. When doing this, lower the nominal rates, because as is the case with AbbVie moving to Britain, their tax people have calculated that their effective rate will be cut from 26% to 13%. When you see this lack of "economic patriotism", it's clear that the coporate tax situation isn't so rosy for a whole slew of companies in the US. The more we take efforts to fix that and less spending time whining about it, the more attractive it will be for companies to not go through an inversion. We have the highest nominal rate in the developed world, and the effective rate is pretty high if you're not one of The Chosen, like GE.
                                Use GAAP. Screw the tax code. Give a $1 million exemption and then 15% on the balance.
                                CCT '77 & '78
                                4 kids
                                5 grandsons (BCA 7/09, CJA 5/14, JDL 8/14, JFL 6/16, PJL 7/18)
                                1 granddaughter (EML 4/18)

                                ”Any society that would give up a little liberty to gain a little security will deserve neither and lose both.”
                                - Benjamin Franklin

                                Banned from the St. Lawrence University Facebook page - March 2016 (But I got better).

                                I want to live forever. So far, so good.

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