Frayed Ends: Business, Economics, and Tax Policy 3.0

[ScoobyDoo]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Oh really? Minnesota has 17 Fortune 500 companies. Two years ago they had 19, and last year they had 18. As noted in this article, the reason it's declining is that companies are either selling out to companies located elsewhere, or transferring their headquarters to places like Ireland.

And, as an FYI, all the Fortune 500 companies in Minnesota pre-date Dayton's terms as governor by, in most cases, decades if not centuries.

Which is just more glaring evidence that Corporations (or as the government calls them, people) are horrible citizens who hate their country.

 

[FlagDUDE08]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Which is just more glaring evidence that Corporations (or as the government calls them, people) are horrible citizens who hate their country.

Keep trying to shove pride down people's throats, but the fact of the matter is that Ireland provides the path of least resistance when it comes to corporate taxes. You want to keep corporate headquarters in your state? Give them a reason to stay. BTW, 'murica doesn't count as a reason.

 

[trixR4kids]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

They have plenty of reason to stay, it's not like they weren't profitable here. If anything they need to further close the loopholes.

 

[ScoobyDoo]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Keep trying to shove pride down people's throats, but the fact of the matter is that Ireland provides the path of least resistance when it comes to corporate taxes. You want to keep corporate headquarters in your state? Give them a reason to stay. BTW, 'murica doesn't count as a reason.

LOL.

We provide their education, their security, and their customers. **** them.

 

[FlagDUDE08]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

LOL.

We provide their education, their security, and their customers. **** them.

And they still get that with their HQ somewhere else, and for much less expensive, too. Want business? Be competitive.

 

[ScoobyDoo]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

And they still get that with their HQ somewhere else, and for much less expensive, too. Want business? Be competitive.

Then America is dead because Corporate Profits and CEO pay is at an all time high and they're still moving to Ireland.

 

[trixR4kids]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Just close the loophole so that they can't just move their offices to Ireland to avoid the tax. If I had to guess this isn't an issue in other countries with higher effective tax rates than ours.

 

[FreshFish]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Just close the loophole so that they can't just move their offices to Ireland to avoid the tax. If I had to guess this isn't an issue in other countries with higher effective tax rates than ours.

or maybe it isn't an issue in other countries because other countries only tax companies on revenue generated inside those countries. The US is unusual in that it taxes revenue generated in other countries if it is brought onshore (albeit it does give a credit to taxes paid to those countries). very few other countries do that.

It's not a "loophole" it's an aberration....on our part. If we merely had the same practice as most other countries it would no longer be an issue.

 

[FreshFish]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Which is just more glaring evidence that Corporations (or as the government calls them, people) are horrible citizens who hate their country.

yeah, how dare they provide people with jobs and fringe benefits! Who do they think they are anyway, employing people! and not only that, they also provide products and services that people want and value, at an affordable price! What is wrong with them anyway?

 

[St. Clown]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

At least we're not Zimbabwe.

At its worst, in 2009, inflation ran 230 million percent and the government was printing a 100 trillion dollar note — that is now worth 40 cents.

Economic decline led to a collapse of the Zimbabwean currency in the 2000s and it finally had to be abandoned in favor of U.S. dollars and South African rand.

The trade is part of a process of phasing out the local currency for good, says the government.

"Zimbabweans are excited. At least we are giving them something for the notes," Reserve Bank of Zimbabwe governor John Mangudya told the Associated Press Monday.

But the few that have taken up the government on its offer have been disappointed.

"Surely, $1.40 for all that money?" said Elijah Risinamhodzi, a 67-year-old pensioner trading in 410 trillion dollars. "And to think I have been keeping that money for years and years; this is so unfair. People have loads and loads of these notes at home but they will not exchange them for such peanuts."

 

[Kepler]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

There is a point at which money is literally not worth the paper it's printed on. (Of course, nickles and pennies may not be worth the metal they're minted with. )

Give Zimbabwe credit -- they kept upping the numbers rather than redenominating. Somebody (Italy maybe?, or Argentina, who is always a good guess) went through several redenominations over a fairly brief span where they were chopping off 6 zeros at a time between the old and new notes.

Edit: oops, they didn't.

During the height of inflation from 2008 to 2009, it was difficult to measure Zimbabwe's hyperinflation because the government of Zimbabwe stopped filing official inflation statistics. However, Zimbabwe's peak month of inflation is estimated at 6.5 sextillion percent in mid-November 2008.

On 1 August 2008, the Zimbabwe dollar was redenominated by removing 10 zeroes and ZWD 10 billion became 1 dollar after the redenomination. On 16 January 2009, Zimbabwe issued a ZWD100 trillion bill (100,000,000,000,000 ZWD). A roll of toilet paper in Zimbabwe costs $145,750, which is about 69 American cents.

So, had they not had that redenomination, the latter note would have been 1,000,000,000,000,000,000,000,000 ZWD. 1 septillion Z dollars. Nice.

 

[St. Clown]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

There is a point at which money is literally not worth the paper it's printed on. (Of course, nickles and pennies may not be worth the metal they're minted with. )

Give Zimbabwe credit -- they kept upping the numbers rather than devaluing. Somebody (Italy maybe?, or Argentina, who is always a good guess) went through several redenominations over a fairly brief span where they were chopping off 6 zeros at a time between the old and new notes.

Edit: oops, they didn't.


So, had they not had that redenomination, the latter bill would have been 1,000,000,000,000,000,000,000,000 ZWD. 1 septillion Z dollars. Nice.

Back in 2000, the Italian Lira (Lire' ?) was around 2000:1 with the US Dollar. Italy was a giant fire sale. They were saved the embarassment of what Zimbabwe's doing now by moving to the Euro with the rest of the EU.

 

[unofan]

or maybe it isn't an issue in other countries because other countries only tax companies on revenue generated inside those countries. The US is unusual in that it taxes revenue generated in other countries if it is brought onshore (albeit it does give a credit to taxes paid to those countries). very few other countries do that.

It's not a "loophole" it's an aberration....on our part. If we merely had the same practice as most other countries it would no longer be an issue.

So how does your solution stop Apple from assigning all of its patents to its Irish subsidiary and thereafter charging its US operation royalties for use of that patent? All its profits are now foreign and not taxable.

You're telling me that's not a loophole?

 

[FlagDUDE08]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

So how does your solution stop Apple from assigning all of its patents to its Irish subsidiary and thereafter charging its US operation royalties for use of that patent? All its profits are now foreign and not taxable.

You're telling me that's not a loophole?

There's a reason why people and/or companies get patents for multiple countries: It's only valid for that country.

 

[SJHovey]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Which is just more glaring evidence that Corporations (or as the government calls them, people) are horrible citizens who hate their country.

In this regard, corporations are exactly like all other citizens. They move to where their greatest economic advantage lies. I wonder what percentage of human beings in this country live where they do because of the location of their job? They go where they can make money. Corporations are no different. In fact, people actually have a choice. But for our basic human instinct to provide for ourselves and our families, we could easily and legally forgo a move to where food, shelter or employment may be available. Corporate board members, by law, are required to make decisions based upon the best economic outcome for the company. So anyone who votes is to blame for corporate greed, not the corporations.

 

[ScoobyDoo]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

In this regard, corporations are exactly like all other citizens. They move to where their greatest economic advantage lies. I wonder what percentage of human beings in this country live where they do because of the location of their job? They go where they can make money. Corporations are no different. In fact, people actually have a choice. But for our basic human instinct to provide for ourselves and our families, we could easily and legally forgo a move to where food, shelter or employment may be available. Corporate board members, by law, are required to make decisions based upon the best economic outcome for the company. So anyone who votes is to blame for corporate greed, not the corporations.

LOL. No. People do move where they can have the highest standard of living. If they moved where the lowest taxes are they'd all be in Mississippi in a swamp somewhere.

 

[FlagDUDE08]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

LOL. No. People do move where they can have the highest standard of living. If they moved where the lowest taxes are they'd all be in Mississippi in a swamp somewhere.

And to your point, how different is the standard of living in Ireland compared to the USA? I know you talk a lot about how Europe is so much better than this country...

 

[ScoobyDoo]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

And to your point, how different is the standard of living in Ireland compared to the USA? I know you talk a lot about how Europe is so much better than this country...

I do? Since when? Certain countries over there just are. All you have to do is read the reports. Others, not so much.

 

[FlagDUDE08]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

I do? Since when? Certain countries over there just are. All you have to do is read the reports. Others, not so much.

Since the last time you typed about the PPACA.

 

[FlagDUDE08]

Re: Frayed Ends: Business, Economics, and Tax Policy 3.0

Oh, this should be fun... http://www.hri.org/news/greek/apeen/2015/15-06-17_3.apeen.html