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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

joecct said:
Tim's or BK? The latter is OK. The former would be sacrilege.
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Tim Horton's doesn't have any locations in MN; donut shops never seem to thrive here.
 
Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

ScoobyDoo said:
And invert at the same time. I'll never eat there again.
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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.
 
St. Clown said:
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.
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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.
 
Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

St. Clown said:
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.
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Considering they already can find ways to pay zero taxes here anyway I call BS on your entire premise.
 
Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

unofan said:
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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Most states do that, yes, but not every state.
 
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.
 
Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

Rover said:
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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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.
 
Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

St. Clown said:
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.
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Use GAAP. Screw the tax code. Give a $1 million exemption and then 15% on the balance.
 
Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

Kepler said:
Sold.
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You write your Montgomery County congressman, I'll write my Montgomery County Congressman, and let's get the ball rolling.

Kep, Amazon has a bunch of Churchill history/biography (Marlborough for example) books for $1.99. I think my gift card is going to get a workout.
 
Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

joecct said:
You write your Montgomery County congressman, I'll write my Montgomery County Congressman, and let's get the ball rolling.

Kep, Amazon has a bunch of Churchill history/biography (Marlborough for example) books for $1.99. I think my gift card is going to get a workout.
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I'm Frederick County.

I like "A History of the English-Speaking Peoples."
 
Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

ScoobyDoo said:
And invert at the same time. I'll never eat there again.
Click to expand...

Everyone I hear/read talking about this merger completely misses this point. This isn't an acquisition or merger, it's an inversion.

Burger King has absolutely no interest in the doughnut industry outside of Canada's (apparently) low corporate tax rate.
 
Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

dxmnkd316 said:
Everyone I hear/read talking about this merger completely misses this point. This isn't an acquisition or merger, it's an inversion.

Burger King has absolutely no interest in the doughnut industry outside of Canada's (apparently) low corporate tax rate.
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I assumed the Great White People's Republic had high corporate income taxes.
 
Re: Weaving the Strands: Business, Economics, and Tax Policy 2.0

joecct said:
But your congressman lives in MoCo. The gerrymander was quite effective.
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Given my congressman's ludicrous wealth, he probably really lives in St. Vincent and the Grenadines.
 
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