So how does that fact force global companies to repatriate profits? It doesn't.
Not yet.
You leftists don't think clearly.
What makes you think I'm a leftist? I pointed out a long-term trend that politicians have avoided talking about for decades. Ever noticed when politicians talk about budget proposals, the forecast is for the next 10 years but never 20 or 30 years out? As 2030 comes closer and closer, the numbers will get bleaker and the choices will get harder. Both liberal and conservatives will struggle with this issue. This can got kicked down the road since the 1980's — and the road is coming to an abrupt end.
Perhaps if the government of California made the tax code so EVERYONE could run a business there instead of just the people they deem acceptable, they would have less problems.
Take it up with the anti-tax folks who got Proposition 13 passed in 1978 to starve local and state governments from property tax revenues from both residential and commercial buildings. California's tax policies has been screwed up ever since then.
If you are not on California's "good list" don't bother opening shop there is my take away from your argument.
That's not stopping startups from starting up or more people from moving into Silicon Valley and San Francisco. People complain about California taxes only when huge numbers and unicorns are involved.
Even President Obama [yahoo.com] admitted that cutting the capital gains tax rate would increase total revenue to the Federal Government.
Most discussions about cutting taxes to increase tax revenues deals with income tax and not the capital gains tax. I don't have a problem lowering the capital gains tax. What the government should do is close the carry interest loop hole that hedge fund managers use to pay themselves after sucking equity from healthy companies and leaving behind debt-ridden corporate zombies.
The recession largely happened because the credit markets dried up as a result of a housing bubble caused by too-easy-to-get loans as the industry was pressured (by democrats) into making.
Wall Street needed no pressure to abandon underwriting standards to sell bogus derivatives that they knew were worthless over and over again. Massive fraud was committed. You will find a dozen books on the subject at the library.
The real question is why the recovery is so slow.
It took 25 years for the US to recover from the Great Depression. What makes you think that the recovery from the Great Recession, which almost became another Great Depression, is going to be faster than that?
Obviously you run your own company. Did you specifically choose to set up that company in a state with the high taxes? No? Why not?
Apple incorporated in California in 1977 and had no problems paying the state corporate tax until 2006, when they opened their subsidiary to shield multi-billion-dollar profits from being taxed in California. Apple should simply move their headquarters to Nevada and stop playing tax games. I guess they don't want to give up their $496M in R&D tax credits that California taxpayers gave them since 1996.
[...] LOWER taxes in ways that generate - as they have repeatedly in the past - far more tax revenue because of much more (competitively, rather than punitively taxed) activity [...]
Voodoo economics has never worked. If it did, the Bush tax cuts would have prevented the Great Recession from happening. A $4T tax cut over ten years have failed to produce more tax revenue to cover the shortfall and then some. It didn't help that Bush had multi-trillion-dollar wars off the books that Obama put on the books. Obama making the tax cuts permanent without corresponding cuts in government spending didn't help either.
If the US was smart, they would lower the corporate income tax to near 0%, and change the laws to allow that money to be repatriated to the US. It would be nice to see it invested here, rather than languishing in some other country.
And how would you make up for the lost revenue from corporate taxation? We have a federal budget deficit because tax revenues don't cover expenses. Remember that taxpayers want more and more government services. If someone has to go with less government services, it won't be them. Politicians don't have the balls to call on taxpayers to S-A-C-R-I-F-I-C-E for the betterment of the country. If they do, they might have to look for a new job.
That Apple funnels US profits in a Nevada shell company to avoid paying state corporate taxes, including taxes in California where corporate headquarters are located.
The reality in 2030 is that the Baby Boomers will be retired, retirees will outnumber workers, and Medicare/Social Security will consume two-thirds of the federal budget. Taxes will have to go way up to pay for everything else.
Neither Obama nor his administration has a lawful ability to repeal a judge's decision.
Correct. I got appeal confused with repeal because I read an article that the House is going to repeal the 2001 war authorization before I made my comment.
Another hypocrite who will whine about abandoning the rule of law, ignoring regulations and abuse of government power - Except their own, of course.
I'm no longer a Republican.
BTW - that's "appealing" the decision. A freudian slip I'm sure wasn't intentional or how your rose-colored view of the world works in your mind.
Uh, no. I traded in my rose-colored glasses when I became a Democrat. I read an article about the House repealing the 2001 war authorization before I made my comment. The word stuck in my mind.
Or, a police officer who decides to stop and ticket you â" the rules of the road apply to bicycles as well as motorcycles and cars.
Do you think soccer moms in SUVs give a damn about the rules of the road? I've seen soccer moms drive up on the sidewalk and/or landscaping to avoid being delayed by traffic at a red light Bicyclists are just another speed bump for them.
No surprise here. The 26 states don't have a case, found a sympathetic Republican-appointed judge who made a ruling favorable to the states, and judge retaliated against DOJ because the Obama Administration is moving ahead while repealing the decision. Republicans are always screaming about judicial activism — except their own, of course.
When you have a captive audience, you can charge the hell out of them. Movie theaters with concession stands. Vending machines at convention centers. And... drum roll, please... Uber cars with dying cellphones. On that note, don't expect Uber cars to offer plugins to recharge cellphones.
There's a giant difference between, "bad things are happening on the Internet" (general idea you are referencing) and "work I've devoted substantial parts of my life to is destroyed" (specific case here.)
That's a very good point. I'm more familiar with the former than the latter.
We're in another two right now (.com 2 and chinese assets).
So what if the Silicon Valley unicorns are shrinking from 20 per month to a few because venture capitalists are being more conservative in throwing their money around? That's not a dot com bust in the making.
As for Chinese assets, the Chinese and the rest of the world are suffering for that. The impact on the US has been minimal to date.
Slashdot Mirror
So how does that fact force global companies to repatriate profits? It doesn't.
Not yet.
You leftists don't think clearly.
What makes you think I'm a leftist? I pointed out a long-term trend that politicians have avoided talking about for decades. Ever noticed when politicians talk about budget proposals, the forecast is for the next 10 years but never 20 or 30 years out? As 2030 comes closer and closer, the numbers will get bleaker and the choices will get harder. Both liberal and conservatives will struggle with this issue. This can got kicked down the road since the 1980's — and the road is coming to an abrupt end.
Perhaps if the government of California made the tax code so EVERYONE could run a business there instead of just the people they deem acceptable, they would have less problems.
Take it up with the anti-tax folks who got Proposition 13 passed in 1978 to starve local and state governments from property tax revenues from both residential and commercial buildings. California's tax policies has been screwed up ever since then.
If you are not on California's "good list" don't bother opening shop there is my take away from your argument.
That's not stopping startups from starting up or more people from moving into Silicon Valley and San Francisco. People complain about California taxes only when huge numbers and unicorns are involved.
Even President Obama [yahoo.com] admitted that cutting the capital gains tax rate would increase total revenue to the Federal Government.
Most discussions about cutting taxes to increase tax revenues deals with income tax and not the capital gains tax. I don't have a problem lowering the capital gains tax. What the government should do is close the carry interest loop hole that hedge fund managers use to pay themselves after sucking equity from healthy companies and leaving behind debt-ridden corporate zombies.
The recession largely happened because the credit markets dried up as a result of a housing bubble caused by too-easy-to-get loans as the industry was pressured (by democrats) into making.
Wall Street needed no pressure to abandon underwriting standards to sell bogus derivatives that they knew were worthless over and over again. Massive fraud was committed. You will find a dozen books on the subject at the library.
The real question is why the recovery is so slow.
It took 25 years for the US to recover from the Great Depression. What makes you think that the recovery from the Great Recession, which almost became another Great Depression, is going to be faster than that?
Obviously you run your own company. Did you specifically choose to set up that company in a state with the high taxes? No? Why not?
Apple incorporated in California in 1977 and had no problems paying the state corporate tax until 2006, when they opened their subsidiary to shield multi-billion-dollar profits from being taxed in California. Apple should simply move their headquarters to Nevada and stop playing tax games. I guess they don't want to give up their $496M in R&D tax credits that California taxpayers gave them since 1996.
[...] LOWER taxes in ways that generate - as they have repeatedly in the past - far more tax revenue because of much more (competitively, rather than punitively taxed) activity [...]
Voodoo economics has never worked. If it did, the Bush tax cuts would have prevented the Great Recession from happening. A $4T tax cut over ten years have failed to produce more tax revenue to cover the shortfall and then some. It didn't help that Bush had multi-trillion-dollar wars off the books that Obama put on the books. Obama making the tax cuts permanent without corresponding cuts in government spending didn't help either.
If the US was smart, they would lower the corporate income tax to near 0%, and change the laws to allow that money to be repatriated to the US. It would be nice to see it invested here, rather than languishing in some other country.
And how would you make up for the lost revenue from corporate taxation? We have a federal budget deficit because tax revenues don't cover expenses. Remember that taxpayers want more and more government services. If someone has to go with less government services, it won't be them. Politicians don't have the balls to call on taxpayers to S-A-C-R-I-F-I-C-E for the betterment of the country. If they do, they might have to look for a new job.
Or we could start making soylent green.
That would be ageism — and taste really, really bad.
It means more African Americans, women, and transgendered people, regardless of what portion they already make up.
Go work for government IT. Problem solved.
That Apple funnels US profits in a Nevada shell company to avoid paying state corporate taxes, including taxes in California where corporate headquarters are located.
http://www.nytimes.com/2012/04/29/business/apples-tax-strategy-aims-at-low-tax-states-and-nations.html
The reality in 2030 is that the Baby Boomers will be retired, retirees will outnumber workers, and Medicare/Social Security will consume two-thirds of the federal budget. Taxes will have to go way up to pay for everything else.
So, essentially, government AND businesses should only be concerned with those that can invest money. Anyone else simply doesn't count.
Historically, yes.
Neither Obama nor his administration has a lawful ability to repeal a judge's decision.
Correct. I got appeal confused with repeal because I read an article that the House is going to repeal the 2001 war authorization before I made my comment.
http://thehill.com/policy/defense/280339-house-to-debate-repealing-2001-war-authorization
Another hypocrite who will whine about abandoning the rule of law, ignoring regulations and abuse of government power - Except their own, of course.
I'm no longer a Republican.
BTW - that's "appealing" the decision. A freudian slip I'm sure wasn't intentional or how your rose-colored view of the world works in your mind.
Uh, no. I traded in my rose-colored glasses when I became a Democrat. I read an article about the House repealing the 2001 war authorization before I made my comment. The word stuck in my mind.
http://thehill.com/policy/defense/280339-house-to-debate-repealing-2001-war-authorization
Or, a police officer who decides to stop and ticket you â" the rules of the road apply to bicycles as well as motorcycles and cars.
Do you think soccer moms in SUVs give a damn about the rules of the road? I've seen soccer moms drive up on the sidewalk and/or landscaping to avoid being delayed by traffic at a red light Bicyclists are just another speed bump for them.
You are nothing but a fucking zealot.
That means what exactly?
No wonder this site has fallen
Now that everyone is a nerd, anti-social nerds are a dying breed.
No surprise here. The 26 states don't have a case, found a sympathetic Republican-appointed judge who made a ruling favorable to the states, and judge retaliated against DOJ because the Obama Administration is moving ahead while repealing the decision. Republicans are always screaming about judicial activism — except their own, of course.
We are easy to find — just go, where truth is.
The X-Files called and want their truth back.
A bicycle is fairly cheap, and you can easily cycle past the traffic jams.
You have obviously never been run down by a soccer mom trying to get her devil spawn to school on time.
When you have a captive audience, you can charge the hell out of them. Movie theaters with concession stands. Vending machines at convention centers. And... drum roll, please... Uber cars with dying cellphones. On that note, don't expect Uber cars to offer plugins to recharge cellphones.
Departs from where?
Wallet, of course.
There's a giant difference between, "bad things are happening on the Internet" (general idea you are referencing) and "work I've devoted substantial parts of my life to is destroyed" (specific case here.)
That's a very good point. I'm more familiar with the former than the latter.
You can own a house. You can't own the house if you don't pay your property taxes and the county decides to foreclose.
FTFY - In short, you can never really own real estate.
We're in another two right now (.com 2 and chinese assets).
So what if the Silicon Valley unicorns are shrinking from 20 per month to a few because venture capitalists are being more conservative in throwing their money around? That's not a dot com bust in the making.
As for Chinese assets, the Chinese and the rest of the world are suffering for that. The impact on the US has been minimal to date.