People want cheap shit, fuck what we leave our children. Are you more likely to buy a $5 bag of bread or a $2 bag of bread?
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45 million people in 2011 received food stamps, a 70% increase from 2007
- Thread starter Arnold
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People want cheap shit, fuck what we leave our children. Are you more likely to buy a $5 bag of bread or a $2 bag of bread?
Yeah we want cheap products that's why all our jobs are going overseas. Companies can't put out a low priced product here with all the different types regulations.
They can't put out a cheap product because they can't pay employees $2 a day with no benefits or vacation, do you think dropping regulations is going to change that? I do realize the minimum wage is a regulation, but I think we can all agree dropping the minimum wage any further would only increase the number of people on the government tit, you can't even afford to fill up your gas tank on $14 a week.
So what, the only people who pay that amount are the Mom and Pop's, the big multinationals pay less than half the rate. If they paid the rate they were supposed to we could cut the amount Mom and Pop pay so the real drivers of the economy could hire people.
Those companies will expand, just not in the US. They receive tax breaks to send jobs outside the US. That's a fact, Jack.
Oil prices have gone up because regulations have been eased on commodity trading, which affects cost. Quit sucking down the koolaid.
not even close, more like one of the lowest. the stated rate on paper is high the actual effective rate that they pay is what matters and that accounts for 2.7% of US GDP one of the lowest in the OECD and world and the US also has 75% of the Global 500's and hosts most of the most profitable company's in world history. then you have to factor in that the US fed gov hands out close to 500B a year in subsidy and tax giveaways, so US large firms are "paying" far less than that rate of 2.7% of US GDP.
Taxes on corporate income - Taxation: Key Tables from OECD - OECD iLibrary
it doesn't even matter what the corporate tax rate is with other country's if you don't trade with them, the only thing that matters are the rates with the US heavy trading partners which are Mexico, Canada and China.
(CNSNews.com) – When Japan officially reduced its corporate tax rate from 39.8 to 36.8 percent on Sunday the United States became the country with the highest corporate tax rate in the world – 39.2 percent.
The U.S. rate is made up of the federal business tax rate of 35 percent plus the average rate from among the states. The figure does not equal what American corporations actually pay – the effective tax rate – but represents the marginal tax rate all businesses must face.
Japan became the last in a long line of developed countries to have reduced their marginal corporate tax rates since 1990, a trend the U.S. has ignored. The average corporate tax rates in the developed world was 26 percent in 2010, according to the Organization for Economic Cooperation and Development (OECD).
High marginal tax rates can have a negative effect on business investment, posing a barrier for new businesses which must earn enough money to overcome the taxes they must pay. If a business cannot do that, investment becomes a losing proposition.
In other words, higher marginal tax rates make investing in existing businesses a losing affair because taxes eat up the additional revenue generated by the investment, making it harder for investors to get their money back.
The national business tax rate matters most in a world economy, Heritage Foundation tax analyst Curtis Dubay told CNSNews.com, because it means that U.S. firms cannot attract foreign investment.
“The reason why this is important is that is puts us at a disadvantage for winning the new investment that businesses are looking to undertake because the after-tax returns are going to be higher in all those countries with lower rates,” he said.
Dubay noted further that multinational corporations are more likely to locate their headquarters in foreign countries and U.S. multinationals are more likely to be bought out by their foreign competitors, because their international revenues will face lower tax rates than in the U.S.
“Because of our uncompetitive rate, we are making our multinational businesses prime targets for takeovers by their foreign competitors,” he said. “We saw this with the purchase of Anheuser-Busch by the Belgian company InBev back in 2008. The reason why InBev bought Anheuser-Busch and not the other way around was that the company was simply more valuable being a Belgian company because they have a lower corporate tax rate than the U.S.”
While domestic corporations rarely pay the full 39.2 percent business tax rate – taking advantage of every federal loophole and credit they can – in a global economy a high corporate rate means capital, and jobs, stay overseas, even for U.S.-based firms.
U.S. multinational firms must pay American tax rates on income they bring back to the U.S., if they decide to bring it back at all. Many firms merely keep the money reinvested in overseas ventures, using it to build new plants or expand existing business abroad, thus depriving the U.S. of investment capital and badly needed new jobs.
Congress has long considered a tax holiday on this type of business income, hoping the measure would entice U.S. multinationals to bring their foreign-earned income home.
A holiday would only apply for a short period of time, however. Critics argue that it would not be very effective in the long run, since U.S. multinationals would still keep income overseas once the holiday was over.
Instead, Republican leaders and even President Obama have proposed lowering the marginal corporate tax rate, to bring it closer to the OECD average in hopes of making the U.S. more competitive for foreign investment and enticing U.S. multinationals to reinvest their foreign profits in their American ventures.
http://cnsnews.com/news/article/us-now-has-world-s-highest-corporate-tax-rate
The U.S. rate is made up of the federal business tax rate of 35 percent plus the average rate from among the states. The figure does not equal what American corporations actually pay – the effective tax rate – but represents the marginal tax rate all businesses must face.
Japan became the last in a long line of developed countries to have reduced their marginal corporate tax rates since 1990, a trend the U.S. has ignored. The average corporate tax rates in the developed world was 26 percent in 2010, according to the Organization for Economic Cooperation and Development (OECD).
High marginal tax rates can have a negative effect on business investment, posing a barrier for new businesses which must earn enough money to overcome the taxes they must pay. If a business cannot do that, investment becomes a losing proposition.
In other words, higher marginal tax rates make investing in existing businesses a losing affair because taxes eat up the additional revenue generated by the investment, making it harder for investors to get their money back.
The national business tax rate matters most in a world economy, Heritage Foundation tax analyst Curtis Dubay told CNSNews.com, because it means that U.S. firms cannot attract foreign investment.
“The reason why this is important is that is puts us at a disadvantage for winning the new investment that businesses are looking to undertake because the after-tax returns are going to be higher in all those countries with lower rates,” he said.
Dubay noted further that multinational corporations are more likely to locate their headquarters in foreign countries and U.S. multinationals are more likely to be bought out by their foreign competitors, because their international revenues will face lower tax rates than in the U.S.
“Because of our uncompetitive rate, we are making our multinational businesses prime targets for takeovers by their foreign competitors,” he said. “We saw this with the purchase of Anheuser-Busch by the Belgian company InBev back in 2008. The reason why InBev bought Anheuser-Busch and not the other way around was that the company was simply more valuable being a Belgian company because they have a lower corporate tax rate than the U.S.”
While domestic corporations rarely pay the full 39.2 percent business tax rate – taking advantage of every federal loophole and credit they can – in a global economy a high corporate rate means capital, and jobs, stay overseas, even for U.S.-based firms.
U.S. multinational firms must pay American tax rates on income they bring back to the U.S., if they decide to bring it back at all. Many firms merely keep the money reinvested in overseas ventures, using it to build new plants or expand existing business abroad, thus depriving the U.S. of investment capital and badly needed new jobs.
Congress has long considered a tax holiday on this type of business income, hoping the measure would entice U.S. multinationals to bring their foreign-earned income home.
A holiday would only apply for a short period of time, however. Critics argue that it would not be very effective in the long run, since U.S. multinationals would still keep income overseas once the holiday was over.
Instead, Republican leaders and even President Obama have proposed lowering the marginal corporate tax rate, to bring it closer to the OECD average in hopes of making the U.S. more competitive for foreign investment and enticing U.S. multinationals to reinvest their foreign profits in their American ventures.
http://cnsnews.com/news/article/us-now-has-world-s-highest-corporate-tax-rate
why does the US have the lions share of Global 500's and the majority of the most profitable company's in world history then?
133 out of 500
Global 500 2011: Annual ranking of the world's biggest companies from Fortune Magazine.
Global 500 2011: Global 500 1-100 - FORTUNE on CNNMoney.com
* US manufacturing company's relocated to save on labor costs by relocating to lower wage country's, they also reap a higher return on capital due to higher interest rates in other country's. the central bank in the US has constantly lowered rates the past 30 years to fuel debt based consumption vs consumption fueled by real income growth. public and private debt is what fuels the financial sector. as income increases the amount of revolving debt decreases
Most of all the 500 companies keep their cash overseas. Maybe this is why:
Apple cash staying overseas because of taxes, company says
http://www.politico.com/news/stories/0312/74184.html
the US is a low tax country, it isn't now nor was ever the problem with the US economy. tax collection on corporate profits and income and capital is at a 60 year low. as usual Heritage is wrong about everything.
http://www.americanprogress.org/issues/2011/06/pdf/low_tax_graphs.pdf
the reason why foreign multinationals are located in other country's is because that's where their business is. only 20% of the US economy is based on trade consumption accounts for 80%.
the US only has equal trade with several country's most are not balanced at all. this is because they don't need what we are selling.
Ranked by 2011 U.S. Total Export Value for Goods (in millions of U.S. dollars)
http://www.trade.gov/mas/ian/build/groups/public/@tg_ian/documents/webcontent/tg_ian_003364.pdf
taxes are at a 60 year low, obviously not the problem. and what difference does it make if Apple did bring those profits back into the US, it doesn't help the economy.
do you know what happened in 2004 when US multinationals got a tax holiday to bring in those foreign profits? they promised they would re-invest those monies in the US but what they did was used it for stock buy-backs and then outsourced more jobs.
you live in a fantasy world where large firms care about US citizens, not there problem. maximizing profits and keeping shareholders happy is the primary goal of the large for profit company. Apple is one of the most profitable company's in world history and you know what they gets their employees? the right to pay full price for all Apple products, they receive 0% discount. And I know this because I perform all the upgrades on their Cisco gear, I'm in those stores all the time.
Corporations that take tax holiday slash jobs
http://www.ips-dc.org/files/3705/america_loses_corporations_that_take_tax_holidays_slash_jobs.pdf
U.S. taxpayers provided a huge subsidy to corporations that destroyed jobs. Following a tax holiday on repatriated foreign
earnings in 2004, 58 corporations that benefitted from the holiday slashed a total of nearly 600,000 jobs. These 58 giant corporations accounted for nearly 70 percent of the total repatriated funds and collectively saved an estimated $64 billion from what they otherwise would have owed in taxes.
• These companies have huge cash reserves. Despite claims that repatriation of off-shore earnings is needed to create U.S. jobs, these 58 firms are collectively sitting on more than $450 billion in cash, money that could be invested in job creation tomorrow, if these corporations wished to do that.
• Tax holidays encourage aggressive profit shifting. The shifting of profits offshore has accelerated dramatically since the 2004 tax holiday, suggesting that firms are counting on repeated tax holidays. A year after the 2004 tax holiday, job-destroying corporations had $229 billion in untaxed offshore profits. By 2010, this amount had soared to $696 billion, a 204 percent increase over five years.
• Expanding off-shore tax avoidance. Some offshore profits stem from legitimate business operations overseas. But a substantial Institute for Policy Studies share of these offshore profits come from accounting acrobatics that shift profits
generated from sales in the United States to foreign tax havens where corporations face
little or no income tax.
irish_2003
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so Lam what is your plan or what do you propose be done to fix it? i've yet in hundreds of posts seen you post what you think should be done...you only ever post trends, stats, other copy and paste articles, and say what's wrong but you never ever say what should be done to fix the problem...i'm not gonna get in a pissing match with you, but let's hear it for once...or do you not have a viable solution like the rest of the liberal leftists and continue to play the blame game? over 1000 days and counting with no budget...
Fuck 80% of them are niggers that wouldnt work if they had to. Look at Africa nothing there was built by niggers , everything that is is over 1 story tall was made by white people.Look at housing ,mud and sticks for hundreds of years while the rest of the world builds high rises .when south Africa was turned back over to black leaders it turned in to chaos and rape and pillage . New Orleans fucking mess, LA riots, everytime they are in control it has to be chaos. My opinion there going to be the countries down fall.
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the first thing you would want to do is reverse any bad legislation that has been proven to be detrimental to the overall function of the US economy. re-instate Glass-Steagal, break up the 2-big-to-fail banks, heavily regulate derivatives, end speculation in commodities trading for those that do not have the means to actually take possession of that commodity. make the US federal tax code more progressive, etc. and attempt to optimize the use of tax dollars. US workers at the lower income quintiles have basically been priced out of being able to actively participate in the US consumption based economy. with 55% of US workers pulling in $13K in 1988 dollars how much are these people supposed to consume in reality? the bare minimum. increasing inequality in wages is why the FRB has constantly lowered the federal funds rate to keep the debt based consumption going which also empowers the financial sectors which relies on debt. with less inequality in wages interest rates could be raised and it would be easier for all to make a return on various investments with out having to partake in increasing riskier and riskier practices to do so. the US has more recessions than any other wealthy industrialized modern country on the planet, country's with inequality that isn't so extreme are paying substantially higher taxes, contributing substantially more to social protections as a percentage of GDP, are healthier, take more vacations, live longer all the while matching our real GDP growth.
but none of these things will be done as the past 30-40 years is proof-positive that things are going to continue to track down in the US. economics isn't rocket science, there are hundreds of country's out there and we have hundreds of years of economic data to look back on to see what has and hasn't worked. the US is a very radical country and takes everything to the extreme, most that have never left the states would never know this as the media monopoly skews the real world to suit the current agenda.
we could go on and on about politicians, the central bank, lobbying, etc..etc..etc..but these problems are all hundreds of years old. in the 1800's the founding fathers were well aware of the effects of fractional reserve banking and having a foreign owned central bank controlling monetary policy, they tried to fight it and lost. many of the problems in the US are institutional and not so easy fixed.
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The can go back to whatever shitty third-world countries they come from.
despite the fact that you are obviously either retarded or of diminished capacity your opinion is duly noted. sadly it's cretins like you that are why the south never changes it's shitty in 2012 and it sucked in the 1700's. your understanding of economics and knowledge of world history might fill up half a page of paper.
you blame blacks for all the problems in the US so then why do the country's all over europe and the soviet states that are devoid of blacks have the exact same problems? my guess is your ignorant broke ass has never left the US so the only things you actually know about the world you saw on tv.
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I grew up about a block away from the projects , i lived in a two bedroom house with my dad and 3 brothers , i know what poor is. I was able to pull my self out of that mess and now i probably pay more in taxes per year that you make, it came with a lot of hard work. something i NEVER see black people do. drive through a black neighbor hood during work hours , make sure its after 3pm so they will be out of bed. youll see what im talking about. I sent my daughter to a private school so she could be away from scumbags and niggers, in the 10th grade she wanted to finish out high school in a public school , I remember her saying blacks are just like everyone else. After 6 months in a public school she comes home saying i cant stand niggers. its not just me brother. Black people are different we just need to make them be responsible. for there actions, as long as there are people like you that give them a free pass because there black it wont change.
