Not suprisingly the Economist noted article the following: 'Liberal analysts blame the tax code for a different reason: it allows multinationals to stash income in foreign havens and indefinitely defer taxes on it, encouraging the outsourcing of jobs'...
Apparently common sense and liberal analysis are just two ships passing in the night...
I wonder what these 'liberal analysts would say of Bill Wittle's EAT THE RICH clip?
I still can't get my head around the obivious answer when yet another bizzare line from the Economist article comes to a close: 'Dave Camp, the chairman of the tax-writing committee in the House of Representatives, last fall proposed lowering the corporate rate to 25% and exempting most foreign-source income from tax altogether. However, he is even less precise than Mr Obama on how the lost revenue would be made up'...
America had a lower tax rate than the OECD average in the mid 90s. But now that other countries are forced to compete with each other on 'price', the US is still arrogant enough to think it does not have to be competitive.
Corporations can move to where taxes are lower. That governments are being forced to compete on tax-friendliness is a welcome development that is long overdue.
i finally decided to take advantage of his prowess as a contrary market indicator and bought some TZA (triple short small cap) when he began crowing about dow 13000 last week. (just for my PA)
just sold them for a tidy profit.
(18.18 to 19.21 in one day)
i will think of you when i go find myself a nice birthday present.
"You know that entitlement programs are financed by payroll taxes, right? So cutting entitlement outlays means you can cut payroll taxes. "
Nonsense. All the taxes come out of my same pocket and go to the same money pit in D.C. Payroll vs. FICA,etc are just accounting fictions. Besides, both SS and Medicare run into the red nowadays. And Obama swiped $500billion out of Medicare to help pay for his health care boondoggle. Bottom line: no reason why it couldn't simply be cut.
"What's a matter Juandos? You pee in your panties at these solutions? Run back to the GOP tutu-party."
God, you're an idiot. You think your boyfriend will sign onto zeroing out HUD?
if there were really different pools, then there would be a social security "trust fund" instead of a pile of IOUs that need to be paid out of income tax.
All the posts are irrelevant because the premise is not correct. The effective corporate tax rate in the US is closer to 25% and among the lowest in OECD. Again, this blog posts irrelevant and meaningless data on taxes. Whatever!
All the posts are irrelevant because the premise is not correct. The effective corporate tax rate in the US is closer to 25% and among the lowest in OECD. Again, this blog posts irrelevant and meaningless data on taxes. Whatever!
an interesting addition to this chart might be the lowest rates.
ReplyDeleteyou don't compete with an average price, but the best one.
Not suprisingly the Economist noted article the following: 'Liberal analysts blame the tax code for a different reason: it allows multinationals to stash income in foreign havens and indefinitely defer taxes on it, encouraging the outsourcing of jobs'...
ReplyDeleteApparently common sense and liberal analysis are just two ships passing in the night...
I wonder what these 'liberal analysts would say of Bill Wittle's EAT THE RICH clip?
I still can't get my head around the obivious answer when yet another bizzare line from the Economist article comes to a close: 'Dave Camp, the chairman of the tax-writing committee in the House of Representatives, last fall proposed lowering the corporate rate to 25% and exempting most foreign-source income from tax altogether. However, he is even less precise than Mr Obama on how the lost revenue would be made up'...
ReplyDeletePretty simple, quit spending the money...
This chart tells me one thing : hubris.
ReplyDeleteAmerica had a lower tax rate than the OECD average in the mid 90s. But now that other countries are forced to compete with each other on 'price', the US is still arrogant enough to think it does not have to be competitive.
Corporations can move to where taxes are lower. That governments are being forced to compete on tax-friendliness is a welcome development that is long overdue.
Actually, why does this chart end in 2010?
ReplyDeleteThe UK lowered rates after that, and Japan is soon about to.
If the chart extended until now, the US would look even worse.
juandos: "Apparently common sense and liberal analysis are just two ships passing in the night..."
ReplyDeleteGood one. Thanks.
Juandos-
ReplyDeleteOkay, "quit spending the money."
You know that entitlement programs are financed by payroll taxes, right? So cutting entitlement outlays means you can cut payroll taxes.
But to cut income taxes, you have to cut federal agency outlays.
So, to quit spending corporate income tax money, you have to cut federal agency outlays. Fine by me, Jack.
Below are federal agencies by employment. Where do you cut?
Defense 3,200,000
Veterans Affairs 240,000
Homeland Security 200,000
Treasury 162,119
Justice 124,870
USDA 100,000
DOT 100,000
Health and Human Services 62,999
Interior 57,232
Commerce 41,711
NASA 19,198
EPA 18,879
State 18,000
Labor 16,818
Energy 14,000
GSA 14,000
I have yet to have a GOP'er respond intelligently to this query.
Some true right-wingers, like Ron Paul, do answer correctly.
Wipe out overseas bases, cut military spending by 70 percent, privatize the VA, wipe out the USDA, Commerce and Labor and HUD.
And put airline security back onto the airlines and wipe out Homeland Security.
What's a matter Juandos? You pee in your panties at these solutions? Run back to the GOP tutu-party.
Hey ron h, which links weren't working?
ReplyDeletepseudo benny I don't know where you get your numbers and apparently the content in the link (did you actually read it?) wasn't clear enough for you...
ReplyDeleteO.K. so let's try this tact, how about cutting everything in this Catalog of Federal Domestic Assistance?
juandos: "Hey ron h, which links weren't working?"
ReplyDeleteNone of the tinyurl links were working, but now they are. Go figure.
off topic:
ReplyDeletemy thanks to benji.
i finally decided to take advantage of his prowess as a contrary market indicator and bought some TZA (triple short small cap) when he began crowing about dow 13000 last week. (just for my PA)
just sold them for a tidy profit.
(18.18 to 19.21 in one day)
i will think of you when i go find myself a nice birthday present.
Benji,
ReplyDelete"You know that entitlement programs are financed by payroll taxes, right? So cutting entitlement outlays means you can cut payroll taxes. "
Nonsense. All the taxes come out of my same pocket and go to the same money pit in D.C. Payroll vs. FICA,etc are just accounting fictions. Besides, both SS and Medicare run into the red nowadays. And Obama swiped $500billion out of Medicare to help pay for his health care boondoggle.
Bottom line: no reason why it couldn't simply be cut.
"What's a matter Juandos? You pee in your panties at these solutions? Run back to the GOP tutu-party."
God, you're an idiot. You think your boyfriend will sign onto zeroing out HUD?
paul-
ReplyDeleteagreed.
if there were really different pools, then there would be a social security "trust fund" instead of a pile of IOUs that need to be paid out of income tax.
Professor, you should cover the *full* picture by posting about the *real* tax rate that is paid by the top 10 or 500 corporations.
ReplyDeleteTheir tax rate is not even 10%.
Examples:
http://www.nowandfutures.com/download/d4/tax_liabilities_us_corporations1998-2005(gao2008).pdf
bart-
ReplyDelete"Professor, you should cover the *full* picture by posting about the *real* tax rate that is paid by the top 10 or 500 corporations.
Their tax rate is not even 10%."
that's simply not true.
it's certainly true of a few, but he S+P 500 as a whole pays over 32%.
http://www.realtaxpolicy.com/archives/936
no question, the tax returns of firms like GE are pretty ridiculous, but hey, that's the life of a rent seeking corporate state suckup for you.
many that pay low rates do it by locating divisions abroad.
they would not need to do that if our rates were lower.
but blaming them for doing so (legally) is like safeway complaining that you saved money by going down the street to costco.
All the posts are irrelevant because the premise is not correct. The effective corporate tax rate in the US is closer to 25% and among the lowest in OECD. Again, this blog posts irrelevant and meaningless data on taxes. Whatever!
ReplyDeleteAll the posts are irrelevant because the premise is not correct. The effective corporate tax rate in the US is closer to 25% and among the lowest in OECD. Again, this blog posts irrelevant and meaningless data on taxes. Whatever!
ReplyDelete