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Politics : PRESIDENT GEORGE W. BUSH
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To: Bill who wrote (456141)9/10/2003 1:20:32 PM
From: Lizzie Tudor  Read Replies (3) of 769670
 
Now, I challenge you to find a way that a corp can extract that 100K savings from the company (attained by shipping a job offshore) without paying at least as much fed tax as retaining the employee here. Can't be done.

You have GOT to be kidding.

I challenge YOU to prove that 100K in additional cost savings -
1. means a direct additional 100K in profitability
2. means a corporation will pay 43K in taxes for that additional 100K in profits. a 43% tax rate.

Can't be done.

Of course people reading this know that corporation X isn't going to pay the gov't 43K in taxes for every 100K of profit they make, it is just ridiculous Bill. Only individuals pay that, or individuals + corp contributions to the "insurance program" <wink wink> that is Social security. Corps pay much less, which is why corp taxes only account for 10% of Federal tax revenue according to

You are trying the old "high school debate trick", focussing in on irrelevant details like rate vs. proportion and "prove this negative" etc.

If offshoring is so good for tax revenues, where did that 150 billion go when the deficit was increased from 300-450? We both know 150 billion didn't go to additional expenditures for Iraq.

BTW on this page, taking the year 2000, corps paid only 235 billion total out of 2.1 trillion in tax receipts. 2000 was a BANNER YEAR for profits, we will be lucky if we see numbers like that again even with offshoring up the wazoo. In 2000, corps paid less than half of our current deficit in taxes!!!
taxpolicycenter.org
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