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Non-Tech : Kirk's Market Thoughts
COHR 178.290.0%3:59 PM EST
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From: Jerome5/2/2014 8:57:04 AM
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The case for taxing overseas profits.....everyone loves a free ride and American companies are no exception.

Case in point: The Financial Times had a recent article about Google.

Google does a big business in France, but you would never know it by looking at the annual report of Google..

All French contracts that Google initiates in France are Routed through Ireland, because Ireland has a much lower tax structure of 0 concerning these types of transactions.

The French government got interested because profits in Ireland were many times the gross sales.

So the French government got tough and demanded tax payment from Google based on their assessment of what was due.

I realize thay many American companies do this... HPQ was manipulating its profits to show up in countries that had no significant tax structure.CSCO and GE also joined this tax dodging system

So what's the big deal....????? Well its like this ....We have a huge national debt that all politicians of both parties want to reduce. And if companies continue to abuse the system we citizens have to make up the difference. The current corporate tax rate is the lowest since the Eisenhower administration.

So the question becomes...should we raise individual taxes ..or should we demand that corporations pay a fair share.?

I do not believe in welfare for America's wealthy companies.

The idea that everyone does it....is not a valid argument.

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