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To: GROUND ZERO™ who wrote (50518)5/21/2013 10:00:44 AM
From: Kirk ©2 Recommendations  Read Replies (3) | Respond to of 220625
 
yup I agree we should find a way to let corporations pay zero on income earned overseas.
in fact, I think corporate taxes should be set at 0%, their profits are already sent to the shareholders who already pay taxes on that same money, how many times should that same dollar be taxed?
I guess you have John McCain in the "Liberal Moron" camp now.
Frankly, if the tax rate for corporations were set at 0%, then we would see an economic boom in this country like we've never seen before... but try to explain that to the liberal minded morons...
www.moneynews.com/FinanceNews/McCain-Apple-Tax-avoider/2013/05/20/id/505445
"Apple claims to be the largest U.S. corporate taxpayer, but by sheer size and scale, it is also among America's largest tax avoiders," Senator John McCain of Arizona, the panel's top Republican, said in a statement. "A company that has found remarkable success by harnessing American ingenuity and the opportunities afforded by the U.S. economy should not be shifting its profits overseas to avoid the payment of U.S. tax, purposefully depriving the American people of revenue."
BTW, they will CONTINUE to shift jobs overseas to use the money earned there to pay salaries. We did it at HP starting back in the 1970s. First thing I remember when I got a summer intern job at HP in 1978 was all the workers doing assembly started to lose jobs as we moved them overseas as overseas sales started to take off. By the time I left 20 years later, I was training engineers from Singapore to do R&D jobs that I was training engineers from MIT, Stanford and Berkeley to do 10 years before...

High tax rates in Silicon Valley, especially the property taxes on new equipment, forced almost ALL semiconductor manufacturing out of the area. Who wants to pay property tax on a $5B chip plant?

BTW, I think the trick is to recognize the "velocity of money" and let Apple and others that employ US workers deduct from taxes owed more than what they deduct for payroll taxes. A dollar in new salary probably generates many dollars of economic activity in the worker's town.....



To: GROUND ZERO™ who wrote (50518)5/21/2013 12:07:47 PM
From: NOW1 Recommendation  Read Replies (1) | Respond to of 220625
 
you mean like the glory days of our country, the postwar era when corporate taxes were at an all time low...err scratch that



To: GROUND ZERO™ who wrote (50518)5/21/2013 12:14:33 PM
From: Hawkmoon3 Recommendations  Read Replies (1) | Respond to of 220625
 
I think corporate taxes should be set at 0%
I used to think that way, but I've some hesitations now.. Understand your point that the shareholders pay the tax through capital gains taxes.. But what if the majority of those shareholders are foreign based entities (hedge funds.. etc)??

How is APPL avoiding paying taxes, right?

Why should wage earners be taxed via the income tax, when shareholders have paid those taxes as part of the company's operational expenses, right? And then why should "savers" (investors and depositors), who are generally also wage earners saving their already taxed income, be taxed, right?

I recall reading once about a 1% VAT or national sales tax.. I think that percentage is quite a bit below where it needs to be, but I like the idea that if you consume, you pay taxes.. A manufacturer purchasing raw materials to produce a refined good would pay the tax on those materials. Then the customer of their product would pay a tax, and so on...

Someone has to pay for the infrastructure and gov't services we enjoy.. (bloated as they are).. And corporations use that infrastructure as well.. and they enjoy the protections of our national defense..

I just think so much economic growth is lost due to the nefariously complex tax regulations. Simplify it, equalize it.. and make gov't live within a reasonable budget, and I think it would revitalize this economy overnight.. It would definitely provide incentives to policy makers to have economically friendly policies that grow revenues..

Just my .02 worth..

Hawk




To: GROUND ZERO™ who wrote (50518)5/21/2013 12:36:05 PM
From: yard_man2 Recommendations  Read Replies (1) | Respond to of 220625
 
liberals don't get the double taxation argument ... it's all about envy. This AAPL thing is a convenient distraction right now