So, this is a pipedream in your opinion?

 

Safe bet.

Well at 3:30ish they should be here like they were in this thread then:

http://bluegrasspreps.com/kentucky-national-politics/another-billion-dollar-280540.html

 

That rhetoric makes me insane. I hated it in 2003 when people were hurling it at anti-war protestors and I hate it now about people angry with companies doing what's best for shareholders and investors.

Safe bet.

 

Yeah. The lobbyists will be all about the reduction in rate, but they'll never get it through the senate without the other stuff.

The US's corporate tax rate is something like the second or third highest in the developed world at 35%. But, the US hasn't collected 35% of taxable corporate revenue. The GAO estimates the average is 12.5% and the US collects just about what its developed peers do in terms of percentage of GDP.

 

I'd be all for a plan like Getslow's that brings the statutory rate down to something like 10% and eliminates exemptions. But, I'm extremely skeptical that there'd be any traction in making the tax law any less convoluted. There are companies that can make out pretty well by navigating it. I also think the nature of the "global economy" undermines any one state's ability to regulate this issue. The US could pass some kind of draconian law regarding companies incorporated in the US but keeping their taxable assets overseas, but that would just mean they'd uproot from the US entirely.

If the Democratic Party made a collective effort to talk about just how much the two things listed above would help small companies while making sure that massive multinationals paid their fare share, I don't think it's that tough of a sell.

 

But selling that concept to the party strategists in the first place will be VERY difficult. Reasoning with these hyper-politicized attack dogs that work for the party and for individual lawmakers is not the easiest task.

 

And I specifically did not say Democrats...but Liberals, because I have to believe that among the Democrats there are moderate members who can get beyond the rhetoric and support sound strategic decision-making with the country's interests at hand. In fact, maybe there is a better term for the people I am labeling liberal....:sssh:

The two points GetSlow made are needed. Also like I stated the Rand Paul idea of the tax forgiveness to go along with those two ideas to bring those assets back to the United States at a very discounted rate. All people who understand business on both sides of the aisle understand there is a problem. Hyperbole such as calling these companies unamerican or not patriots for obeying American law isn't helping anything. It only further creates division in this country. If the companies were doing anything illegal I'd be the first to want to prosecute them. The fact is they are not and they would be bad businessman if they didn't do everything in their power to make as much money as possible for their shareholders.

 

Fixing this problem is actually a simple one. It just takes adults we lack in D.C.

And I specifically did not say Democrats...but Liberals, because I have to believe that among the Democrats there are moderate members who can get beyond the rhetoric and support sound strategic decision-making with the country's interests at hand. In fact, maybe there is a better term for the people I am labeling liberal....:sssh:

 

Dirty pinko commie leftist traitors?

 

Just trying to get them all in at once...

 

In truth, there is a part of me that wants to see Elizabeth Warren run in a primary against Hillary to see those two wings of the Democratic Party go at each other. Both the Clintons represent that more moderate (no matter what the right has to say about her, this is not one of her faults) Wall Street side of the party. Elizabeth Warren is a real, fire-breathing progressive populist. I'd be interested to see what the two wings of the party have to say to each other in a real election battle.

Two wings, interesting:

 

 

BOOOOOOOOOOOOOO...

Dirty pinko commie leftist traitors?

Just trying to get them all in at once...

 

That's it!!

BOOOOOOOOOOOOOO...

 

You chuckled, even if in narrator voice.

Obama Seeks Executive Ways to Limit Tax Inversions

 

Am I crazy or does this have a remarkably easy solution that could probably bring in people from both sides of the aisle?

 

1) Reduce the overall corporate tax rate. It would instantly reduce the burden on smaller firms and probably lead to a boon in hiring.

 

2) Eliminate loopholes by simplifying the tax code.

 

It seems like this would immediately raise taxes on large companies abusing the loopholes in the current system and lower taxes on companies paying an exorbitant 35 percent.

 

I would think the right would be crazy about a reduced overall rate and the left would love eliminating huge loopholes that allow the country's largest companies to pay less than smaller ones. Am I missing something or is this just too easy for the current Congress and Chief Executive to wrap their heads around?

 

I think the president has already said he's support something like this (which probably doomed it from the beginning), but with a system in which two hypothetical companies are incorporated in the same way under the same law and under which Company A is paying a full 35 percent while Company B is paying practically zero, something needs to change.

 

 

Well, you just killed some of my job prospects, but otherwise, I like it. And I do actually agree.

Well, you just killed some of my job prospects, but otherwise, I like it. And I do actually agree.

 

You're entering a profession where the world would probably be a better place if most of the things you did... didn't exist. But the world is a complicated place with lots of problems and someone has to handle it.

 

I do a lot of elder law. The world would DEFINITELY be a better place if my job (sifting through Medicare and Medicaid regulations plus other state and federal law to make sure meemaw and pop-pop are taken care of in their final years) was unnecessary. But it isn't.

 

Coming to terms with the fact that I work in a profession in which I would actively campaign for my job to become obsolete has been an ongoing process. Some days are better than others... :lol2:

How dare they escape the Federal Reserve....it could start a war...

 

Walgreens bowed to hometown pressure and will not relocate overseas after their merger goes through.