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I finally know who I'm writing in for President.
DO NOT VOTE FOR CLINTON!iow, America is ed and un able. The 1% and BigCorp continue to amass unknown $Ts and political power to buy enough govt to keep that ball rolling over the 99%.
any suggestions how to un America?
I finally know who I'm writing in for President.
Perhaps you need to look into a tax dodging scheme as described above. Apparently, there's nothing illegal about them.
The real question is if you need to be too big not to be chased around by the IRS.
Too busy doing what my business does (and/or doing SpursTalk)
there are no remedies, because all remedies come from legislatures which are corrupted by BigMoney (although some legislators are really "value priced")
Last edited by boutons_deux; 09-23-2016 at 06:33 PM.
sameToo busy doing what my business does (and/or doing SpursTalk)
how big you are matters. compliance is much harder for companies without a war chest.
that's a feature, not a bug.
maybe the big boys need a kick in nuts
Olly olly oxen free:
https://theintercept.com/2016/10/19/...orate-tax-cut/Chuck Schumer, likely to be majority leader next year if Democrats take back the Senate, told CNBC Tuesday that one of his top two 2017 priorities would be an enormous corporate tax cut.
Speaking of himself in the third person, Schumer said that “we’ve got to get things done. … The two things that come, that pop to mind — because Schumer, Clinton, and Ryan have all said they support these — are immigration and some kind of international tax reform tied to a large infrastructure program.”
American multinational corporations are now holding a staggering $2.5 trillion in profits overseas, refusing to bring the money back at the current tax rates until they get a special deal.
Revenue-starved Democratic leaders have broadly hinted they are prepared to cave, either for a “holiday” period or permanently.
Nasty woman: Hilary Clinton plots in secret with insurance brokers to cut corporate taxes.
Hillary Clinton has not publicly supported such a plan. However, during a private October 13, 2014, speech to the Council of Insurance Agents and Brokers, Clinton told the audience that “A number of business leaders have been talking to my husband and me about an idea that would allow the repatriation of the couple trillion dollars that are out there. And you would get a lower rate — a really low rate — if you were willing to invest a percentage in an infrastructure bank.”
http://www.nakedcapitalism.com/2016/...in-the-us.htmlBut here’s the thing. In May 2013, Apple got into a pickle because it had decided to fund its stock-buy-back and dividend program by taking on a record $17 billion in debt rather than “repatriating” part of its “offshore” cash and paying income taxes on it.
The Senate subcommittee investigation and hearings, chaired by Senator John McCain, showed that Apple had sheltered at least $74 billion from US income taxes between 2009 and 2012 by using a “complex web” of offshore mailbox companies. The investigation found untaxed “offshore” profits of $102 billion held by Irish subsidiaries – which Apple refused to “repatriate” in order to keep that income from being taxed in the US.'
But according to the Senate report, Apple doesn’t have to repatriate that moolah because it’s already in the US. The Irish mailbox subsidiaries, on whose books this money is for tax purposes, transferred it to Apple’s bank accounts in New York. The money is managed by an Apple subsidiary in Reno, Nevada, and is invested in all kinds of assets in the US. Apple’s accountants in Austin, Texas, keep the books,
Money doesn’t stop at borders. Tax accounting does.
These revelations explained another corporate mystery that had long baffled economists. In 2004, after heavy lobbying by our Corporate ans, Congress declared a “repatriation holiday” to encourage the “return” of $300 billion in overseas cash to be invested in the US. This would cause a burst of investment and hiring in the US, it was said. This was similar to what Moody’s is now clamoring for on behalf of its clients, except this time, they want permanent tax reform rather than a one-time “repatriation holiday.”
So in 2004, our heroes made some adjustments on their books to “repatriate” these profits that were then taxed at the special and minuscule rate of 5.25%, less than the payroll taxes withheld from their US working stiffs.
And then nothing happened. There were no investments and no hiring and no benefits for the economy because the money had already been deployed in the US, as we now know. In May 2013, as a result of the Senate hearings, the New York Times summarized the 2004 phenomenon this way:
On the contrary, some of the companies that brought back the most money laid off thousands of workers, and a study by the National Bureau of Economic Research later concluded that 92 cents on every dollar was used for dividends, stock buybacks or executive bonuses.
the richest companies in the world still not paying their fair share:
http://gabriel-zucman.eu/missingprofits/By combining new macroeconomic statistics on the activities of multinational companieswith the national accounts of tax havens and the world’s other countries, we estimate thatclose to 40% of multinational profits are shifted to low-tax countries each year. Profitshifting is highest among U.S. multinationals; the tax revenue losses are largest for theEuropean Union and developing countries
Throughout the world, for one $1 in wage paid, US multinationals say they make around 50 cents in (pre-tax) profits.
Except in Ireland, Bermuda, Luxembourg and the like, where they say they make... 3.5 dollars.
The '70s/'80s push for globalization was not only for exporting jobs and factories from USA to low-cost/unregulated countries, but for the free movement of capital, resulting in $Ts sloshing around the planet, searching for greater returns, causing booms and busts, and Capitalism's infamously destructive financial/social instability. And of, $Ts of that capital escapes taxes
Last edited by boutons_deux; 06-11-2018 at 07:48 AM.
If only someone would have the power to do so.
It's an unlikely scenario, unfortunately.
_______________________________________
Marius
transfer pricing outsourcing services
the only countervailing power is govt, and govt is now owned and operated by BigCorp/wealthy/oligarchy, with the anti-American Repugs (politicians and judges) doing the dirty work.
Even the Dems are compromised by progressive BigDonor, who, even if progressive on social matters, are as protective of their fantastic wealth as right wing BigDonors.
Repugs will never make progress (see the DNC blackballing challengers to Dem in bents), and the Dems refuse to be progressive, so ...
America is ed and un able.
Imagine that Dems retain the House, win 51 or more in the Senate, and take the WH, they simply will not be able to reverse the damage done over the past 10 years by the Repugs.
eg, restore $500M that Repugs cut from the IRS? G M A F B
eg, Dems impeach Kavanaugh for lying to Congress under oath? an open-and-shut case to remove him from SCOTUS, but Dems don't have the hardassness to do it.
Last edited by boutons_deux; 08-01-2019 at 09:26 AM.
The IRS has basically admitted it lacks the resources to go after wealthy tax dodgers and corporations.
After the 2017 tax cut. 91 Fortune 500 companies made 101 billion in profits, but paid zero federal tax.
https://www.washingtonpost.com/busin...nt-trumps-law/
From 2010, the Repugs cut almost $1B from IRS funding, just what the oligarchy ordered to become unaudited.
So yes, the IRS only goes after easy, simple returns by the bottom, doesn't have the resources for intentionally tax-evading hyper-complex stuff like Trash's 500 companies.
cool idea
Waiting to hear from ducks that he will no longer buy items from linkedin.
LinkedIn billionaire: Cut off funding for politicians who limit voting rights.
A growing number of CEOs are speaking out on voting rights. LinkedIn co-founder Reid Hoffman is urging business leaders to back up their verbal support with concrete action that will send a message to politicians.
"Protecting voter rights and making voting more accessible is both pro-business, and more importantly, pro-American," Hoffman told CNN Business in an email.
The billionaire investor hopes companies will withhold economic support from politicians who seek to limit the right of any American citizen to vote.
I believe that companies who show a strong support for American values and the right to vote for all citizens may gain more business and elevated brand value,"
"This should be a simple, single-issue reason to stop supporting any politician," said Hoffman, who was LinkedIn's founding CEO.
https://www.cnn.com/2021/04/19/busin...din/index.html
no taxes for Tesla
https://truthout.org/articles/tesla-...ion-in-income/Elon Musk’s Tesla paid a total of $0 in federal income taxes in 2024, new tax reports show, despite the company having raked in billions of dollars in income and being the most valuable car company in the world.
Citing Tesla’s year-end financial reportreleased this week, the Ins ute on Taxation and Economic Policy (ITEP) reports that Tesla paid a 0 percent federal income tax rate last year, even as the company reported $2.3 billion in income.
In 2023, Tesla paid $48 million in taxes on $3.1 billion in income — a 1.5 percent rate. And, in 2022, when it reported $5.5 billion in income, Tesla also paid a 0 percent tax rate.
This brings Tesla’s average tax rate over the past three years to 0.4 percent, or 50 times less than the statutory corporate tax rate of 21 percent.
This is despite the fact that Tesla is valued at over $1.2 trillion and is owned by the richest man in the world, with a net worth of over $400 billion and who was awarded a $101 billion pay package by Tesla shareholders last year — though this package has been rejected by a judge.
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