ThePriestess is offline ThePriestess Post #11  July 9,2010, 5:27pm
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Can_I_just_be_Jo wrote :
The revenue is already lost, it isn't coming back, it is a sunk cost. Ignoring the money is allowing it to be used for growth overseas. I am not saying I am right but it seems the only way we can make any tax revenue off it is bring the assets back under US control. Since we can't compel them we bribe them.
Why can't we compel them?

I see the scenario as one in which loopholes are enabling unfair practices ... unfair to you, to me, and to other individuals and businesses.

If we allow them to continue or increase, by making affordances for these endeavors, then wouldn't that create an unfair scenario for those businesses not taking advantage, encouraging others to do the same?
 
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jayjay is offline jayjay Post #12  July 9,2010, 5:29pm
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...things seem to have gotten quiet around here.

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Eliminating the tax on repatriating this money probably would increase some business investment....but I actually wonder if it wouldn't be as large an amount as one might initially think. It may be that businesses still wouldn't consider the U.S. the best place to invest. After all, the U.S. is at or near the top of the list in corporate tax rates and there are continually new legislated expenses, regulations and massive amounts of paperwork to be done (but good for accountants like you though, Jo. ). Highest corporate tax rate and high wages that need to be paid (relative to many places in the world).....in other words, why invest here if you can invest elsewhere?
 
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suzyque is online now suzyque Post #13  July 9,2010, 5:56pm
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JayJay's got a point, exactly what I was thinking. If we lifted the tax rate for these offshore companies are we sure they'd invest here? But still JayJay, other countries look at the US as a opportunity. We have great natural resources and workers. The regulations are meant to protect the public, environment and workers themselves but I suppose they are getting out of hand. Didn't exactly protect our ocean from BP's oilspill.

I had no idea this was going on Jo. I really like the idea...especially the part where you mentioned a free stimulus. As I see it, it is a (potential) stimulus package that wouldn't raise our national debt with government money, in addition to creating jobs.
 
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Can_I_just_be_Jo is offline Can_I_just_be_Jo Post #14  July 9,2010, 6:23pm

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TP international tax is guided by our tax code and treaties. Changes on how we treat foreign earned revenue would be reacted on much in the same way tarriffs would. More so we would have to rely on the country we are taking the money from to just hand it over. Won't happen.

Jayjay America has the best patent protection laws in the world. In a high tech world that is worth a lot. There is almost no protection in China. Here we have a clear advantage. We also protect privacy better than the Swiss. Our failing is high corporate taxes.
 
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ThePriestess is offline ThePriestess Post #15  July 9,2010, 7:19pm
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Can_I_just_be_Jo wrote :
TP international tax is guided by our tax code and treaties. Changes on how we treat foreign earned revenue would be reacted on much in the same way tarriffs would. More so we would have to rely on the country we are taking the money from to just hand it over. Won't happen.
I know the situation is complicated ... far more complicated than I will ever hope to understand because I have no desire (I'm an engineer type, not an economics type).

I don't know if simply saying there is no possibility is the right solution though. Surely there is a potential solution other than allowing U.S. companies to effectively rob our nation ... and by nation, I mean us ... the people.
 
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Can_I_just_be_Jo is offline Can_I_just_be_Jo Post #16  July 9,2010, 7:56pm

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ThePriestess wrote :
I know the situation is complicated ... far more complicated than I will ever hope to understand because I have no desire (I'm an engineer type, not an economics type).

I don't know if simply saying there is no possibility is the right solution though. Surely there is a potential solution other than allowing U.S. companies to effectively rob our nation ... and by nation, I mean us ... the people.
I had considered that congress could restrict what the tax free money could be used for but in light of the ear marking addiction Congress appears to have that doesn't seem to be an efficient use of resources. Add to that Congress sucks at writing and understanding what the write any accountant will be able to drive trucks through the loopholes.

I am sure there is a good solution I just don't think congress will find it.
 
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ThePriestess is offline ThePriestess Post #17  July 9,2010, 8:23pm
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Can_I_just_be_Jo wrote :
I am sure there is a good solution I just don't think congress will find it.
Maybe ... I think they "could" find it, but our government is so mired by political party control it's insane. We stopped being a nation of the people and for the people a long time ago =(
 
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jayjay is offline jayjay Post #18  July 10,2010, 11:45am
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...things seem to have gotten quiet around here.

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Can_I_just_be_Jo wrote :
Jayjay America has the best patent protection laws in the world. In a high tech world that is worth a lot. There is almost no protection in China. Here we have a clear advantage. We also protect privacy better than the Swiss. Our failing is high corporate taxes.
I don't see how that would affect repatriating money. I do see it being an advantage for a company to register a patent here if they wish to sell their products in the U.S. However, I don't see as there would be any need to 'invest' in the U.S. to do this.....they only need to sell their product here (as well as in the rest of the world) and keep others from doing the same by having a patent here. For an international company based in the U.S., if they want to sell their product in China they have the same problem regardless of what country they are based in. No?
 
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Can_I_just_be_Jo is offline Can_I_just_be_Jo Post #19  July 11,2010, 10:31am

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jayjay wrote :
I don't see how that would affect repatriating money. I do see it being an advantage for a company to register a patent here if they wish to sell their products in the U.S. However, I don't see as there would be any need to 'invest' in the U.S. to do this.....they only need to sell their product here (as well as in the rest of the world) and keep others from doing the same by having a patent here. For an international company based in the U.S., if they want to sell their product in China they have the same problem regardless of what country they are based in. No?
Patent protection is about the country you manufacture in. If you manufacture in the US and a worker sells or copies the patented process it is certain that there will be restitution. If if pharmaceutical company manufactures their product in China to save money they will copy the product and produce it. Heck they will even export the stolen product back to the US using those wonderful emails that get trapped in your spam blocker. China will do nothing to gain you restitution for lost revenue. So if you have a patent and want it protected it comes down to the country it is manufactured in not where it is sold.
 
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TallGuy65 is offline TallGuy65 Post #20  July 11,2010, 10:51am
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landstar59 wrote :
I was reading a book recently and the author produced a U.S. government tax table that was from the 40's (if I remember correctly) and the income tax on $200,000 was 91%....you read correctly, 91% . If that happened today I think the government would have to hire mercenaries to collect their money. I know I wouldn't pay that willingly.
That's why they instituted the payroll tax. If it didn't come out of your paycheck (where sadly MOST people really have no idea how much they actually earn versus pay to the government) then you would never be caught near a tax office WILLINGLY paying your tax.

I know this is drifitng slightly o/t but our entire tax system has become so muddled where the actual people that write it don't understand it (just look up Charlie Rangel). I personally despise being punished for my hard work. I would be very happy to pay a consumption tax while being able to decide what to do on my own with everything that I earn...but that is a completely different discussion.

While we are talking about businesses and repatriation, does anyone here actually believe that businesses pay taxes, instead of them being passed through to consumers who buy their goods and services?
 
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