GOP Opposing Actions By Obama To Close Offshore Tax Havens - Page 4 - Mercedes-Benz Forum

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post #31 of 46 (permalink) Old 05-04-2009, 09:48 PM
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^ It's about the jobs right now, dickhead. People are suffering here and the right thing to do is to keep them employed even if it violates some PC creed you made up.

Bite me.
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post #32 of 46 (permalink) Old 05-04-2009, 10:03 PM
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^ It's about the jobs right now, dickhead. People are suffering here and the right thing to do is to keep them employed even if it violates some PC creed you made up.

Bite me.

Isn't that what the original post is about, bringing some of that money and some fo the jobs back to the country insttead of keeping it offshore?


Drew does all the RWNJ biting, he likes it and with you requesting it, well we can all draw our own conclusions.......
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post #33 of 46 (permalink) Old 05-04-2009, 10:13 PM
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Isn't that what the original post is about, bringing some of that money and some fo the jobs back to the country insttead of keeping it offshore?


Drew does all the RWNJ biting, he likes it and with you requesting it, well we can all draw our own conclusions.......
It doesn't work that way, dummy. You have serious delusions about why people move work offshore. There is some misguided thought that your margins will skyrocket if you send work elsewhere. Not always so. Much of the offshoring of work has been little more than a failed economic experiment. Financial models from the '90's showing massive gains in the new millenium have all but dried up. The costs involved were not insignificant and there is no way that most could pull up stakes in this climate and move back onshore. I know it's the popular bumper sticker of the day for lefties and I hate losing just one US job, but reality means huge revenue losses for US companies and closing of the US end of the business. Moving completely offshore may be the only way for some businesses to stay in the black.

You have a knack for taking the kneejerk feelgood approach and missing the long term consequences. Fix it, don't destroy it.
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post #34 of 46 (permalink) Old 05-04-2009, 10:27 PM
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It doesn't work that way, dummy. You have serious delusions about why people move work offshore. There is some misguided thought that your margins will skyrocket if you send work elsewhere. Not always so. Much of the offshoring of work has been little more than a failed economic experiment. Financial models from the '90's showing massive gains in the new millenium have all but dried up. The costs involved were not insignificant and there is no way that most could pull up stakes in this climate and move back onshore. I know it's the popular bumper sticker of the day for lefties and I hate losing just one US job, but reality means huge revenue losses for US companies and closing of the US end of the business. Moving completely offshore may be the only way for some businesses to stay in the black.

You have a knack for taking the kneejerk feelgood approach and missing the long term consequences. Fix it, don't destroy it.

Stu, I have worked for 3 American companies overseas in the 25 years I have worked offshore, I have seen the workers sent back home and replaced by locals here. I knew the savings the companies made and I knew the guys that lost their jobs, I saw the pics of their wives and kids and who they supported, I know the tricks and crap they played on the American workers who headed back home to a pink slip instead of a new project as they were told. I bet you and your RWNJ buddies get a good warm fuzzy feeling everytime an American loses his jobs to an overseas workers. You are ignorant.
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post #35 of 46 (permalink) Old 05-04-2009, 11:19 PM
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So, what is the balance of US jobs lost vs. extra taxes for 0? Is it a net sum game or?
I am not sure you are asking the right question for the subject thread. The US JOBS lost, whether these tax havens are closed or not will continue unabated as long as the companies get tax advantage by moving labor offshore.

Now, to the actual question that the RIGHT tries to bring up on this "IF OBAMA CLOSES TAX HAVENS, US COMPANIES WILL MOVE TO OTHER COUNTRIES". Well, most likely NOT. For a couple of reasons. First, most of those companies really, really like the 305 Million consumers in the US and they get them pretty much for free as US companies. That won't change that much if the tax havens are closed. The US market is still cheaper from WITHIN than as a FOREIGN Company dealing with US Customs.

Second, I am trying to picture all the executives and their staffs picking just which country to which they are going to move their headquarters. While the COMPANY Taxes might be cheaper, those EXECS are going to find their $1M salaries and Multi$M bonuses taxed at rates they can't imagine. Most costs will be higher and as written in the Finland thread, most Americans won't enjoy the change of living. So, will they decide to pick up their marbles and go away OR will they adapt and move on conducting business?

You know the answer.

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post #36 of 46 (permalink) Old 05-04-2009, 11:26 PM
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You have a knack for taking the kneejerk feelgood approach and missing the long term consequences. Fix it, don't destroy it.
The issue is, what many of us consider FIXING IT, you consider destroying it. Your boy had his chance to FIX IT. He did not.

As an example, Citigroup has set up 427 tax haven subsidiaries to conduct its business, including 91 in Luxembourg, 90 in the Cayman Islands and 35 in the British Virgin Islands. Other havens include Switzerland, Hong Kong, Panama and Mauritius. Convenient, that.

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post #37 of 46 (permalink) Old 05-04-2009, 11:31 PM
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The issue is, what many of us consider FIXING IT, you consider destroying it. Your boy had his chance to FIX IT. He did not.

As an example, Citigroup has set up 427 tax haven subsidiaries to conduct its business, including 91 in Luxembourg, 90 in the Cayman Islands and 35 in the British Virgin Islands. Other havens include Switzerland, Hong Kong, Panama and Mauritius. Convenient, that.
It was mentioned on CNBC that those in Luxemburg and the Caymans are all in the same buldings, surely with 1 or 2 Americans and quite a few locals shuffling the paper and saving millions.
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post #38 of 46 (permalink) Old 05-05-2009, 12:08 AM
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So, what is the balance of US jobs lost vs. extra taxes for 0? Is it a net sum game or?
well, Stuie:

here's the simple numbers. since I'm not McBear or any other really smart worldly guy.

I'm just someone who pays 32% of my income to the feds.
I'd like US companies to ACTUALLY pay SOME taxes.
They pay ZERO taxes on their off shore companies.
Remember you use '0' in a lot of your posts, so you know the number. it's actually a number, not an icon for some twisted loser description of the POTUS.

so, if my taxes go down due to muti-billion dollar companies PAYING taxes.

I like this idea.


The republican talking points in the Presidential race was that our corporate tax rate was the highest in the world.

well, no one chose to say the ACTUAL tax they pay.
it's somewhere closer to 2%.
NO, I'm not going to link it. YOU look it up.
even if its twice or three times that amount.. it's still too low!
got it!

the net sum gain is that everyone in the country pays less taxes.

any response?
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post #39 of 46 (permalink) Old 05-05-2009, 12:45 AM
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well, Stuie:

here's the simple numbers. since I'm not McBear or any other really smart worldly guy.

I'm just someone who pays 32% of my income to the feds.
I'd like US companies to ACTUALLY pay SOME taxes.
They pay ZERO taxes on their off shore companies.
Remember you use '0' in a lot of your posts, so you know the number. it's actually a number, not an icon for some twisted loser description of the POTUS.

so, if my taxes go down due to muti-billion dollar companies PAYING taxes.

I like this idea.


The republican talking points in the Presidential race was that our corporate tax rate was the highest in the world.

well, no one chose to say the ACTUAL tax they pay.
it's somewhere closer to 2%.
NO, I'm not going to link it. YOU look it up.
even if its twice or three times that amount.. it's still too low!
got it!

the net sum gain is that everyone in the country pays less taxes.

any response?

Biker, Stu has only recently found out that countries and businesses exist outside of the lower 48, better give him some time to wrap his head around that before getting a response..........
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post #40 of 46 (permalink) Old 05-05-2009, 03:48 PM
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Is there real meat behind this ?

Quote:
Obama’s Corporate Tax Plan Unnerves Indian Business
By HEATHER TIMMONS
Published: May 5, 2009

NEW DELHI — President Obama’s proposal to change the American corporate tax system is winning few fans in India, where some say it is aimed at curbing the country’s outsourcing industry.

Perhaps that is because Mr. Obama specifically struck out at the epicenter of Indian outsourcing.

The president vowed Monday to overhaul a tax code that allowed companies to pay less tax to, as he said, “create a job in Bangalore, India, than if you create one in Buffalo, New York.” One major element to that change could be the elimination of a deduction that American companies get when they invest in subsidiaries outside the United States.
http://www.nytimes.com/2009/05/06/bu...tml?ref=global
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