Taxing Internet Purchases

[BKDotCom]

Come on Nate, don't do this again. Obama did not say "some stupid tax loophole companies can take advantage of" was the reason jobs were going overseas. He said the exact opposite of your point unequivocally as follows: "There is no reason why our tax code should actively reward them for creating jobs overseas," and "Instead, we should be using our tax dollars to reward companies that create jobs and businesses within our borders."

The rest of your post we should take up in another thread (even though this instant discussion is O/T)

We could change Oklahoma's tax code to give companies $1 to relocate to Oklahoma.
But I think that $1 corporate welfare could be better spent elsewhere.
And I hardly think the $1 would be a deciding factor in any companies decision to locate to OK.

Yes Obama said the tax code rewards companies locating overseas..    He never said it's the leading incentive or how much the tax reward is.   Is it the cake, the icing on the cake, or simply a decorative candle?

[Conan71]

We could change Oklahoma's tax code to give companies $1 to relocate to Oklahoma.
But I think that $1 corporate welfare could be better spent elsewhere.
And I hardly think the $1 would be a deciding factor in any companies decision to locate to OK.

Yes Obama said the tax code rewards companies locating overseas..    He never said it's the leading incentive or how much the tax reward is.   Is it the cake, the icing on the cake, or simply a decorative candle?

Aside from compliance and regulatory costs, the real issue is lower payroll costs, period.  No matching SS contribution, no FICA, no pensions and apparently plenty of ways to shelter income earned on foreign operations as well.

Taxes send jobs overseas.  I think Nathan should give me the damn bridge after those mental gymnastics.

[guido911]

Yes Obama said the tax code rewards companies locating overseas..    He never said it's the leading incentive or how much the tax reward is.   Is it the cake, the icing on the cake, or simply a decorative candle?

Then why didn't Obama talk about the cake and icing? Are regs and labor laws a bit sensitive to his electorate?

[AquaMan]

Much better conversation on this and other tax issues on CNBC (Squawk Box) right now. Warren Buffett and Kent from Coca Cola advocate uniformity of taxation globally as well as nationally and point out that 40% of American taxes come from payroll taxes rather than capital gains which is the source of their wealth. They find it odd that they are protected like bald Eagles while the majority of the tax base is at risk.

According to them, companies locate overseas because of low labor availability and lower taxe rates. They did not mention regulation or environmental concerns though I could have missed that. Companies also play off those countries against each other once they have relocated overseas. Uniformity would mitigate that.

Buffet: "The best investment for companies right now is lobbyists"
         "I could solve the debt ceiling crisis in 5 minutes. Enact legislation that says when the debt exceeds 3% of GDP all of Congress is excluded from re-election."

         "The top 400 of the richest taxpayers in America were paid an average of 16 million a year 10 years ago and taxed at 27%. That same 400 is over 40 million a year now and due to constant tax cuts pay even less than they did then"

    "Trying to solve the debt problem at the barrel of a gun is silly and no one knows what the result of failure to extend the debt ceiling will do."

Both of them remain extremely optimistic in the face of seemingly poor numbers that they put little stock in.

My quotes may not be perfect but reasonable for my age.

[bokworker]

Don't we play the same game domestically that Buffet and Kent mention internationally when cities, counties, and states offer tax incentives for companies to locate in their area? In totality it explains the inordinate complexity to our tax code both from a business and personal basis as we attempt to let the "tax tail" wag the dog of business and personal decision making...

[heironymouspasparagus]

Aquaman,
They don't just find it odd, they find it WRONG!  And have been publicly stating that for years!


And here is an interesting tidbit about News Corp...that eternal font of evil by a displaced Australian who wants to rule the world.  You remember him - the puppet master for the entire Murdochian Empire...the head of the Murdoch/Cheney/Rove triumvirate.

http://finance.yahoo.com/news/Murdoch-Gets-Dangerous-for-bloomberg-1666537171.html?x=0&sec=topStories&pos=6&asset=&ccode=

[Conan71]

Much better conversation on this and other tax issues on CNBC (Squawk Box) right now. Warren Buffett and Kent from Coca Cola advocate uniformity of taxation globally as well as nationally and point out that 40% of American taxes come from payroll taxes rather than capital gains which is the source of their wealth. They find it odd that they are protected like bald Eagles while the majority of the tax base is at risk.

According to them, companies locate overseas because of low labor availability and lower tax rates. They did not mention regulation or environmental concerns though I could have missed that. Companies also play off those countries against each other once they have relocated overseas. Uniformity would mitigate that.

Buffett & Kent are dead donkey wrong.  Nathan says taxes have nothing to do with it, so they must be complete morons. 

[AquaMan]

Buffett & Kent are dead donkey wrong.  Nathan says taxes have nothing to do with it, so they must be complete morons. 

Its all in how you spin it. Is the non renewal of a temporary tax cut considered a tax hike? You think so but I don't.

Taxes are only a part of the equation and we all know that. Regulation, low labor cost, environmental demands and taxes all play a part. Just because I took a quote from these two guys referring to taxation doesn't negate the other reasons. Neither does Obama's remark about taxes.

[AquaMan]

Don't we play the same game domestically that Buffet and Kent mention internationally when cities, counties, and states offer tax incentives for companies to locate in their area? In totality it explains the inordinate complexity to our tax code both from a business and personal basis as we attempt to let the "tax tail" wag the dog of business and personal decision making...

Somebody use this as their tag line! Good point.

[AquaMan]

Aquaman,
They don't just find it odd, they find it WRONG!  And have been publicly stating that for years!


And here is an interesting tidbit about News Corp...that eternal font of evil by a displaced Australian who wants to rule the world.  You remember him - the puppet master for the entire Murdochian Empire...the head of the Murdoch/Cheney/Rove triumvirate.

http://finance.yahoo.com/news/Murdoch-Gets-Dangerous-for-bloomberg-1666537171.html?x=0&sec=topStories&pos=6&asset=&ccode=

Didn't Nostramus actually refer to them by name? Spread that along please...

[nathanm]

Buffett & Kent are dead donkey wrong.  Nathan says taxes have nothing to do with it, so they must be complete morons. 

Did I miss something? Taxes are a percentage of consumption and/or profit. In this country, less than 40% on whatever the tax applies to. Workers in China are much less than 60% of the cost of workers in the US. Ergo, anyone basing their decision primarily on the tax code isn't seeing very clearly.

[guido911]

And here is an interesting tidbit about News Corp...that eternal font of evil by a displaced Australian who wants to rule the world.  You remember him - the puppet master for the entire Murdochian Empire...the head of the Murdoch/Cheney/Rove triumvirate.

You asked for it:

[heironymouspasparagus]

Notice how quick Rupert pulled the plug on that paper - when the light of day comes to dark places, the roaches and other vermin must scramble quickly to get out of sight again.  Lest the British government be forced by the popular opinion to stop the latest takeover of media by the Murdochians.


guido,
You have become a slacker - that's the best one you can find??

[RecycleMichael]

I liked guido's picture. It seemed to show a very efficient delivery system to me.

[Townsend]

I liked guido's picture. It seemed to show a very efficient delivery system to me.

Only if you crave the eye burn.