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Corporate Tax Inversions
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ElBorrachoInfamoso Away
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Post: #51
RE: Corporate Tax Inversions
Obama has robbed the American people of trillions of dollars, and he's getting sand in his vagina over the fact that some corporations are trying to keep him from robbing the American people of a few billion more.

I've got the dick so I make the rules.
-Project Pat
09-24-2014 03:35 AM
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JayMillz Offline
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Post: #52
RE: Corporate Tax Inversions
http://www.nytimes.com/2014/10/01/upshot....html?_r=0

A Startling Look at How Profits Elude the Taxman
Patricia Cohen, New York Times, SEPT. 30, 2014

Statistics cited in debates about tax reform often have a sleep-inducing effect. But Jason Furman, the chairman of the president’s Council of Economic Advisers, recently offered some eye-popping numbers to underscore just how much revenue the United States loses when American corporations shift part of their operations abroad to avoid paying taxes at home. …. “I feel safe in saying that the fact that in 2010 U.S.-controlled foreign corporation profits represent 1,578 percent of Bermuda’s G.D.P. and even 15 percent of the Netherlands’ G.D.P., probably does not simply reflect business decisions made for purely business reasons,” Mr. Furman said. Mr. Furman suggested that several corporations with overseas headquarters were dabbling in creative accounting to shift profits from where they were actually earned — the United States — to appear as if they had been produced in tax havens. …
10-01-2014 11:52 AM
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ElBorrachoInfamoso Away
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Post: #53
RE: Corporate Tax Inversions
The good news on the recent restrictions is that corporations will figure out ways around them.

Will new rules curb all tax inversions? Nah
Quote:These new Treasury regulations are likely to act like administering antibiotics to a sick patient. It will kill off the deals that were designed to comply with old rules, but new deals will quickly sprout up that are even more resistant to regulation. Investors have clearly lost their squeamishness at owning a company that is organized under Canadian, Dutch or Irish law. So long as U.S. corporate tax rates are so much higher than those in competing nations, there will always be a strong financial incentive for U.S.-based multinationals to figure out a way to move their corporate citizenship overseas.

Remember, the majority of investors in these companies are American citizens. If you care about what's best for American citizens, then you want the value of their investments to remain in their hands, not in the hands of the government.

I've got the dick so I make the rules.
-Project Pat
10-02-2014 03:32 AM
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