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Author Topic: "the Mooch"  (Read 72877 times)

Offline stroker crazy

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Re: "the Mooch"
« Reply #250 on: Jan 25, 2018, 15:36:13 »
I wonder what happens when the president lies under oath …
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Offline MiniatureNinja

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Re: "the Mooch"
« Reply #251 on: Jan 25, 2018, 16:38:40 »
I wonder what happens when the president lies under oath …

ask Bill Clinton
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Offline J-Rod10

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Re: "the Mooch"
« Reply #252 on: Jan 25, 2018, 18:15:24 »
He could have closed the tax loophole and brought that many jobs and money back three fold. Instead he is actively fucking the economy. I wonder if the solar tax has anything to do with the fact the Exxon CEO is the Secretary of State

http://www.businessinsider.com/trump-solar-tariffs-solar-panels-thousands-of-job-losses-2018-1

https://www.theguardian.com/travel/2017/feb/28/us-tourism-experiences-a-trump-slump
Out of curiosity, how can you make a company bring money here that was made overseas, at overseas businesses?

Offline teazer

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Re: "the Mooch"
« Reply #253 on: Jan 25, 2018, 18:23:49 »
That money would have never seen US soil without the tax change. They've been hoarding it overseas for a decade due to nothing more than the tax laws that were on the books.

For it to be promoting offshoring work, as you say, the manufacturing sector stateside is absolutely booming, at levels not seen since the early 2000s.

Timing is everything in this discussion.  The tax changes allow companies to make profits overseas and to bring that cash back at a lower tax rate than if they had earned the money in the US. Hence it encourages future profits to be "earned" overseas and actively discourages investment in the US- That's from here on in.

Jobs have rebounded progressively over the last 6 years or so and have continued, albeit at a lower pace, under the current administration. Some of that is in manufacturing but not a lot.  The US had basically come close to what economists call "full employment" in 2017.  That doesn't mean that everyone has a job and people in areas that are economically depressed are not counted if they are not looking for a job.

Those are the people that Trump promised he would bring back coal mines and manufacturing and none of that has happened or is likely to happen much.  Coal for general heating and power generation is more expensive than gas, so simple economics kill those jobs.  What Trump is doing to those people is to try to kill their healthcare and do deny them benefits unless they have work, which ain't going to happen.

Apple cash being repatriated was going to happen eventually for them to continue to build their business. Trump just made it cheaper for them to do so and they took advantage of the offer - as they should. 

His SOLAR tariff just hurts jobs.  The cost of panels is a relatively small part of the installed cost.  More than 2/3 of the cost is locally manufactured frames and wiring and installation.  All he did there was to protect a couple of inefficient manufacturers as a knee jerk reaction and so he would look good.  A policy of investing in new technologies was what the last administration did and not always very well.  This administration thinks we should go back to the Golden days of big oil doing what they please and future generations can pay for it.

He cannot do a deal where he doesn't understand the issues and he is too lazy to spend the time doing so.  Instead he listens to people who piss in his ear. That's why we now have a Middle East policy dictated by a
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Offline J-Rod10

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Re: "the Mooch"
« Reply #254 on: Jan 25, 2018, 18:32:54 »
He put a tax on imports. I don't particularly have an issue with that. We send stuff anywhere else in the world, the buyer pays a tax to get it.

Offline doc_rot

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Re: "the Mooch"
« Reply #255 on: Jan 25, 2018, 18:33:34 »
Out of curiosity, how can you make a company bring money here that was made overseas, at overseas businesses?

You cant make them bring the money back, you can close the tax loopholes that allow them to legally evade taxes, then create tax incentives for domestic business generation, that is one of the reasons why the US did so well post WWII. The money we would gain from a strong tax code is more than the paltry amount we will see by allowing multinationals to repatriate money.
« Last Edit: Jan 25, 2018, 18:36:22 by doc_rot »

Offline J-Rod10

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Re: "the Mooch"
« Reply #256 on: Jan 25, 2018, 18:34:43 »
I don't particularly see how a one time offer to bring money back encourages business overseas. They got the money in the US, the gov got $38B that they wouldn't have. Now, all money is now taxed at the standard corporate rate.

Offline doc_rot

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Offline doc_rot

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Re: "the Mooch"
« Reply #258 on: Jan 25, 2018, 18:51:19 »
He put a tax on imports. I don't particularly have an issue with that. We send stuff anywhere else in the world, the buyer pays a tax to get it.

yes but typically taxing imports is done to help out a domestic industry, wheras this hurts the domestic solar industry which employs more people than coal and oil combined.

Offline J-Rod10

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Re: "the Mooch"
« Reply #259 on: Jan 25, 2018, 18:55:33 »
Im certainly no tax law effciando

https://americansfortaxfairness.org/tax-fairness-briefing-booklet/fact-sheet-offshore-corporate-tax-loopholes/
Nor am I. That was a genuine question.

It's not like me shipping rear sets all over the world. I'm here, they all leave from here. Apple, they have brick and mortar stores all over the world. Those products sold overseas, have never touched American soil. There's nothing American about them, besides the name on the device. I can 100% understand them not wanting to pay taxes on money a second time, at an even higher rate.