Posted on 08/25/2019 6:09:37 PM PDT by Jonty30
In the 1950's, companies were given generous tax breaks for investing their incomes within the country, but not outside the country.
I'm just wondering if we shouldn't return to that model. I'm not arguing about the 90% tax rate, because that's a load of hooey and I'd rather have companies stay in the country.
However, I think it is a fair question as to whether a company should receive tax breaks for sending their money overseas to develop other countries?
Responsible people have health care insurance. We can encourage people to get health insurance by taxing them if they don't buy it. We can call this tax an "individual mandate". That's a good idea, too, right?
What tax breaks do they receive? Even with the Trump reforms, they have to pay double taxes, something that no other country does.
I’m not interested in controlling what companies do,but there isn’t anything in libertarianism that says the US will allow companies to tax deductbl their efforts to move their operations out of the country.
It’s about time conservatives realize that corporate “America” today is an international conglomerate, run by SJWs who care little to nothing about the conservative principles they espouse.
Money that they invest is already earned, it is an investment not income.
The corporate tax rate in America is the highest tax rate anywhere in the world. Because this is true, businesses must find ways and means to shelter income and avoid taxes.
For now, the only tax deductions companies should really get is salary paid to employees.
Long term, 16th/17th should be repealed and FedGov should be funded through the States. And tarrifs.
All the money companies spend to make money — lets call these expenses — can be subtracted from revenue (income) and what is left is called profits. It has nothing to do with an economic system, unless you do not like capitalism.
If you have an income tax, it is applied to these profits. And companies have lots of things that the government makes available for reducing taxes. But these are passed by the lawmakers to perform some special aspect of governmental control. This is probably why you have these concerns,. If congress wants to do something like reward some industry because they want to encourage some behavior then they do. But each case is special as controlled by congress.
Is the money you are referring to earned outside of the country?
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Yes ...... it is all horribly depressing these days.
And this BS about indicting or NOT indicting McCabe is quite gross.
I'm starting to believe that Barr blows more than those bagpipes.
The only “incentive” to move jobs overseas is to lower the overall cost of doing business, whether that is tangible in taxes or intangible regulations cost. To say tax breaks to move oversea is just another stupid made up Democrat talking point. Another one for which the stupid incompetent Republicans don’t know how to articulate a response. The incentive is to avoid the Democrats high taxation and regulation. We now have one of the lowest Corp rates in the world, but we now have an even lower rate to tax foreign income in the US whether companies bring it back or not, so the Trump tax cuts created another tax for foreign income, then another tax was created to tax payments made offshore to discourage money leaving the US. The Trump tax cuts actually incentive keeping jobs and money in the US anyway it can.
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