Posted on 02/25/2012 3:44:15 PM PST by Libloather
I guess these guys shouldn’t have voted for Obama.
Oh well....
One could also blame previous tax codes for helping entrap companies into weird accounting systems like this. I am not sure I even understand it well, but it sounds artificial. It’s another argument for flat taxes, like Cain’s proposal.
Screw ‘em.
“Kentucky bourbon makers say President Obama’s corporate tax overhaul could hobble their industry and cause major economic hardship...”
Oh, puh-leez!
Hobbling industry and causing major economic hardship is what Obama is all about.
Obama may be an idiot, but his early education - such as it was - was enough to indicate to him that you can’t have a communist revolution without significant social unrest.
As long as he leaves rum alone I don't care. After all rum does not have to age, in fact I could drink it from the tap.
It’s ironic. LIFO was created (I believe) in the seventies as an accounting solution to roaring inflation that was playing havoc with inventories. Leave it up to Obama to do away with it just when it’s needed again.
But if abolishing it can put the screws to small businesses, Halleluiah!
The big-government/big-corporate criminal complex is on its way to owning everything, and someday it will own you.
If they are Obama supporters, they will get a waiver...
Do you have any evidence to back up such an assertion?
This Bourbon DRINKER recognizes that every business just passes its taxes along as a business expense to its customers, and if it is unable to do so it goes out of business.
I want neither for the Bourbon Distillers to pass higher taxes on to me nor do I want them to go out of business.
ML/NJ
LONDON, Oct 9 - The American whiskey market may be back on a roll. The industry which produces Jack Daniel's and Jim Beam is seeing sales flatten in its domestic market but overseas business is booming and driving overall growth.Identify successful companies or market segments.These two top brands already have half or more of their sales overseas and are dragging the rest towards export markets such as Western Europe and Australia where annual sales volume growth has averaged nearly 6 percent over the last 10 years.
Both compete head on with other Scotch, Irish and Canadian whiskies, but have done well as Brown-Forman Corp's (BFb.N) Jack Daniel's became the world's largest selling single whisky brand four years ago overtaking Diageo's (DGE.L) Johnnie Walker Red.
"Worldwide American whiskey has the opportunity to be the fastest growing in overseas markets. One of its advantages is its mixability compared to scotch whisky," said Brown-Forman's Chief Executive Officer Paul Varga.
U.S. whiskeys see fastest growth abroad, Reuters, October 9, 2009.
Business' do not pay taxes, they collect taxes!
I’m glad I know some bootleggers!
Bourbon is the finest of American liquors and revered worldwide. It can only be produced in Bourbon County, Kentucky. Yes, Tennessee does produce a fine whiskey but it will never be a bourbon.
I'm not sure that one can properly compare an hand-crafted, aged liquor like Makers Mark to a brash, young intoxicant like One Barrel rum - but to each his own.
Cheers!
Personally, I wouldn’t mind paying for Woodford Reserve. It’s excellent stuff. They will have no choice but to raise prices, but whether the public will accept that is yet to be seen.
Some businesses, those that are able to take advantage of accounting gimmicks and loopholes, will see their taxes go up. Others, who have no such loopholes, will see their taxes going down.
I suspect a lot more businesses will benefit from lower rates than will be burdened by loss of loopholes.
I agree that Bourbon is the finest of American liquors. And it can only be produced in Bourbon County. ( I use to do computer consulting for liquor distributors here in New Mexico). I agree that US produced (including Puerto Rico) rum's only attribute is it is cheap. But start comparing rums such as Cana de Flor, 18 year, made in Nicaragua. I will take the rum. And there are even better ones but much more expensive.
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