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Companies who move offshore to save federal taxes still get federal contracts
New Jersey Online ^
| 5/27/03
| The Associated Press
Posted on 05/27/2003 1:12:47 PM PDT by Willie Green
Edited on 07/06/2004 6:38:51 PM PDT by Jim Robinson.
[history]
(Excerpt) Read more at nj.com ...
TOPICS: Business/Economy; Culture/Society; Foreign Affairs; Government
KEYWORDS: contracts; globalism; offshore; thebusheconomy
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To: Willie Green
Accenture is the big gorilla here. The sad thing is...there are other big consulting firms (and corporations) who are incorporated in the USA and who do better work. Period.
2
posted on
05/27/2003 1:20:13 PM PDT
by
dark_lord
(The Statue of Liberty now holds a baseball bat and she's yelling 'You want a piece of me?')
To: Willie Green
Just food for thought:
Companies that pay less taxes can be more competitive and can under bid other companies to provide services. What the government loses in taxes is made up in cheaper prices.
Is moving offshore the patriotic thing to do, NO! Is it a wise business decision, Yes.
I firmly believe in not taxing business, bacause a business that is taxed, simply passes the tax on to the consumer (read me).
3
posted on
05/27/2003 1:24:17 PM PDT
by
Lokibob
To: Lokibob; Willie Green
I've got no reason to stand up for corporations like this, but the fact that so many of them are doing this is an indication that something is wrong with the U.S. tax system. The same Bush administration that rallied support for the dividend tax exemption by pointing out the inherent unfairness of double taxation didn't say a damned thing about the inherent unfairness of taxing corporate income earned outside the U.S. that has already been taxed in another jurisdiction.
To: Willie Green
? The New World Orders of,........'ENRON'........?
5
posted on
05/27/2003 1:39:50 PM PDT
by
maestro
To: Texaggie79
ping!
To: Lokibob
bacause a business that is taxed, simply passes the tax on to the consumer (read me).Food for thought:
In a competitive market, prices are determined strictly by supply and demand in the marketplace. Taxes, therefore, cannot be merely "passed along" to the consumer unless companies enjoy noncompetitive monopolistic or oligopolistic control over the market. Corporate income taxes are merely government confiscation of a portion of the profits (if any). They are not a "cost" that can be passed along to the consumer.
7
posted on
05/27/2003 1:54:09 PM PDT
by
Willie Green
(Go Pat Go!!!)
To: Willie Green; BrooklynGOP
You now following the Pat "Close Our Borders" Buchananites around GOP?
To: Willie Green
General Motors, when pricing the new models, has to include taxes as the cost of doing business. Otherwise, at the end of the year, the bottom line COULD show that they sold each automobile at a loss. Fortunately for them and every other manufacturer, they all pay taxes, so the price can be set with that in mind.
I think we both are saying the same thing, proving my point that the offshore companies have an advantage in the market place.
9
posted on
05/27/2003 2:15:25 PM PDT
by
Lokibob
To: Willie Green
Good. I have enormous respect for companies clever enough to move off-shore for tax purposes. The IRS makes the rules unnecessarily complex and unfathomable. If they make the rules, any play within the rules is legal.
Any play that keeps money out of the hands of the government is commendable.
Companies owe their first duty to their stockholders and their second duty to their customers. Lowering their costs and increasing their profits serves both groups.
To: muir_redwoods
To: Alberta's Child
the inherent unfairness of taxing corporate income earned outside the U.S. that has already been taxed in another jurisdiction.That's what they do with individual American expat workers as well.
The U.S. is the only country in the world that does this.
12
posted on
05/27/2003 3:40:43 PM PDT
by
angkor
To: Willie Green
Corporate responsibility is to the stockholders, not the government unless you wish to argue that corporations should be beholden to the government.
To: Willie Green
And why shouldn't they get federal contracts. I mean, they paid their Congressman all that money.
14
posted on
05/27/2003 3:49:28 PM PDT
by
BJungNan
To: DugwayDuke
unless you wish to argue that corporations should be beholden to the government.They are. The only reason Government grants investors limited personal liability in the formation of business enterprise is to promote economic development that is beneficial to society. When corporate activity no longer serves that purpose, there is no longer any justification for Government to extend that privilege.
- Along with rights go responsibilities.
- Corporations are artificial entities that provide limited economic liability to the investors. In bankruptcy or other civil litigation, they only stand to lose their investment. Creditors or other claimants cannot take action against other properties or sources of income of the stockholders.
- Corporations are not individuals and do not have the same rights as individuals.
- The rights of individual shareholders should not be confused with the legal requirements placed on corporations.
To: Texaggie79
You now following the Pat "Close Our Borders" Buchananites around GOP? Nah, we prefer the "we breed them - you feed them" policies of Fox.
To: Lokibob
General Motors, when pricing the new models, has to include taxes as the cost of doing business.
The cost of doing business is a tax writeoff.
17
posted on
05/27/2003 4:14:45 PM PDT
by
philetus
(Keep doing what you always do and you'll keep getting what you always get)
To: Lokibob
General Motors, when pricing the new models, has to include taxes as the cost of doing business. Otherwise, at the end of the year, the bottom line COULD show that they sold each automobile at a loss.And I suppose you've never seen an automotive manufacturer post a loss.
Corporate Income Taxes are NOT a cost that is "passed along" to the consumer.
They are merely government confiscation of a portion of the profit made (if any) after costs are deducted from revenues.
To: Willie Green
Corporate Income Taxes are NOT a cost that is "passed along" to the consumer. They are if the "consumer" is the government.
19
posted on
05/27/2003 4:28:26 PM PDT
by
Salman
To: philetus; Lokibob
The cost of doing business is a tax writeoff.Maybe Lokibob is an Enron/Arthur Anderson accountant.
He wants to take a tax deduction for his taxes from his taxes.
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