Posted on 06/10/2015 5:25:34 AM PDT by expat_panama
YOU probably haven’t heard of the BEPS project — but you soon will. Short for Base Erosion and Profit Shifting, the BEPS Project is the focus of a rapidly moving effort by the Group of 20 countries to create a new set of international tax principles designed to better capture tax revenue from multinational companies like Apple, Google and Starbucks.
The Obama administration signed on to the BEPS Project in the expectation that it would strengthen the American tax base and enable Washington to hold on to more corporate tax revenues. But as the project heads for its end-of-year deadline and the basic shape of the BEPS principles becomes clear, nobody in Washington is paying attention to a simple fact: The United States lost, and lost big.
[snip]
But the project also changes the international tax rules by forcing companies to pay corporate taxes according to the location of the economic activity and value creation generating their profits. At first blush, that would seem to benefit the United States, home to much of the world’s innovation and many innovative companies. Certainly the Obama administration seems to think so, because it continues to support the BEPS effort.
But the administration’s support is rooted in political anti-corporate rhetoric rather than cold hard analysis.
[snip]
Politicians in Washington are accustomed to have the world march to their pace. But in the digital era, even lawmakers in the capital city of the most powerful nation on earth have to realize that delay means disaster.
(Excerpt) Read more at nytimes.com ...
“The United States lost, and lost big.”
This is the Obama Doctrine.
Obama would call that a win-win.
A beautiful morning to all! Yesterday's stock dip rebounded w/ S&P actually closing up something too small to measure and metals also bounced off their floors. This morning's futures see more stock gains (+0.34%) and soaring metals (+0.89%). What's not to like? OK, so we got Crude Inventories and the Treasury Budget...
Degrade. Disrupt. Destroy. That’s the øbama way with regard to America.
Maybe not, it implies that his faction is thinking. My take is that this class warfare is blind hatred, a complete lack of thought that harms not like an predator but rather like a poison.
“My take is that this class warfare is blind hatred”
Self loathing. He is the in the top 1% of the 1 percenters.
Maybe not, it implies that his faction is thinking. My take is that this class warfare is blind hatred, a complete lack of thought that harms not like an predator but rather like a poison.
I think it's more about "You didn't build that..."
Everything he does is a blunder. Take off the sleep mask, New York Times.
Personally, I was completely surprised that the NYT was willing to offer any criticism at all in the first place. The thing must be that the O gang is now a safe target as the torch is being passed to younger blood.
This is a “Progressive” critique from the left, not some sort of pro-corporate position.
As it is, US companies are highly disadvantaged by paying higher corporate taxes than most non-US companies—and by having to pay those taxes worldwide.
I don’t know enough about the larger bill, but this bill would stop the US from slapping its exorbitant corporate tax on all international activity of US companies—at least a start to leveling the field and freeing up US business.
The next obvious step is to reduce—or better yet, eliminate—the US corporate tax altogether. This is what is required to really make US companies competitive anyway.
We need to cure the American governments addiction to taxpayer money.
It’s all about fairness and equal outcomes for Bozo...
I know, but don’t be mislead. The Slimes will turn it around tomorrow and go back to being what they truly are... Jerks with a lot of ink.
Helping corporations save money by relocating to lower taxing countries- in exchange for political donations- was a “blunder” eh?
Well, not from a politician’s point of view LOL!
This removes the pressure from corporations to reduce our corporate taxes.
Democrats get the corporate donations for doing this, and end the corporate donations to those who want to reduce the tax.
It’s a big win for ‘progressives’.
Maybe they want to push other countries to raise their corporate tax rate “to level the playing field”, as Obama likes to say.
Better half a loaf than none at all. The remaining portion IMO could be addressed more easily.
Again, this is a progressive complaining about Barry giving in too much to the other team.
And if it gives the Dema points with biz, that’s a good incentive for the GOPE to take the next step.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.