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  1. #691
    CC Grandmaster
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    The Panama papers have really perfectly expose the lie that reducing company taxes would somehow magically prevent companies from moving their profits offshore. In fact, a 2% cut or a 5% cut or a 10% cut would make not a blind bit of difference. While companies can legally reduce their paper profits to zero, they will do so, whether the tax rate is 30% or 10%. The solution obviously must be regulatory, though I'm sure Jono would never admit it.

  2. #692
    CC Grandmaster Redmond Barry's Avatar
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    Quote Originally Posted by Capablanca-Fan View Post
    Yes, lots of companies have moved overseas, and still others keep 2.1 trillion dollars of their profit overseas to avoid the greedy taxes. Another factor is the lack of free market in trade. E.g. sugar is subsidized and protected by tariffs, so a number of sugar-using companies like Lifesavers and recently Oreos have moved overseas,
    Right so you finally admit the problem is more a tax avoidance issue rather than a full scale defection of American corporations. Most of your "golden geese" would probably find the loopholes in the American corporate tax system advantageous to conduct their business with.

    So dont go getting hysterical about the American corporate taxation model when it clearly doesnt act to enforce the payment of your so called excessive tax rates.

    Heck even George W knew this and tried to lure capital back into the country by unsuccessfully offering tax holidays.

    Another hopeless beatup by Captain Hysteria .........
    Ruin is formal, devil's work,
    Consecutive and slow -
    Fail in an instance no man did,
    Slipping - is Crash's law,

  3. #693
    CC Grandmaster Capablanca-Fan's Avatar
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    Quote Originally Posted by Danse Macabre View Post
    Right so you finally admit the problem is more a tax avoidance issue rather than a full scale defection of American corporations. Most of your "golden geese" would probably find the loopholes in the American corporate tax system advantageous to conduct their business with.
    Loopholes are another problem with such an absurdly complex system.

    Quote Originally Posted by Danse Macabre View Post
    So dont go getting hysterical about the American corporate taxation model when it clearly doesnt act to enforce the payment of your so called excessive tax rates.
    Obviously it must enforce enough otherwise companies wouldn't keep trillions of dollars overseas or relocate there.

    Quote Originally Posted by Danse Macabre View Post
    Heck even George W knew this and tried to lure capital back into the country by unsuccessfully offering tax holidays.
    Holidays are not as effective as a permanent change to lower the corporate tax rate so it doesn't exceed all other developed countries.
    “The destructive capacity of the individual, however vicious, is small; of the state, however well-intentioned, almost limitless. Expand the state and that destructive capacity necessarily expands, too, pari passu.”—Paul Johnson, Modern Times, 1983.

  4. #694
    Reader in Slood Dynamics Rincewind's Avatar
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    Request for double-dissolution election will almost certainly be made today. By coincidence, tomorrow is the 10 year anniversary of the rescue of the two miners at Beaconsfield.
    So einfach wie möglich, aber nicht einfacher - Albert Einstein

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