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Biden has a solution to the US having among highest corporate tax rates

lawpoke87

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He is proposing uniform world corporate and possibly individual tax rates. I’m sure the rest of the world is going to jump on board to ensure they no longer have a competitive advantage over the US.

 
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He is proposing uniform world corporate and possibly individual tax rates. I’m sure the rest of the world is going to jump on board to ensure they no longer have a competitive advantage over the US.

Only way to make this happen is to tell companies that they completely will lose access to valuable markets if they don’t pay the appropriate tax base and instead choose to move their money off shore. Their domestic assets should be seized and redistributed (sold) back into the private sector at a discount. The holes they leave will assuredly be filled by a competitor who does pay taxes.
 
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Only way to make this happen is to tell companies that they will lose access to valuable markets if they don’t pay the appropriate tax base and instead choose to move their money off shore.

How is that going to force Germany, China, England, etc.. to raise their corporate tax rates to match that of the US? On the contrary, those countries and others will aggressively market to multinational corporations to move their facilities to take advantage of their lower rates. Biden knows this which is why we are making this proposal...a proposal even an attorney from Tulsa knows will never succeed.
 
How is that going to force Germany, China, England, etc.. to raise their corporate tax rates to match that of the US? On the contrary, those countries and others will aggressively market to multinational corporations to move their facilities to take advantage of their lower rates. Biden knows this which is why we are making this proposal...a proposal even an attorney from Tulsa knows will never succeed.
I didn’t say that it would make other countries raise their rates. It would make companies stop not paying taxes.
 
I didn’t say that it would make other countries raise their rates. It would make companies stop not paying taxes.

So your solution is to tell multi-National companies they have to pay the US corporate tax and capital gain tax rates regardless of where they’re headquartered or manufacture their goods? If not, they will be barred from selling their goods in the US? This is far fetched even for you and would end up costing the US consumer.
 
So your solution is to tell multi-National companies they have to pay the US corporate tax and capital gain tax rates regardless of where they’re headquartered or manufacture their goods? If not, they will be barred from selling their goods in the US? This is far fetched even for you and would end up costing the US consumer.
They should pay an income rate proportionate to the ratio of US business to non US business. I don’t care if they say they’re headquartered in Dublin or the Seychelles. If their receipts say that they made 100 million on trade that occurred on American soil vs. 200 million that occurred internationally then they should pay that a percentage of that 100 million to the US. I don’t care if you want to be a multinational company, but trade occurring in the US will be taxed in the US. If it’s not, then you won’t do business here. You shouldn’t be allowed the benefits of the market if you’re not paying to keep up the facilities of the market. It would be like having a booth at a farmers market but not paying any of the expenses to facilitate the market (such as sweeping up after the market closes) it’s basically stealing from every person that IS funding the facilities of the market, and that’s how I look at any corporation that doesn’t pay their taxes and moves profits offshore. They are thieves and they deserve to be treated as such.
 
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Corporations already pay tax in the countries in which they do business as well as tax in the countries which they are headquartered and manufacture goods. The US can only tax the goods sold not the other two. Which is why we want an uniform Corp and capital gain tax rate. A scenario which would equal the playing field for corporations having operations and headquarters overseas. There is no chance the world will agree for obvious reasons.
 
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Corporations already pay tax in the countries in which they do business as well as tax in the countries which they are headquartered and manufacture goods. The US can only tax the goods sold not the other two. Which is why we want an uniform Corp and capital gain tax rate. A scenario which would equal the playing field for corporations having operations and headquarters overseas. There is no chance the world will agree for obvious reasons.
The problem comes Down to inversions and subsidiaries. We have to come up with a system that limits the ability of American companies using haven subsidiaries to dodge taxes. We have to come up with a solution that looks at the big picture of where the company is actually operating the business and say, “no you are not an Irish company. You are an American company with an office in Ireland. We don’t care where you invert your head office to. We know you do business here. You will pay taxes here or you will no longer do business here.”
 
What’s crazy is that we know that it’s happening, we know companies who are doing it, we know how they’re doing it, yet we refuse to attempt to come up with a way to prevent it or punish it. It’s like speakeasies in prohibition. We’re just letting them get away with it.
 
What’s crazy is that we know that it’s happening, we know companies who are doing it, we know how they’re doing it, yet we refuse to attempt to come up with a way to prevent it or punish it. It’s like speakeasies in prohibition. We’re just letting them get away with it.

I don’t believe that’s the scenario we’re dealing with here. This isn’t about a company incorporating in Ireland but doing business here. This is about capital flowing from the US to overseas due to lower tax rates. Which is why Biden is making a uniform worldwide tax rate proposal in hopes of mitigating the flow of capital out of this country. In truth I assume he knows it will fail but is trying to save face by an attempt to prevent the stream of capital from our borders
 
I don’t believe that’s the scenario we’re dealing with here. This isn’t about a company incorporating in Ireland but doing business here. This is about capital flowing from the US to overseas due to lower tax rates. Which is why Biden is making a uniform worldwide tax rate proposal in hopes of mitigating the flow of capital out of this country. In truth I assume he knows it will fail but is trying to save face by an attempt to prevent the stream of capital from our borders
They’re flowing oversees through the use of subsidiaries that are purposefully purchased in low tax countries. The problem is that the countries where the tax burdens are lower, aren’t actually facilitating any business. They’re just shells. It’s almost like an international version of money laundering. And Ireland and a few other countries are behaving as laundromats / car washes that clean the money for a small fee.

We aren’t actually losing significant business to Ireland because of its low tax rate. They don’t have the marketplace (population) to facilitate such losses. The only thing we are losing is tax revenue in the form of money being finagled offshore. It’s not like a company is actually looking at Ireland and saying “ I see the opportunity to make a bunch of money there because I can sell a billion cell phones” like they are in the US. All they see is the tax rate. We’re subsidizing Irish growth and a few wealthy folks’ bank accounts.
 
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They’re flowing oversees through the use of subsidiaries that are purposefully purchased in low tax countries. The problem is that the countries where the tax burdens are lower, aren’t actually facilitating any business. They’re just shells. It’s almost like an international version of money laundering. And Ireland and a few other countries are behaving as laundromats / car washes that clean the money for a small fee.


Again...that’s not the situation we’re talking about here. This is about the US having higher tax rates on Corp income and at risk capital and a proposal being made to eliminate our disadvantage. Thus preventing the incentive to actually facilitate business in those lower taxed countries. This proposal is the acknowledgement we know this will be a problem.
 
absent from this conversation, as usual, it seems, is the obligation that the board and the execs have to shareholders.

I always forget about the obligation to make sure the entire country is taken care of by the most taxes you can.
 
the american family act. why does congress need legislation to do what they are supposed to do. dog and pony show
 
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