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View Diary: 'Fix the Debt' operates as a front for corporate tax breaks and cuts in government social programs (127 comments)

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  •  yup (3+ / 0-)
    Recommended by:
    jfromga, Timothy J, divineorder

    but if we did that, the companies would leave america, so they say.

    i say good riddance and have fun living in a third world country.

    -You want to change the system, run for office.

    by Deep Texan on Wed Nov 14, 2012 at 11:15:13 AM PST

    [ Parent ]

    •  they seem to be staying here (7+ / 0-)

      collecting subsidies while sending the jobs overseas.  We get the bloated CEO's buying our politicians, we get them interfering with rational regulation of the environment and workplace, we get inundated with their reinforcement of social wedge issues to keep lower income whites in line, and we still see them offshore jobs.   I think there ought to be standards that recognize income as income,  come up with realistic rates and let the chips fall where they may.   If we end up a little poorer, but in control of our government, more egalitarian, less polluted, we might still be better off.

      •  we can change that (1+ / 0-)
        Recommended by:
        jfromga

        problem is we have to work within a certain framework.

        if Obama came out and said everything we have been saying, then the national press would have a field day.

        there is no debt crisis!  we are a rich nation.  the rich can and will pay more.

        they would rake him over the coals everyday and guide the public into believing Obama doesn't care/understand/fear the national debt problem.

        -You want to change the system, run for office.

        by Deep Texan on Wed Nov 14, 2012 at 01:19:37 PM PST

        [ Parent ]

    •  Deep Texan - the companies would keep (1+ / 0-)
      Recommended by:
      Deep Texan

      their US operations in place, just move the tax home to another more tax friendly country. The companies would continue to owe tax on their US operations, but not on world wide income.

      "let's talk about that"

      by VClib on Wed Nov 14, 2012 at 08:03:54 PM PST

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      •  Quite a few Texas oil service companies have (2+ / 0-)
        Recommended by:
        VClib, Deep Texan

        moved their tax home to Switzerland - especially offshore oil companies -  which is noteworthy in that Switzerland has no oil and no offshore.

        The most important way to protect the environment is not to have more than one child.

        by nextstep on Wed Nov 14, 2012 at 11:31:47 PM PST

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        •  nextstep - I think this trend will increase (1+ / 0-)
          Recommended by:
          Deep Texan

          It was interesting that when Bain Capital acquired the sensor technology group from Texas Instruments they acquired  it with a Dutch shell, renamed the company Sensata Technologies, and later took it public on the NYSE (symbol ST). The headquarters are in Massachusetts and they have world wide manufacturing and sales. I haven't done any research on why incorporating in Holland is advantageous, but I predict that more companies will move their incorporation domicile out of the US.

          "let's talk about that"

          by VClib on Thu Nov 15, 2012 at 12:45:19 AM PST

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          •  only if we let it (0+ / 0-)

            maybe we need to setup our own pac for 2014 that runs ads on all this stuff.

            -You want to change the system, run for office.

            by Deep Texan on Thu Nov 15, 2012 at 06:35:04 AM PST

            [ Parent ]

            •  Deep Texan - Congress can change the tax laws (1+ / 0-)
              Recommended by:
              nextstep

              but a private company can change where it is incorporated, even to another country. Companies would need shareholder approval to make the change, but the US government can't stop it.

              "let's talk about that"

              by VClib on Thu Nov 15, 2012 at 06:54:11 AM PST

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              •  there are plenty of things we can do (0+ / 0-)

                congress pass all kinds of laws.

                -You want to change the system, run for office.

                by Deep Texan on Thu Nov 15, 2012 at 07:05:49 AM PST

                [ Parent ]

                •  If two different companies have exactly the same (0+ / 0-)

                  operations around the world, why should the amount of tax they owe the US be different if one is incorporated in the US  and the other is not?  Should their taxes be based on their economic activity or where they happen to file a document?

                  The most important way to protect the environment is not to have more than one child.

                  by nextstep on Thu Nov 15, 2012 at 07:47:38 AM PST

                  [ Parent ]

              •  The problem is a broken tax policy (1+ / 0-)
                Recommended by:
                VClib

                What a company owes in taxes should be independent of what country they are incorporated in.  

                The most important way to protect the environment is not to have more than one child.

                by nextstep on Thu Nov 15, 2012 at 07:28:28 AM PST

                [ Parent ]

      •  we can change that (0+ / 0-)

        it's within our power.

        or it will soon be within our power.

        -You want to change the system, run for office.

        by Deep Texan on Thu Nov 15, 2012 at 06:34:21 AM PST

        [ Parent ]

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