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Congress Must Not Give Companies Tax Reasons To Move Jobs Overseas


#1

Congress Must Not Give Companies Tax Reasons To Move Jobs Overseas

Carl Levin

Poll after poll shows Americans overwhelmingly oppose tax cuts for profitable corporations.

"The Senate should not support a tax bill that incentivizes the transfer of corporate operations, profits, and the economic rights to intellectual property overseas."

#2

Let it be known all over the globe, that the greed of this government found within the GOP’s tax bill, started the revolution which toppled the Republican Party.

And, let the Democrats too be put on notice for their complicity over the decades in supporting the MIC before the People.


#3

Our corporate tax rate is not competitive. As long as it is higher than other countries money earned abroad will stay there (we are also one of the few countries to attempt to tax money earned outside of the country). This is actually hurting our economy.

The proposed tax reform actually fixes this. In no way does it “incentivizes the transfer of corporate operations, profits, and the economic rights to intellectual property overseas”.


#4

So true, it is a global greed and global business robber barons with no loyalty of their nations only how to prosper exceedingly decadently. The people of the world are being robbed by these sycophants.


#5

Excuse me, corporations do not pay the 39% or 35% tax rate, maybe a few little guys corporation by not the big guys who can afford accountant and attorneys to take advantage of all their loopholes and more. They are setting up shells or other loopholes to more their US profits elsewhere so it can not be taxed.

How did you get so misinformed? or just a troll?


#6

Trump just gave to China the ability to mine natural gas for Chinese consumption and destroy what is left of West Virginia. The question is how do sheeple survive in Trump/Levin’s America? The answer is they do not.


#7

Where did I say they do? I don’t think you understand how this stuff works.


#8

You implied! and then you fed us repug talking points.


#9

HAHAHAHAHA! “Repug”? Are you a “Lib”? Irony. Read the attachment. Learn something.


#10

Levin’s thorough explanation of unfair taxation is a lot more convincing than Schmidt’s. If the proposed tax reform actually fixed anything, it would be simpler to explain and understand, but not as simply as merely stating it fixes this or that and doesn’t incentivize the transfer of assets overseas. Multi-millionaires hoarding assets overseas has left them rich beyond imagination, yet they want more and they want those who are most in need to have less.


#11

Okay. You tell us whether a Jimmy Carter program - “Home Weatherization Tax Credit” was conservative or liberal? For every dollar spent on household energy conservation, a dollar was credited to the homeowner’s federal income tax. Reagan cancelled the program in 1982, but not before its stimulus effect created innumerable thousands of jobs in construction and manufacturing. Average homes today are more comfortable, cleaner, healthier and more durable as well as more energy efficient. Was this Carter program Liberal or Conservative?


#12

Patently false. It’s not a zero sum game. Most people want to keep more of what they earn.


#13

Yes, “most people want to keep more of what they earn”

Unfortunately, GOP tax cuts will result in most US taxpayers keeping less of what they earn while wealthy Murkins, wealthy foreigners and large corporations will “keep more of what they earn.”


#14

Good. The top 1% of income earners pay close to 50% of all income taxes. The bottom 50% of income earners pay almost nothing < 3%,

Democrats used to openly talk about lowering rates and broadening the base you know.


#15

What’s the difference between slavery and wage-slavery?
Those who make fortunes from those who labor see no difference.


#16

Nobody who gets paid is a slave.


#17

The federal personal income tax only made up 28% of all U.S. government tax collections in 2012. Federal, state and local governments collected $4 trillion in taxes last year; just $1.1 trillion of that was federal personal income tax.

And people with low incomes who don’t pay federal personal income tax do pay lots of those other taxes: payroll tax, state income tax, sales tax, property tax, excise taxes, and more. They pay other taxes indirectly: Workers bear the burden of employer-paid payroll taxes and part of the burden of corporate income taxes.

It is disingenuous to only talk about total amount and not percentage of income.


#18

Its the same at the state level. Top few % pay half. Bottom pays nothing.

At the Fed level we all pay payroll taxes but the bottom 20 million get the EITC to either fully or partially offset it.

Some state like CA have “progressive” fees like car registration so it’s again the same deal. Poor folks don’t drive $70k cars so the rich pay more.


#19

That is just patently false and easy to prove. Almost every state has a regressive taxation schedule.

Read the link. Learn something.


#20

No, it’s 100% true in states like CA, NJ, CT, NY, IL. Sure there are some states with no income tax and some with higher prop or other taxes like TX, but all in all the rich are paying the most. This isn’t a discussion about “progressiveness” or fairness. I am simply pointing out that the top 1% pay the most of the taxes. Even more so at the Federal level. And you people think they are being “greedy” by getting to keep more of their money (although I doubt they get it done, at least the current version).