"The Biggest Tax Scam Ever"
 

http://www.rollingstone.com/politics...-ever-20140827

Effin' traitors. :mad:

I disagree. Corporations are always going to look for ways to maximize shareholder return. Blame Congress for letting lobbyists write bills.

You got that right.

Why do you assume I'm only calling the corps traitors? :confused:

It's bribery.

The briber and the bribee are both guilty.

And blame SCOTUS for declaring that the 1st amendment supports lobbying because it does not, but then I was taught English in school.

And so is libel thru falsehood according to them, someone can lie their ass off without worry to discredit someone and sell their bullshit.

Sent from my SM-N900V using Tapatalk

I assumed nothing Bob. This scam is not new, variations of this has been going on for a while. IIRC, first case to gain media notoriety was Stanley. This is an extension of the same game.

Every business enterprise strives to reduce costs and/or increase profits within a given system. So if there is a loophole, this was created by the lobbyists. Scam is that the Congress allows the lobbyists to lead them by the nose fully aware that the lobbyists are owned by corporations. Heck, even countries have lobbyists.

Yes Rajoo and isn't it strange that lobbying is allegedly justified by the 1st amendment and the word 'people' in that amendment pertains to the 'we the people' in the preamble i.e., citizens not foreign countries. Lobbyists representing foreign countries are guilty of treason.

Not all of them and those are the ones I do business with whenever and wherever possible. No Apple products here for one and HomeDespot can kiss my ass.

Hope your rabies shots are up to date.:)

:D On the rare occasion that I find myself in a HD, I always make it a point to mention unionization within earshot of the store manager. ;)

Obama issues exec order on inversions
 

http://www.washingtonpost.com/busine...y.html?hpid=z4

"The Obama administration took action Monday to discourage corporations from moving their headquarters abroad to avoid U.S. taxes, announcing new rules designed to make such transactions significantly less profitable.
The rules, which take effect immediately, will not block the practice, and Treasury Secretary Jack Lew again called on Congress to enact more far-reaching reforms. But in the meantime, he said, federal officials “cannot wait to address this problem,” which threatens to rob the U.S. Treasury of tens of billions of dollars."

Cool. :)

Republican lawmakers have been unmoved, arguing that the increase in inversions is the direct result of a dysfunctional U.S. tax code and the failure of the White House to aggressively pursue an overhaul. In addition to imposing a 35percent corporate tax rate that is the highest in the developed world, the United States is the only advanced nation that taxes profits that domestic firms earn outside its borders.

“We’ve been down this rabbit hole before. And until the White House gets serious about tax reform, we are going to keep losing good companies and jobs to countries that have or are actively reforming their tax laws,” House Ways and Means Committee Chairman Dave Camp (R-Mich.) said in a written statement. “A few campaign-style speeches and stopgap measures from Treasury won’t do it.”

The Republicans are right on this one. However, waiting for Congress to take meaningful action on tax reform would demand the patience of Job.

It is totally unreasonable to tax profits domestic firms earn outside of our
borders.

Considering that we have the finest Congress money can buy I am sure that their masters could change the tax code anytime they wished. GE did not pay one cent in taxes last year.

Geeze!

This is a bit misleading and has nothing to do with ongoing tax inversions. The reason they didn't pay taxes a couple of years back is that their GE Capitol subsidiary lost immense amounts of money in the real estate crash which offset the earnings in their other market segments.

"With the highest corporate income tax rate among [advanced] nations and the double taxation of international operations, the United States with its tax code has made itself increasingly uncompetitive as we vie for companies to locate and to expand operations here,” writes Michael Faulkender, an associate professor of finance at the University of Maryland.

http://www.csmonitor.com/USA/DC-Deco...needs-Congress

Well the companies that sent jobs offshore are now in a bind;

Shipping is costly and slow

Quality control is difficult if not impossible

Innovation is impossible when you are not actually building the product

They have been doing this for years. Google GE and pick a recent year. Here is one of the recent years, 2013.

The company with the most profits parked overseas is General Electric, according to a new Bloomberg analysis of 83 corporations.

Apple also does something similar. To a degree this is legitimate keeping their offshore operations and profits separate, but this is accounting gimmicks gone awry just to be able to report taxable income close to nothing. Small businesses do not have this advantage, so we continue to pay through our noses. :mad: