keepthefaith Posted July 12, 2015 Share Posted July 12, 2015 US to cut Canada out of TPP http://www.cbc.ca/news/business/u-s-may-cut-canada-out-of-pacific-rim-trade-deal-sources-say-1.3147300 Probably more like Canada saying the deal sucks and we don't want it. Link to comment Share on other sites More sharing options...
Deranged Rhino Posted July 12, 2015 Share Posted July 12, 2015 Probably more like Canada saying the deal sucks and we don't want it. Maybe they just asked to read it... We can't have that happen, can we? Link to comment Share on other sites More sharing options...
Azalin Posted July 12, 2015 Share Posted July 12, 2015 You say that as if there is a difference between corporations and the government these days -- the government dances to the corporate tune, not the other way around. Devil's advocate here - if the government danced to the corporate tune, wouldn't we have lower corporate taxes and less off-shore investing? Link to comment Share on other sites More sharing options...
Deranged Rhino Posted July 12, 2015 Share Posted July 12, 2015 Devil's advocate here - if the government danced to the corporate tune, wouldn't we have lower corporate taxes and less off-shore investing? Since 2008, American corporations have over $2.1 trillion in untaxed foreign profits sitting outside of the country. Link to comment Share on other sites More sharing options...
/dev/null Posted July 12, 2015 Share Posted July 12, 2015 Since 2008, American corporations have over $2.1 trillion in untaxed foreign profits sitting outside of the country. if the government dances to the corporate tune, wouldn't they just rewrite the regulations to allow those profits back into the country? Link to comment Share on other sites More sharing options...
Deranged Rhino Posted July 12, 2015 Share Posted July 12, 2015 if the government dances to the corporate tune, wouldn't they just rewrite the regulations to allow those profits back into the country? They won't need to after the TPP makes corporate entities immune to prosecution from national entities. Serious question, what would happen if me, a private citizen, made it public that I had 1 million in tax sheltered dollars in an offshore account, let alone a trillion? I'm pretty sure the IRS wouldn't just look the other way. We have defense contractors enacting foreign policy, tech corporations working hand in hand with governments to spy on US citizens, and while we faced the biggest financial crisis since the great depression the biggest corporate earners are "hiding" trillions in taxable income outside the US with no repercussions. To top it off we have classified money as speech and corporations as people, which has done nothing less than strip the individual citizen of their power to enact change through the democratic process. But yes, the government is the conductor of the orchestra... Link to comment Share on other sites More sharing options...
TakeYouToTasker Posted July 12, 2015 Share Posted July 12, 2015 (edited) They won't need to after the TPP makes corporate entities immune to prosecution from national entities. Serious question, what would happen if me, a private citizen, made it public that I had 1 million in tax sheltered dollars in an offshore account, let alone a trillion? I'm pretty sure the IRS wouldn't just look the other way. We have defense contractors enacting foreign policy, tech corporations working hand in hand with governments to spy on US citizens, and while we faced the biggest financial crisis since the great depression the biggest corporate earners are "hiding" trillions in taxable income outside the US with no repercussions. To top it off we have classified money as speech and corporations as people, which has done nothing less than strip the individual citizen of their power to enact change through the democratic process. But yes, the government is the conductor of the orchestra... Those dollars were earned by subsidiaries that aren't registered as US corporations. The United States has no authority to tax them. Further, the reason that those earnings are off-shored to subsidiaries, is because the US corporate tax structure is uncompetitive in international markets. Dollars go where they are best treated. Companies would love to repatriate those dollars, but doing so would be irresponsible. The government should drastically slash the corporate tax rate, and grant 100% tax amnesty to companies repatriating off-shore assets. You'd see an almost immediate surge in economic growth and development. Edited July 12, 2015 by TakeYouToTasker Link to comment Share on other sites More sharing options...
Azalin Posted July 12, 2015 Share Posted July 12, 2015 Those dollars were earned by subsidiaries that aren't registered as US corporations. The United States has no authority to tax them. Further, the reason that those earnings are off-shored to subsidiaries, is because the US corporate tax structure is uncompetitive in international markets. Dollars go where they are best treated. Companies would love to repatriate those dollars, but doing so would be irresponsible. The government should drastically slash the corporate tax rate, and grant 100% tax amnesty to companies repatriating off-shore assets. You'd see an almost immediate surge in economic growth an development. This. Link to comment Share on other sites More sharing options...
unbillievable Posted July 12, 2015 Share Posted July 12, 2015 Those dollars were earned by subsidiaries that aren't registered as US corporations. The United States has no authority to tax them. Further, the reason that those earnings are off-shored to subsidiaries, is because the US corporate tax structure is uncompetitive in international markets. Dollars go where they are best treated. Companies would love to repatriate those dollars, but doing so would be irresponsible. The government should drastically slash the corporate tax rate, and grant 100% tax amnesty to companies repatriating off-shore assets. You'd see an almost immediate surge in economic growth and development. This reminds of the the common socialist rant that it's "unfair" that millionaires are allowed to leave after a state raises their income tax. Link to comment Share on other sites More sharing options...
DC Tom Posted July 12, 2015 Share Posted July 12, 2015 We have defense contractors enacting foreign policy, That's complete bull ****. We don't have a foreign policy. Link to comment Share on other sites More sharing options...
meazza Posted July 12, 2015 Share Posted July 12, 2015 They won't need to after the TPP makes corporate entities immune to prosecution from national entities. Serious question, what would happen if me, a private citizen, made it public that I had 1 million in tax sheltered dollars in an offshore account, let alone a trillion? I'm pretty sure the IRS wouldn't just look the other way. We have defense contractors enacting foreign policy, tech corporations working hand in hand with governments to spy on US citizens, and while we faced the biggest financial crisis since the great depression the biggest corporate earners are "hiding" trillions in taxable income outside the US with no repercussions. To top it off we have classified money as speech and corporations as people, which has done nothing less than strip the individual citizen of their power to enact change through the democratic process. But yes, the government is the conductor of the orchestra... It's not hidden and you'd do the same thing. The tax code in developed nations is uncompetitive. Link to comment Share on other sites More sharing options...
GG Posted July 13, 2015 Share Posted July 13, 2015 They won't need to after the TPP makes corporate entities immune to prosecution from national entities. Serious question, what would happen if me, a private citizen, made it public that I had 1 million in tax sheltered dollars in an offshore account, let alone a trillion? I'm pretty sure the IRS wouldn't just look the other way. We have defense contractors enacting foreign policy, tech corporations working hand in hand with governments to spy on US citizens, and while we faced the biggest financial crisis since the great depression the biggest corporate earners are "hiding" trillions in taxable income outside the US with no repercussions. To top it off we have classified money as speech and corporations as people, which has done nothing less than strip the individual citizen of their power to enact change through the democratic process. But yes, the government is the conductor of the orchestra... It is not tax sheltered. The multinationals pay the required foreign tax. There's no requirement for them to bring the foreign earnings back into the US. Here's a question for you. If a company generates >75% of its revenues and profits overseas, why should it remain a US entity and be subject to the silliest corporate tax code? Link to comment Share on other sites More sharing options...
keepthefaith Posted July 13, 2015 Share Posted July 13, 2015 It is not tax sheltered. The multinationals pay the required foreign tax. There's no requirement for them to bring the foreign earnings back into the US. Here's a question for you. If a company generates >75% of its revenues and profits overseas, why should it remain a US entity and be subject to the silliest corporate tax code? Because paying high taxes is the greatest of all patriotic acts so says the left. Link to comment Share on other sites More sharing options...
Deranged Rhino Posted July 28, 2015 Share Posted July 28, 2015 (edited) Bad omen for what's to come with the TPP: The biggest citizen mobilisation in Romania since the anti-communist battles of the early 1990s opposed in 2013 Gabriel Resources' plan to build a cyanide-based gold and silver mine in the Romanian Apuseni Mountains at Rosia Montana. Following the massive street protests, the Romanian parliament decided not to pass legislation that would have allowed the company to go ahead with the mine. The exploration would have involved digging up Rosia Montana and two nearby villages, destroying four mountains and placing a giant cyanide pool in the area. This week, Gabriel Resources officially announced that it filed a request for arbitration against Romania before the World Bank's investment dispute settlement centre. According to the company, “through its actions and inactions, Romania has blocked and prevented implementation of the project, effectively depriving Gabriel entirely of the value of its investments”. Gabriel is able to bring Romania in front of an arbitration tribunal because of bilateral trade treaties Romania signed with Canada (where the company is listed on the stock exchange) and the UK (it is not yet clear whether the company is able to use the treaty with the UK because it has a subsidiary in infamous tax haven Jersey or for another reason). According to information publicised by Gabriel Resources in Romania, the company has up until now invested half a billion US dollars in the country. Yet in an interview given in 2013, Jonathan Henry, the president and CEO of Gabriel said the company would seek as much as $4 billion in damages from Romania if the project does not go ahead. (SNIP) Romania's total healthcare budget is usually around $1.5 billion annually, meaning that losing the arbitration case could potentially cost Romania the equivalent of three years of state health services. An enormous price to pay for the sake of Gabriel's shareholders, the beneficiaries of an eventual arbitration victory by Gabriel. Almost half of the cases settled via the World Bank's instrument are won by corporations. That Gabriel is now asking for damages that Romanian citizens may end up paying is a painful absurdity. http://www.euractiv.com/sections/trade-society/rosia-montana-omen-ttip-316594 Edited July 28, 2015 by GreggyT Link to comment Share on other sites More sharing options...
DC Tom Posted July 28, 2015 Share Posted July 28, 2015 Bad omen for what's to come with the TPP: http://www.euractiv.com/sections/trade-society/rosia-montana-omen-ttip-316594 Almost half of the cases settled via the World Bank's instrument are won by corporations. Scandal! Treachery! How dare countries have a better-than-coin-flip chance of winning a case!... ...wait, what was the point? Stupid !@#$in' writer. Link to comment Share on other sites More sharing options...
meazza Posted July 29, 2015 Share Posted July 29, 2015 Scandal! Treachery! How dare countries have a better-than-coin-flip chance of winning a case!... ...wait, what was the point? Stupid !@#$in' writer. Is it me or is greg getting ripped a new one in every thread? Link to comment Share on other sites More sharing options...
Magox Posted July 29, 2015 Share Posted July 29, 2015 I sense that protectionism will be on the rise. Link to comment Share on other sites More sharing options...
Deranged Rhino Posted July 29, 2015 Share Posted July 29, 2015 Is it me or is greg getting ripped a new one in every thread? I don't think I'm getting ripped a new one in this thread, I'm just posting articles here for discussion purposes. In other threads yes, but it's mostly been deserved. Link to comment Share on other sites More sharing options...
DC Tom Posted July 29, 2015 Share Posted July 29, 2015 Is it me or is greg getting ripped a new one in every thread? I know Greg's work. He didn't write that article. Too many big words. Link to comment Share on other sites More sharing options...
Deranged Rhino Posted July 29, 2015 Share Posted July 29, 2015 Link to comment Share on other sites More sharing options...
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