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Thread: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

  1. #181
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    Quote Originally Posted by Drew S. View Post
    Im interested to see how the foreign earnings piece shakes out. For strategic reasons it would be nice if we moved production back here. The rate stuff is a bunch of garbage.
    Last time I checked, no one in the US is willing to work for $11-13 a day, which is what production/packaging facilities in MExico pay.

    How much of the corporate tax break will ultimately benefit shareholders? How much of that stock is owned by foreign investors? 20%? 30%? A sizable chunk of $ transferred from US people to wealthy foreign investors... News flash, that isn't "putting America first" and they don't give a **** about US jobs.

  2. #182
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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by Drew S. View Post
    Im interested to see how the foreign earnings piece shakes out. For strategic reasons it would be nice if we moved production back here. The rate stuff is a bunch of garbage.
    Corporations publicly plan to pocket the tax cut
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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Middle Class to Get 23% of Tax Cuts for Individuals Under GOP Bill
    https://www.wsj.com/articles/middle-...44268?mod=e2fb
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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Extended quote:

    Middle-income households will get $61 billion in tax cuts in 2019 under the Republican tax plan poised for passage this week, according to an analysis released late Monday by Congress’s Joint Committee on Taxation.

    That amounts to 23% of the tax cuts that go directly to individuals. By 2027, however, these households would get a net tax increase, because tax cuts are set to expire under the proposed law.
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    Quote Originally Posted by Kepler View Post
    Extended quote:
    Well, if the tax cuts expire, wouldn't taxes go up?

    Look at the positive side. It saves the Dems countless hours passing meaningless repeal bills.

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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by joecct View Post
    Well, if the tax cuts expire, wouldn't taxes go up?

    Look at the positive side. It saves the Dems countless hours passing meaningless repeal bills.
    Only the middle class tax cut expires. The corporate and upper income tax cuts are forever.

    Because they're the f-cking POINT of the bill.

    That's the thing Republicans always elide: we don't object to the middle class tax cuts. We just want taxes on the wealthy raised to pay for them, and then raised further to claw back all the theft since 1981.
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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by joecct View Post
    Well, if the tax cuts expire, wouldn't taxes go up?

    Look at the positive side. It saves the Dems countless hours passing meaningless repeal bills.
    Guess which tax cuts don't expire...

    Edit: Thanks a lot Kep...

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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by jerphisch View Post
    Guess which tax cuts don't expire...
    You get the feeling that they think Democrats will have control around that time, and are trying to pin on them a "tax increase", just like 2010?
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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by Drew S. View Post
    Im interested to see how the foreign earnings piece shakes out. For strategic reasons it would be nice if we moved production back here. The rate stuff is a bunch of garbage.
    Side note on this- last time I checked, if a company moved a plant to Puerto Rico, it would be considered moving it to a foreign location, so it would get the extra import tax for moving production off shore. Lest we forget, Puerto Rico, as well as many other islands, are part of the United States, they are just not states. So it's amazing that we tax stuff made by Americans to be sold in the US. What in the world is that? And it just passed.

    I suspect that the hundreds of thousands of Puerto Ricans who moved to Florida will have a big impact on the elections there.

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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by Kepler View Post
    Only the middle class tax cut expires. The corporate and upper income tax cuts are forever.

    Because they're the f-cking POINT of the bill.

    That's the thing Republicans always elide: we don't object to the middle class tax cuts. We just want taxes on the wealthy raised to pay for them, and then raised further to claw back all the theft since 1981.
    Corporate and wealthy subsidies, indeed.

    And the R's continue to blame the poor for government spending all the while they hand money to the rich and corporations.

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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by alfablue View Post
    Side note on this- last time I checked, if a company moved a plant to Puerto Rico, it would be considered moving it to a foreign location, so it would get the extra import tax for moving production off shore. Lest we forget, Puerto Rico, as well as many other islands, are part of the United States, they are just not states. So it's amazing that we tax stuff made by Americans to be sold in the US. What in the world is that? And it just passed.

    I suspect that the hundreds of thousands of Puerto Ricans who moved to Florida will have a big impact on the elections there.
    It's a colony. If it were a territory, they'd be considered as you describe.
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    Quote Originally Posted by Rover View Post
    I'm not happy about it either, but Flag is correct (cue the Twilight Zone music!).
    Quote Originally Posted by French Rage View Post
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    So flaggy: you win.

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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by FlagDUDE08 View Post
    It's a colony. If it were a territory, they'd be considered as you describe.
    dude, they are STILL American citizens. Colony, territory, who cares- we are taxing stuff made in the US for the US and considering it foreign. That is insane.

  13. #193
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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    I will say this about Puerto Rico, they had an opportunity to become a state but said, **** your income tax. Maybe next time that income tax wouldnt be so bad.

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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by joecct View Post
    Well, if the tax cuts expire, wouldn't taxes go up?

    Look at the positive side. It saves the Dems countless hours passing meaningless repeal bills.
    No. Everything but Middle Class and poor people tax cuts are set to never expire.
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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by dxmnkd316 View Post
    I will say this about Puerto Rico, they had an opportunity to become a state but said, “**** your income tax.” Maybe next time that income tax wouldn’t be so bad.
    It apparently got ground up in a local and corrupt political dispute.

    I think 50 states / 100 Senators is a huge psychological barrier to adding more states. We'll have to start expelling a few before the obvious fixes (DC, PR, splitting CA).

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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    This is beautifully stated.

    From The New York Times Opinion Section: "The Republican majority is bulldozing through basic democratic norms as though freedom has everything to do with the tax code and democracy just gets in the way."
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    Quote Originally Posted by ScoobyDoo View Post
    This is beautifully stated.
    When you actually believe taxes are theft, the ends justify the means.

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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by unofan View Post
    When you actually believe taxes are theft, the ends justify the means.
    Yeah, it's interesting how they did that. I kind of need roads and health care and clean water and rules and DOT and a whole bunch of other stuff. Republicans want Somalia. Which I don't understand. I guess those gated communities really provide what they need.
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    Quote Originally Posted by Kepler View Post
    It apparently got ground up in a local and corrupt political dispute.

    I think 50 states / 100 Senators is a huge psychological barrier to adding more states. We'll have to start expelling a few before the obvious fixes (DC, PR, splitting CA).

    I wonder if CT and RI would ever want to join forces with MA and NY. They could potentially save a lot of money as far as running the state goes.

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    Re: Business, Economics & Tax Policy 6.0: Nope, it only found woven strands

    Quote Originally Posted by dxmnkd316 View Post
    I will say this about Puerto Rico, they had an opportunity to become a state but said, “**** your income tax.” Maybe next time that income tax wouldn’t be so bad.
    On June 11, 2017, Puerto Rico held a referendum. The people voted to apply for US Statehood, 97% in favor. Now it's up to Congress to approve Puerto Rico's application as a state, which likely won't happen until both Congress and the White House are in the hands of the Democrats. And it won't be a quick process even then.

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