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Politics and Religion

Currency held overseas by companies...
Snowman39 3722 reads
posted

Curious to know what the board thinks...

Interesting segment on how companies are keeping money overseas. It is a result of a 35% tax on monies coming back into the country. Because the money does not come back, they invest it overseas.

Seems to me that might explain our high unemployment rate...

St. Croix1175 reads

What's your rationale? Granted there is $1.9T sitting offshore that's already been taxed in the country where it was earned. I don't blame the U.S. companies for not repatriating the money, and getting hit with a 35% tax. Now if Obama and Congress want to negotiate a one-time lower tax rate tied to new plants being build, hiring, whatever, yeah that might spur employment. But that's not going to happen. maybe it's the same reason the 3 free trade agreements (Colombia, Panama and South Korea) are not signed. We have a lot of dumb fucks in D.C. who have absolutely no clue on how to move an economy.

-- Modified on 8/14/2011 8:20:13 PM

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BreakerMorant2232 reads

so many, Obama, Emmanuel (previous chief of saff) Pelosi, Bernake, Summers, guiethner et al. This may go down as the most clueless cabinet in US Presidential history. The only guy with any brains was Sec. of Defense Robert Gates but he is gone, now.

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willywonka4u961 reads

The GOP allowed for a one time 5% tax on money coming in from overseas, and what happened? More capital flight.

There's a reason for money going overseas, but it ain't the tax code. It's because there's demand in other countries, and there ain't none here. Americans have been living off of sending the wife off to work until that couldn't keep their heads above water. Then they lived off of credit cards and home equity, and now that's gone to hell, and everyone's broke.

Until Joe 6 pack has more money in his pocket, unemployment will remain high. Until we do something about this, our nation is just whistling past the graveyard.

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Snowman391959 reads

You said...

"Until Joe 6 pack has more money in his pocket, unemployment will remain high."

How will Joe 6 pack get more money while unemployment is high?!?!?! They go hand-in-hand.

BTW, the only thing that is going to put money on Joe's pocket is a job. Guess where those come from, those EVIL CORPORATIONS the left always gripes about!! Ironic, isn't it ;-)

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willywonka4u1453 reads

Joe 6 pack can get more money in his pocket by raising his wages. Or marginally, by cutting his taxes. Or but cutting some of his expenses (like health care). 48 million Americans are now on food stamps. Not all of them are unemployed. They're just broke.

As bad as unemployment is, the vast majority of workers have a job. But nobody's spending any money. What does that tell you?

There's only a 6% unemployment rate where I live. Normally, our local mall is filled to the brim with happy consumers. The last half dozen times I've been to that place, it's looked like a fucking ghost town. What does that tell you?

People are fucking broke. They need more income. Until that issue is addressed, this economy is fucked.

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DA_Flex1998 reads

Willy stated the obvious and you clearly demonstrated you don't have a clue.  Demand is the problem here...Corporations are hesitant to hire because of uncertainty of demand, not taxes and not regulation.  The last time the govt allowed repatriation, corporations just paid higher dividends and bought back stock.  They did nothing to invest in infrastructure or hiring.

Since the private sector isn't going to create jobs because of lack of demand.  Then you must be supportive of a jobs program to put more Americans back to work. Perhaps a real and concerted effort to rebuild our crumbling infrastructure, or maybe a real and concerted effort to work on clean energy, etc.  Or are you afraid that this type of effort will add to our debt.  What is it that you want?  

Posted By: Snowman39
You said...

"Until Joe 6 pack has more money in his pocket, unemployment will remain high."

How will Joe 6 pack get more money while unemployment is high?!?!?! They go hand-in-hand.

BTW, the only thing that is going to put money on Joe's pocket is a job. Guess where those come from, those EVIL CORPORATIONS the left always gripes about!! Ironic, isn't it ;-)

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Snowman391680 reads

So basically you and Willy are having trounds figuring out 1+1=2 ;-)

You said....

"Corporations are hesitant to hire because of uncertainty of demand, not taxes and not regulation"

Ask yourself why uncertainity of demand, easy, folks don't have jobs and have little prospect of getting one. In regards to jobs program, you will have a hard time selling that becuase everyone will want to know where the first trillion we spent went. The federal government is about to start cutting jobs i.e. the post office.

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DA_Flex1257 reads

And so am I at your profound ignorance.  Show me a solution.  I've offered mine.

If demand is the problem, How do you generate demand if the private sector is unwilling to do it?

Posted By: Snowman39
So basically you and Willy are having trounds figuring out 1+1=2 ;-)

You said....

"Corporations are hesitant to hire because of uncertainty of demand, not taxes and not regulation"

Ask yourself why uncertainity of demand, easy, folks don't have jobs and have little prospect of getting one. In regards to jobs program, you will have a hard time selling that becuase everyone will want to know where the first trillion we spent went. The federal government is about to start cutting jobs i.e. the post office.

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Snowman391374 reads

I have to agree with JFK, to stimulate the economy you CUT taxes and create an environemnt which is business friendly...

My solution

1) Cut Corporate taxes to money can come back in
2) Add incentives in the tax code which reward the building of manufactuing plants and other capital investment
3) Create payroll tax breaks for the hiring of new employees

We have one of the highest corporate tax rates in the world, and we act suprised that companies keep their money overseas!!! Only a government bureaucrat couldn't figure that one out!!!

While we disagree politically, I think it is a fair statement to say Obama is anti-business. As such, with all the rhetoric about taking the rich, corporate jets, yada yada yada, I would hold onto my reserves as well.

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Timbow1476 reads

Posted By: DA_Flex
Willy stated the obvious and you clearly demonstrated you don't have a clue.  Demand is the problem here...Corporations are hesitant to hire because of uncertainty of demand, not taxes and not regulation.  The last time the govt allowed repatriation, corporations just paid higher dividends and bought back stock.  They did nothing to invest in infrastructure or hiring.

Since the private sector isn't going to create jobs because of lack of demand.  Then you must be supportive of a jobs program to put more Americans back to work. Perhaps a real and concerted effort to rebuild our crumbling infrastructure, or maybe a real and concerted effort to work on clean energy, etc.  Or are you afraid that this type of effort will add to our debt.  What is it that you want?  
Posted By: Snowman39
You said...

"Until Joe 6 pack has more money in his pocket, unemployment will remain high."

How will Joe 6 pack get more money while unemployment is high?!?!?! They go hand-in-hand.

BTW, the only thing that is going to put money on Joe's pocket is a job. Guess where those come from, those EVIL CORPORATIONS the left always gripes about!! Ironic, isn't it ;-)

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willywonka4u1344 reads

Only the nutty Rapture Righties, who think that defaulting on our debt wouldn't do a damn thing to our economy, would think that a 700 billion dollar stimulus, where a third of it was tax cuts, would be enough to solve the loss of 8 trillion dollars from a housing bubble collapse.

We have two serious problems in this country. 1) a shit ton of people are out of work. 2) We have a shitty fucking infrastructure. Gee, I think I see a way out of this problem.

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Timbow1475 reads



-- Modified on 8/15/2011 3:27:16 AM

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willywonka4u1020 reads

If we hadn't laid off as many gov't workers, especially at the state level, that we have, then we wouldn't have a 9.1% unemployment rate, but a 8.2% unemployment rate.

Keep in mind, that the United States has one of the lowest percentages of public workers in compared to it's population in the industrial world. I haven't run the numbers, but I'm betting that if we hired everyone who's unemployed as a gov't worker, you'd still have a lower percentage than public sector workers than they have in Germany, Norway, or Sweden.

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Snowman391361 reads

OH CRAP, NEVER MIND...

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