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| quote: | Originally posted by Shakka
I don't disagree about loopholes being closed--I think that's a good thing. Perhaps I misinterpreted some of what you were saying earlier with regards to Tyco or any other multinational conglomerates. If they do a lot of business outside of the U.S., then they pay taxes at the rates mandated by the countries where those revenues are generated and harbored. If they want to repatriate those assets, then they generally have to pay some level of taxes on them to the government. And oddly enough, there is a current movement underway which will allow companies to repatriate foreign assets at a substantially reduced tax rate. There's a real dilemma for you. Supposedly, by bringing more assets back to the States, it will be stimulative for our economy--though here they are again getting a break. The flipside being that minus the incentive to do so, these companies would otherwise just keep their assets out of the U.S. Not so much a loophole so much as a Catch 22.
No. Just pointing out the irony.
I love how you give a pass to Democrats on this one. They are ALL guilty of overspending. CONGRESS controls the purse strings, not the president. He may request a lot of spending, but it must be approved. Regardless, congress needs to reign in their discretionary spending on many of the idiotic programs and projects that they blatantly piss money on.
Absolutely. Though easier said than done.
EDIT: With regards to the article posted by the other guy. While there are ceratinly loopholes that need to be closed, it fails to specify as to why some of those companies aren't paying taxes. Perhaps it's because they have years of operating losses than they are legally allowed to carry forward(Just like you and I) to offset future tax liabilities. Surely you don't think that's unfair? Should the needle not move in both directions if the system is to be truly "fair"? |
I think there's a lot of bulk that could be taken out of the budget real fast, starting with the military. I emphasized republicans not because there are not Dems who overspend as well, but they're completely in control and even in the last election Bush was all over the place calling Kerry a "tax & spend liberal" at his invite-only rallies while some Dems like Clinton and Dean (who's been unfairly called far left) have had records of balanced budgets. I think tariffs are the way to go if needed to get some companies to avoid using loopholes. If business is being done in another country, that's different in terms of those sales, but I stand by the assertion that the tax burden has unfairly been moved more onto individuals largely because of offshore tax havens that are in the interests of increasing profits, rather than lost income. The country has experienced economic expansion overall throughout the years, so where some large companies would stumble, others would certainly grow and therefore should maintain the tax revenue level in proportion to population increases and individual tax revenue.
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