Paul Ryan talking about hiding your money in The Caymans to avoid taxes
- Thread starter Laughing Man
- Start date
Mitt wants to bring his money ashore? I hope he knows he's going to have a pay a fee for storing his money on the greatest country on earth.
Around the turn of the century 2000/2001 . There were certain offshore banks paying out 14-15% interest in money markets.
Incredible returns just for laying cash in certain institutions.
Incredible returns just for laying cash in certain institutions.
Because Mitt Romney hides millions in the Cayman Islands. So it is just IRONY on display.
under what circumstances?
Yeah, that statement is actually consistent with the conservative platform. They want BUSINESSES to keep more of their money here. The only way that can happen is to effectively create more tax shelters (i.e. incentives, lower rates, etc) within the US tax code for BUSINESSES.
He's not talking about Individual taxes. Rich people always going to do whatever it takes to ensure they pay as low as taxes as possible (legally or illegally). It still looks bad for Mitt as a Presidential candidate to have his money in all those places, but it's not necessarily illegal and it doesn't contradict (directly at least) Ryan's statements in the video.
So this is not a contradictory
He's not talking about Individual taxes. Rich people always going to do whatever it takes to ensure they pay as low as taxes as possible (legally or illegally). It still looks bad for Mitt as a Presidential candidate to have his money in all those places, but it's not necessarily illegal and it doesn't contradict (directly at least) Ryan's statements in the video.
So this is not a contradictory
If you bring manufacturing back to American soil it creates more jobs. Just drive through any small town. Notice how the downtowns are ghost towns, those vacant steel mills, or general factory vacant. All those jobs went overseas bruh. They just didn't just go out of town for the hell fo it. Just like Walmart they used to bring about having Made in America stuff. Total lie when that shit comes from overseas while under cutting the mom and pop stores. That is why our economy is so fucked.
This has nothing to do with why capital should return ashore.
I understand what he meant by his comments, however disingenuous they may be. Basically he is saying the corporate income tax rate is so "usury" that in order to circumvent the tax hit on earnings, many businesses would rather employ the Double Dutch Sandwich and other tax mitigating plans than just pay the tax.
I am a proponent of lowering the corporate income tax rate from the 35% rate, simply because corporations and their shareholders are double taxed: Once when the income is earned at the 35% top rate, and once again at the distribution level when the earnings are taxed by the shareholders.
Ryan is disingenuous because if you give a rich man the option of paying less taxes or NO taxes he will always pick the NO tax option. Incorporating holding companies in the Cayman Islands and Luxembourg means the money can't ever return to the United States without being subject to the corporate income tax, but it can circulate internationally, therefore funding deals that will benefit the domestic corporation.
Even if corporations want to bring those profits back domestically, a lower tax rate might not entice them.
The American people are fucked either way. Either we try to entice multinational corporations to create factories and jobs domestically by subsidizing their endeavors through tax breaks and deductions, or we say fuck off and they keep employing cheap Chinese labor for your fucking iPhones.
I am a proponent of lowering the corporate income tax rate from the 35% rate, simply because corporations and their shareholders are double taxed: Once when the income is earned at the 35% top rate, and once again at the distribution level when the earnings are taxed by the shareholders.
Ryan is disingenuous because if you give a rich man the option of paying less taxes or NO taxes he will always pick the NO tax option. Incorporating holding companies in the Cayman Islands and Luxembourg means the money can't ever return to the United States without being subject to the corporate income tax, but it can circulate internationally, therefore funding deals that will benefit the domestic corporation.
Even if corporations want to bring those profits back domestically, a lower tax rate might not entice them.
The American people are fucked either way. Either we try to entice multinational corporations to create factories and jobs domestically by subsidizing their endeavors through tax breaks and deductions, or we say fuck off and they keep employing cheap Chinese labor for your fucking iPhones.
There's a way to bring that money ashore. Tax them for every minute their money is abroad.
The entire tax code does need to change. And not to allow more shananigans by job creators.
Yeah...I guess listening is fundamental as well...
good knowledge,,let me add that the whole economy needs to be reset,,just like the housing bubble is trying to reset housing prices,,,alot of things in our economy need to be reset so that goods are more affordable and companies can pay a competitive wage in america,,,im not a republican or a conservative,,,but i can see that paying 20=30 dollars an hour for putting in a couple of screws,in a mfg job,,that requires no education or skill is counter productive,,,that practice did grow our middle class and stimulate our economy but it was a short term fix,,,most people don't realize that we are still slaves/serfs and the cost of our enslavement got to be too much,,,,so the slave-masters went and found new cheaper slaves,,,basic economics need to kick in for all of us to survive,,i know people that were working in the auto industry(mfg) making 20 plus/hr,drinking on the job,,,and protected by their powerful unions,,,think back to when america was making shitty cars,,,if you really think about it the crack epidemic hit the black middle age/middle class the worst,,,,we had all this surplus money,,,and cocaine used to be a rich man's drug till someone(cia)figured out how to make the introduction as cheap as weed,,,,i say all this to say,,we as black people need to make some changes,,we hve a very lary economic base and if we used that to our advantage,,,instead of spending our loot on bullshit,,we could dictate to corp/gov what the they are gonna do to get our money
Counter-productive if the goal is for the C-suites & shareholders to cash big checks. Those companies made great profits back then, found a way to make even better profits so they gashed folks where it hurt. Something I've always found funny, is when republicans talk unions they never bring up shit like the USW that run & bogard the refineries on the gulf coast. I had a cac a couple years removed from high school, bragging how I should quit my $60k job to get on with them in the warehouse because he had made $110k in 8 months & it was impossible to get fired because the union wouldn't let it happen...while playing tetris on his iphone in the pit.
They let that good ol boy shit keep thriving & not a word is said about it by the politicians.
Counter-productive if the goal is for the C-suites & shareholders to cash big checks. Those companies made great profits back then, found a way to make even better profits so they gashed folks where it hurt. Something I've always found funny, is when republicans talk unions they never bring up shit like the USW that run & bogard the refineries on the gulf coast. I had a cac a couple years removed from high school, bragging how I should quit my $60k job to get on with them in the warehouse because he had made $110k in 8 months & it was impossible to get fired because the union wouldn't let it happen...while playing tetris on his iphone in the pit.
They let that good ol boy shit keep thriving & not a word is said about it by the politicians.
why you ain't jump on to much politics ?
Counter-productive if the goal is for the C-suites & shareholders to cash big checks. Those companies made great profits back then, found a way to make even better profits so they gashed folks where it hurt. Something I've always found funny, is when republicans talk unions they never bring up shit like the USW that run & bogard the refineries on the gulf coast. I had a cac a couple years removed from high school, bragging how I should quit my $60k job to get on with them in the warehouse because he had made $110k in 8 months & it was impossible to get fired because the union wouldn't let it happen...while playing tetris on his iphone in the pit.
They let that good ol boy shit keep thriving & not a word is said about it by the politicians.
I know a young CAC whos making about 150k right now in one of these Philly unions.
but they can't find a spot for a young brother.
When they say america or we, us, they ain't talking bout u. They not talking about any normal work everyday american regardless of color.
Ehhhh, how is that possible? It's not that simple as having money stashed over seas. It's a concept called transfer pricing where related companies agree on terms for the use of intangible property rights in another country.
It is a completely legal concept that helps many businesses whose main objective is not tax avoidance. The reason Transfer pricing gets the side eye is because huge multinational companies would rather sell rights to their products to their foreign subs to substantially lower their domestic tax exposure.
The actual tax law is rather simple; its the anti-abuse provisions that complicate the code. No flat tax, fair tax, or whatever will stop crafty individuals from not working around the law.
trickle down effect
churchhhhhhhhhhhhhhhhh
I took advantage BEST move ever...
shit like that make me understand why the rep do what they do...
but as far as nov
MY PRESIDENT IS BLACK!!!!!!!!!!!!
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