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Old    McGavin (Shooter)      Join Date: Apr 2010       11-17-2011, 2:56 PM Reply   
http://www.weeklystandard.com/blogs/...ts_609137.html

One more for you to chew on!
Old    Someone Else (deltahoosier)      Join Date: Jun 2002       11-18-2011, 4:14 AM Reply   
Yep. Depreciation of equipment allows them to buy new equipment and has been a business standard for a very long time. It helps the small and large business alike. The "green" crap is trying to have GE buy or develop equipment to help with "global warming". You know, the ol if we put money in the right spot - the environment will be saved routine. They took advantage of the social engineering that everyone has been screaming for.

Basically, you can only count the money from within the US since GE is a global company. That leaves about 5 billion in revenue to discuss. Let's ask this. How many people does GE employ and the tax revenues off the workers and the products they buy. How much equipment does GE buy from others? GE is also part of the S&P 500. They get a ton of investments from retirement plans.
Old    Paul (psudy)      Join Date: Dec 2003       11-18-2011, 8:28 AM Reply   
"Congress recently reinstated the bonus depreciation deduction,
retroactively, for property placed in service in calendar years 2010,
2011, and 2012. As an additional incentive for capital investment,
Congress provided an expensing regime—in the form of a 100%
bonus depreciation deduction—for qualified property acquired and
placed in service on or after September 9, 2010, through December
31, 2011. For qualified property acquired or placed in service in
2010 through 2012, but before or after this period, 50% of the basis
of the qualified property is allowed as a deduction in the tax year
the property is placed in service."
Old    McGavin (Shooter)      Join Date: Apr 2010       11-18-2011, 10:33 AM Reply   
Quote:
Originally Posted by deltahoosier View Post
Yep. Depreciation of equipment allows them to buy new equipment and has been a business standard for a very long time. It helps the small and large business alike. The "green" crap is trying to have GE buy or develop equipment to help with "global warming". You know, the ol if we put money in the right spot - the environment will be saved routine. They took advantage of the social engineering that everyone has been screaming for.

Basically, you can only count the money from within the US since GE is a global company. That leaves about 5 billion in revenue to discuss. Let's ask this. How many people does GE employ and the tax revenues off the workers and the products they buy. How much equipment does GE buy from others? GE is also part of the S&P 500. They get a ton of investments from retirement plans.
Wow...what a bunch of crap. You guys are really drinking that Kool-Aid. did you read the article? They made 14 BILLON dollars and paid nothing! The tax code is so complex it took a 57,000 page tax return.

Here is another one. GE took 25 million in stimulus and laid off 18,000 people. The " they create jobs" doesn't cut it when you don't pay taxes.

lhttp://james4america.wordpress.com/2010/10/11/ge-recipient-of-14-stimulus-grants-24-9-million-and-18000-layoffs/

Google is doing the same thing! What is their excuse?

http://www.youtube.com/watch?v=qagUQ...e_gdata_player

Did you read how UPS paid a 34 percent effective tax rate, while its biggest foreign competitor, DHL, paid a 24 percent tax rate? How is this good for American companies?
Old    Paul (psudy)      Join Date: Dec 2003       11-18-2011, 10:48 AM Reply   
"Did you read how UPS paid a 34 percent effective tax rate, while its biggest foreign competitor, DHL, paid a 24 percent tax rate? How is this good for American companies?"

Its not. Our corporate tax rate is too high, thats why these companies set up tax shelters in foreign countries.

The article is correct. I was just pointing out one of the "loopholes" Obama put into place. It was supposed to stimulate the ecomony by getting companies to invest in capital improvements.

Last edited by psudy; 11-18-2011 at 10:53 AM.
Old    McGavin (Shooter)      Join Date: Apr 2010       11-18-2011, 10:57 AM Reply   
Its not. Our corporate tax rate is too high, thats why these companies set up tax shelters in foreign countries.[/QUOTE]

There will always be overseas tax shelters with tax rates lower than the US. Maybe we should just lower corporate tax to 0% to compete with Bermuda? The middle-class cant payback a 14 trillion dollar national debt without help from the wealthy & US business.
Old    PLR (dbdb)      Join Date: Oct 2005       11-18-2011, 11:56 AM Reply   
Your right Shooter, 34% of 0 is way better than a more competitive rate of an actual return where American companies didn't have to set up an overseas tax shelter to remain competitive.
Old    Paul (psudy)      Join Date: Dec 2003       11-18-2011, 1:05 PM Reply   
So, what are you looking for? kill the deductions, and raise corporate taxes? That should work great.
Old    Jason (jason95gt)      Join Date: May 2006       11-18-2011, 1:06 PM Reply   
And just think how much they paid there accountants to find all these tax loop holes. That money could have been actual tax paid by the company instead of paying them.
Old    McGavin (Shooter)      Join Date: Apr 2010       11-18-2011, 1:10 PM Reply   
Quote:
Originally Posted by dbdb View Post
Your right Shooter, 34% of 0 is way better than a more competitive rate of an actual return where American companies didn't have to set up an overseas tax shelter to remain competitive.
So you think that they will pay 30%, 20%, 10% or even 5% in taxes when they can pay 0% overseas? Greed is good and it doesn't get better than 0%. If they don't want to pay taxes here then they should move, at least we won't need to bail them out or subsidize them any longer.
Old    McGavin (Shooter)      Join Date: Apr 2010       11-18-2011, 1:16 PM Reply   
"The article is correct. I was just pointing out one of the "loopholes" Obama put into place. It was supposed to stimulate the ecomony by getting companies to invest in capital improvements."

I'm so tired of the Obama vs Bush or GOP vs Dems….All of these politicians are at fault. They care not about the country, but what is best for them and thier party. They have shown they would rather destroy this country than work together or allow the other side to succeed. its a never ending cycle! GOP, Dem or tea party...The next president will just do the same crap.
Old    Mik (norcalrider)      Join Date: Jun 2002       11-18-2011, 1:49 PM Reply   
Quote:
Originally Posted by deltahoosier View Post
Yep. Depreciation of equipment allows them to buy new equipment and has been a business standard for a very long time.
California has a business equipment tax (property tax) so after you've paid sales tax to purchase a piece of equipment you pay annually a percentage of the value of that equipment to the Government in form of property tax.

Guess none of these good tax loopholes exist in my state...
Old    PLR (dbdb)      Join Date: Oct 2005       11-18-2011, 1:58 PM Reply   
I'm not sure how many companies use tax shelters in the Bahamas (they are one of the very few 0's in this list), but by looking at this list we are not very competitive. I think if we started trying to attract business back into this country some of our problems (huge trade deficits, high unemployment, large budget deficits) would help clear themselves up. I don't think taking (or keeping depending on how you look at it) the attitude of "pay 30 something % or leave so we don't have to bail you out" is going to work. I could be wrong though.

http://en.wikipedia.org/wiki/Tax_rates_around_the_world
Old    Paul (psudy)      Join Date: Dec 2003       11-18-2011, 2:04 PM Reply   
Quote:
Originally Posted by Shooter View Post
"The article is correct. I was just pointing out one of the "loopholes" Obama put into place. It was supposed to stimulate the ecomony by getting companies to invest in capital improvements."

I'm so tired of the Obama vs Bush or GOP vs Dems….All of these politicians are at fault. They care not about the country, but what is best for them and thier party. They have shown they would rather destroy this country than work together or allow the other side to succeed. its a never ending cycle! GOP, Dem or tea party...The next president will just do the same crap.
It was actually one plan Obama had that I thought was pretty good if you are trying to get companies to spend money.
Old    Someone Else (deltahoosier)      Join Date: Jun 2002       11-20-2011, 4:21 PM Reply   
I don't understand this business about it being greedy. This is why I continue to be amazed about our educational system. Would I call it greed if you wanted to be paid more? Maybe the next time you ask for a raise or you are up for a merit increase or something, the boss should tell you that you are being greedy.

Not sure if you meant to say GE got $25 million in aid from the government but that would only employee about 250 or less people for the year.

I was looking last night and maybe I can find it later but the percentage of corporate taxes compared to other revenue streams for the federal government has remained somewhat stable since 1950. What has increased as a percentage has been payroll taxes. Seems to me, it is better to cut the tax rates and bring them back so they can hire us instead of others.

At the end of the day, I don't care what these class warfare people have you believing, money is going to move to the path of least resistance. Hold on to your feeling about it because the reality is if you hold on to the mindset you are going to be without a job. You can not make them move to America. You small business people do it too with the exception they can not move off shore but they move out of higher tax areas when they can. That is why manufacturing is moving out of California. Whether you like it or not, you have to look at reality.
Old    Justin (newmy79)      Join Date: Jun 2005       11-22-2011, 8:01 AM Reply   
Quote:
Originally Posted by Shooter View Post
"The article is correct. I was just pointing out one of the "loopholes" Obama put into place. It was supposed to stimulate the ecomony by getting companies to invest in capital improvements."

I'm so tired of the Obama vs Bush or GOP vs Dems….All of these politicians are at fault. They care not about the country, but what is best for them and thier party. They have shown they would rather destroy this country than work together or allow the other side to succeed. its a never ending cycle! GOP, Dem or tea party...The next president will just do the same crap.
This statement is the brightest and most poignant one I've seen while lurking these "political debate" threads. I agree 100%! The sooner we all realize this as a country the sooner we can all begin to move forward and enact change. Its the same **** every administration. Politicians are crooked and selfish, Republican or Democrats.

I just had to post this because I agreed with it so much. I don't normally jump in on political disucssions, bit like Shooter I am just tired of hearing the same rhetoric from both sides and their supporters alike.

My $.02

Carry on!

Sent with my Droid Incredible using Tapatalk. Please excuse any typos.

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