I don't think corporations should be taxed until they declare dividends. We tend to forget what a corporation really is: A group of people who pooled their money, in order to make a profit for themselves. The tax should be on the profits coming from the company and going into an individual's pocket. Revenues not taxed, but retained by the corporation can than be invested in expansion...Which, ultimately, will lead to jobs (which can then be taxed).
Offsetting losses in a year causing less tax owed shouldn't even be included in the same discussion as the offshore manipulations.
They are going offshore because the corporate tax rate in the US is higher than other countries. If the corporate tax rate was lowered in the US, then they'd bring their income back into the US to pay tax vs taking it offshore.
Don't drive business away & give incentives to take money out of the US including the jobs.
@0HippyHunter0 True, but if you know how GE capital claims loses you would think twice. Say you owe 100 dollars to GE Capital, and you are late. They then charge you a late fee, and interest, and more late fees and so on, then they tax write ALL OF THE FEES off. So you may be late on 100 dollars, but they will tax write off 1000 dollars because they can write off fees owed. This is what many companies that work with loans do, and why fees are so crazy.
I don't think corporations should be taxed until they declare dividends. We tend to forget what a corporation really is: A group of people who pooled their money, in order to make a profit for themselves. The tax should be on the profits coming from the company and going into an individual's pocket. Revenues not taxed, but retained by the corporation can than be invested in expansion...Which, ultimately, will lead to jobs (which can then be taxed).
caltrop69 11 months ago
Offsetting losses in a year causing less tax owed shouldn't even be included in the same discussion as the offshore manipulations.
They are going offshore because the corporate tax rate in the US is higher than other countries. If the corporate tax rate was lowered in the US, then they'd bring their income back into the US to pay tax vs taking it offshore.
Don't drive business away & give incentives to take money out of the US including the jobs.
MegF142857 11 months ago
How is it that they keep overlooking that GE Capital posted a loss. Should GE pay taxes on a negative income?
0HippyHunter0 11 months ago 2
@0HippyHunter0 True, but if you know how GE capital claims loses you would think twice. Say you owe 100 dollars to GE Capital, and you are late. They then charge you a late fee, and interest, and more late fees and so on, then they tax write ALL OF THE FEES off. So you may be late on 100 dollars, but they will tax write off 1000 dollars because they can write off fees owed. This is what many companies that work with loans do, and why fees are so crazy.
bluefootedpig 11 months ago
@bluefootedpig That's then a flaw in the tax code that should be remedied. Writing off fees that should be counted as income doesn't make sense.
MegF142857 11 months ago