Obama announces plan to close tax loopholes*

Re: Obama announces plan to close tax loopholes*

PostBy: Jeddbird On: Wed May 06, 2009 4:11 pm

I think what I'm hearing is opposition to the proposal based on who is proposing it rather than its merits. By stopping these incentives (that merely avoid fair U.S. taxes ...that you & I have to pay, & shipping American jobs overseas to increase profit, our economy will benefit by billions of dollars & more U.S. jobs.
Take a moment & listen to the actual proposal here
http://www.c-span.org/Watch/Media/2009/05/04/HP/A/18201/Pres+Obama+Sec+Geithner+Remarks+on+Tax+Reform.aspx
This link is broken, either the page no longer exists or there is some other issue like a typo.
& please refrain from the name calling (Socialist, leftwing, etc) that only serves to cloud the issue, which is simply paying fair U.S.Taxes & keeping jobs in this country.

Honest answer please: If this had been proposed by a Republican President as a way to help our economy & use our tax code to provide incentives to provide U.S. jobs, wouldn't you support it as a patriotic proposal?
Jeddbird
 
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Re: Obama announces plan to close tax loopholes*

PostBy: samhill On: Wed May 06, 2009 5:03 pm

I listened to the whole thing over again (heard it live but thought maybe I heard it wrong by some of what I`ve read here) & I still say that I see nothing wrong with this plan no matter who its coming from its in english & I believe I heard & understood all of it & I say IMO its about time. God bless America.
samhill
 
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Re: Obama announces plan to close tax loopholes*

PostBy: KLook On: Wed May 06, 2009 6:01 pm

Samhill, we are looking at the same thing from a different angle. But you think the greedy owners took all the money and left and I think the gov taxes, regulations, and labor unions caused them to not be able to compete with competitors.
My Bro-in-law is a Cape Cod Democrat. He was recently laid of from his big paper co job as the director of IT for North America for Sappi Paper. I bet you a thousand dollars he blames the corporation and I blame the fact that they are making paper way cheaper in other places. We have lost almost all the mill jobs in Maine because of high labor, high power costs, high workmen's comp. and constant harrassment from the enviro crowd. You can't have your cake and eat it to.
If you have the choice to invest your money in a business and make 10 cents per dollar invested and have to work like hell to compy with regulations and fight with unions etc. or put it in the bank and get the same 10 cents while sunning your butt in the Bahama's, what would you chose?

Kevin

Sorry about the socialist comment as pointed out by Jedd, I do tend to us it as I feel we are going that way. I do not believe in more government, period.
KLook
 
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Re: Obama announces plan to close tax loopholes*

PostBy: KLook On: Wed May 06, 2009 6:19 pm

Hey I watched the video also. Sounds great like reasonable gun contol. It is just words and promises. Do you really think that multi-millionaire international businessmen do not have a plan? For every rule created there is another option created. If this does not work you will never hear about it. It will just be used as a campaign ploy to point out how he got tough on corporations. But lets give it a shot and see what happens, I am no expert on international tax shelters. Wish I were! :D It does not sound like it will do any harm but I wouldn't hold my breath for the 210 billion to come in.

Kevin
KLook
 
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Re: Obama announces plan to close tax loopholes*

PostBy: samhill On: Wed May 06, 2009 7:20 pm

Well Klook as for your bro-in-law I`m sorry that he lost his job but I think its more the blame of the internet than anything else & I believe there are going to be a lot more papers going under(been quite a few already). I believe business only pays what it believes it can afford to bottom line. Liars & cheaters are just that & without some government checks & balances we might as well throw in the towel. I can only speak for a few unions that I have experience with here in Pa. don`t know about Maine but here the unions are weak unless its Gov. unions & I don`t think they should be allowed unless there are a lot of changes made. And I may be wrong but I think some in Gov. are finally starting to wake up, the country can`t continue on this path & there has to be some common ground found. I didn`t take kindly to the name calling but I`ll let it drop, I try not to insult anyone just express my opinion as the government of this great country allows us all to do.
samhill
 
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Re: Obama announces plan to close tax loopholes*

PostBy: Jeddbird On: Wed May 06, 2009 7:43 pm

KLook wrote:Sorry about the socialist comment as pointed out by Jedd, I do tend to us it as I feel we are going that way. I do not believe in more government, period.

My compliments! There is no reason why we can't have a nice civil conversation on differing views without starting to throw around the mud. Thanks

KLook wrote:But lets give it a shot and see what happens, I am no expert on international tax shelters. Wish I were! :D It does not sound like it will do any harm but I wouldn't hold my breath for the 210 billion to come in.

Another nice post! I agree. Let's give it a chance. We've been trying the alternative for years & Obama did win by promising change, so let's see if it helps.
Jeddbird
 
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Re: Obama announces plan to close tax loopholes*

PostBy: brckwlt On: Wed May 06, 2009 8:24 pm

Jeddbird wrote:My compliments! There is no reason why we can't have a nice civil conversation on differing views without starting to throw around the mud. Thanks


I knew i should of put this in fsc. But then maybe you wouldnt of commented since you seem like a laid back hippie liberal :P


Jeddbird wrote:Another nice post! I agree. Let's give it a chance. We've been trying the alternative for years & Obama did win by promising change, so let's see if it helps.


I didnt know he promised to say one thing on a monday then say a completely opposite thing the next day. That must be the change he was speaking of.

Im sorry but he pisses me off so much when he comes out and says something like we shutting down school vouchers then the next day he says oh we will let the kids enrolled finshish their education with the schools but no new vouchers.

he does this so he can have his cake and eat it too. or he does this so he can appease the libs then go back on his word and appease the mods.

he is such a fony and trys to appease everyone so he doesnt seem like the bad guy.
brckwlt
 
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Re: Obama announces plan to close tax loopholes*

PostBy: Jeddbird On: Wed May 06, 2009 8:34 pm

brckwlt wrote:knew i should of put this in fsc. But then maybe you wouldnt of commented since you seem like a laid back hippie liberal :P

(climbs to the front of his yellow VW Bus with "Peace" symbols hand painted all over it.....Where did I put that damned bong?!? :mad: )

I'm not a hippie but I try to be laid back. :)

brckwlt wrote:I didnt know he promised to say one thing on a monday then say a completely opposite thing the next day. That must be the change he was speaking of.

Im sorry but he pisses me off so much when he comes out and says something like we shutting down school vouchers then the next day he says oh we will let the kids enrolled finshish their education with the schools but no new vouchers.

he does this so he can have his cake and eat it too. or he does this so he can appease the libs then go back on his word and appease the mods.




he is such a fony and trys to appease everyone so he doesnt seem like the bad guy.


Feel better now? :nono:

So it is the proposer & not the proposal you dislike! :)
Jeddbird
 
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Re: Obama announces plan to close tax loopholes*

PostBy: brckwlt On: Wed May 06, 2009 8:43 pm

Jeddbird wrote:
Feel better now? :nono:

So it is the proposer & not the proposal you dislike! :)


It is both. I dont like his politics or his views on how the country should be run.

and please do me a favor. Dont be a typical lib and play the race card. Its so typical of your kind to say since i dont like obama and his politics that im a racist.

i know thats what you wanted to say and i say you tip toe around it in earlier post so just go ahead and say it if you want, i wont be offended, but ill know it isnt the truth.

just remember i didnt like clintons politics either so i guess that would also make me a honker white hater as well.
brckwlt
 
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Re: Obama announces plan to close tax loopholes*

PostBy: Jeddbird On: Wed May 06, 2009 9:04 pm

brckwlt wrote:and please do me a favor. Dont be a typical lib and play the race card. Its so typical of your kind to say since i dont like obama and his politics that im a racist.

i know thats what you wanted to say and i say you tip toe around it in earlier post so just go ahead and say it if you want, i wont be offended, but ill know it isnt the truth.

just remember i didnt like clintons politics either so i guess that would also make me a honker white hater as well.


Hmmmm, I don't recall making any racial allegation?? :gee:

Seems to me the title of this topic is about closing tax loopholes, not the racial origins of those on each side of the issue????

I understand you dislike the "Proposer"...May I ask why you are opposed to the "Proposal?"
Jeddbird
 
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Re: Obama announces plan to close tax loopholes*

PostBy: brckwlt On: Wed May 06, 2009 9:15 pm

Jeddbird wrote:Hmmmm, I don't recall making any racial allegation?? :gee:

Seems to me the title of this topic is about closing tax loopholes, not the racial origins of those on each side of the issue????
Jeddbird wrote:I think what I'm hearing is opposition to the proposal based on who is proposing it rather than its merits.


your scond quote to me has racial undertones. im not stupid.

I dont like obamas plan because he is going after these companies because he has a tax shortfall, and raised the budget to 4 trillion so he is doing whatever he can to look like a hero and steal money that isnt his from corporations who earned the money and didnt do anything illegal or wrong.

he is trying to take what isnt his and saying he can spend our money better then we can. He thinks he is entitled to all of our money and thinks he owns us.
brckwlt
 
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Re: Obama announces plan to close tax loopholes*

PostBy: CapeCoaler On: Wed May 06, 2009 9:34 pm

If the government were smaller, without all the programs to help everyone and everything, they would need less money and therefore tax everyone less.
The government is you and me, it is our money, let us keep it for ourselves and then let us spend it how we choose.
Small business is what drives the American economy not large corps.
So the big bad American Corps close or get absorbed and become the foreign Corps doing business in the US.
Stop & Shop is owned by Ahold.
Dr. Spock, Benjamin that is, with the '60's free love and lack of responsibilities started the slippery slope!

http://www.drspock.com/about/drbenjaminspock/0,1781,,00.html
This link is broken, either the page no longer exists or there is some other issue like a typo.
CapeCoaler
 
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Re: Obama announces plan to close tax loopholes*

PostBy: KLook On: Wed May 06, 2009 10:03 pm

I guess I am simply amazed at the hatred for people that make lots of money. That is what the country was founded on, the ability to prosper and live as you chose. Why do you think the gov. is the answer to all the problems in the world when nothing the gov does is efficient or without corruption? You continuely talk about the greed of corporations but it is everywhere in our government. Why is that greed different? It is the way to become elected and reelected, steal from the rich and give to the poor. Promise the little guy you will make it better for him, and line your own pockets in the process. There is no difference in the parties, just opposing view points that get more polarized as time passes to keep the masses stirred up. And the masses surge to and fro following the next one to save them.

Kevin
KLook
 
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Re: Obama announces plan to close tax loopholes*

PostBy: mr1precision On: Wed May 06, 2009 10:26 pm

KLook wrote:I guess I am simply amazed at the hatred for people that make lots of money. That is what the country was founded on, the ability to prosper and live as you chose. Why do you think the gov. is the answer to all the problems in the world when nothing the gov does is efficient or without corruption? You continuely talk about the greed of corporations but it is everywhere in our government. Why is that greed different? It is the way to become elected and reelected, steal from the rich and give to the poor. Promise the little guy you will make it better for him, and line your own pockets in the process. There is no difference in the parties, just opposing view points that get more polarized as time passes to keep the masses stirred up. And the masses surge to and fro following the next one to save them.

Kevin

It's nice to hear from someone that has a realistic understanding about the American dream. I find it amazing that the sucessful are branded as evil. Let me tell you, not all corperations are bad. However,those who are bad should be dragged through the mud! One of my pet peeves are companies that hire illegal alliens. They should be fined ten grand a head. How long do you think it would take for that to take affect on these scum bag companies? There's one way to create jobs for Americans.
mr1precision
 
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Re: Obama announces plan to close tax loopholes*

PostBy: mikeandgerry On: Thu May 07, 2009 1:12 am

Tax loopholes are legal gaps in the tax laws. The corporations that take advantage of them are not violating the law as Obama is implying in the video Jeddbird supplied. Tax evasion is a differnt issue.

If congress wishes to change the law, so be it. However, the effect is never one sided. Obama is stating that they will remove the "incentives" to locating jobs overseas and increase the incentives for locating them here. If that is done by taxing a corporation importing a product (a service in this case) it isn't called an "incentive", it's called a tariff and it's a threat to your economic freedom.

What Obama is proposing is to increase the corporate tax rate on an overseas subsidiary from 2% to 35% (the current corporate rate for domestically earned income). How exactly does that provide incentive to return to the US? The corporation will relocate it's operations in Buffalo, NY or Scranton, Pa so that it can pay more tax and pay more for labor as well? Hmmmm....I don't think so.

The corporation will stay overseas where it will continue to save on the labor. If the profits are insufficient, they will sell the business to an overseas entity, pocket the cash, and contract for the service. Then not only will the jobs stay overseas, the profits will also stay in the foreign nation. Those jobs are overseas because the labor is cheaper. They will never be brought back here until the labor markets level out.

Obama will only end up destroying American profits earned by American investors. Also, plan on your customer service levels geting drastically reduced--you may hate talking to Indians in Bangalore about your credit card account but soon you'll either be on hold for three days or not getting service at all.

See it for what it is...a tax revenue raising measure. The last line of this Times article makes it clear:

http://www.nytimes.com/2009/05/06/busin ... 06tax.html

If you want to see jobs created in the United States of America in mass quantities, eliminate all corporate tax. Then tax dividends at the capital gains rates. It will increase investment and jobs and it will also destroy the central banking hold the government has on our souls.
mikeandgerry
 
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