China moving away from the dollar

XLjedi · 03-26-09, 01:44 PM

Ya know, I don't really wish to get up on my capitalist soapbox but I'm a little tired of people characterizing US corporations with phrases like "greedy self-interests".

It's one thing to poke at the compensation packages of execs and mock the disparity between workforce and executive pay. It's another to just label US corps as greedy compared to foreign corporations.

Most corporations in the US see at least 40% of their earnings go directly to the US Gov't in the form of taxes. US corporations are among the highest taxed entities on the planet. If you want to entice US corporations to do more business inside the US then...

1) Stop making investment in every other country on the planet a tax haven to the US and...

2) Stop penalizing companies for repatriating foreign earned income. Right now if you only pay 25% income taxes in Canada the US would charge you the difference as you brought that money back into the US for reinvestment. The US tax code is keeping foreign earned income offshore.

03-26-09, 01:44 PM	#15
XLjedi Ace of the Deep Join Date: Jun 2005 Location: Palm Beach, Florida Posts: 1,243 Downloads: 53 Uploads: 8	Ya know, I don't really wish to get up on my capitalist soapbox but I'm a little tired of people characterizing US corporations with phrases like "greedy self-interests". It's one thing to poke at the compensation packages of execs and mock the disparity between workforce and executive pay. It's another to just label US corps as greedy compared to foreign corporations. Most corporations in the US see at least 40% of their earnings go directly to the US Gov't in the form of taxes. US corporations are among the highest taxed entities on the planet. If you want to entice US corporations to do more business inside the US then... 1) Stop making investment in every other country on the planet a tax haven to the US and... 2) Stop penalizing companies for repatriating foreign earned income. Right now if you only pay 25% income taxes in Canada the US would charge you the difference as you brought that money back into the US for reinvestment. The US tax code is keeping foreign earned income offshore. __________________