On Nov 22, 2:05 am,
dagmargoodb...@yahoo.com wrote:
> On Nov 19, 9:13 pm, Spehro Pefhany <speffS...@interlogDOTyou.knowwhat>
> wrote:
> > On Mon, 19 Nov 2012 17:40:11 -0800 (PST), the renowned
> >
dagmargoodb...@yahoo.com wrote:
> > >On Sunday, November 18, 2012 6:27:35 PM UTC-5, miso wrote:
> > >> It would have confused the tea baggers. It is well known they don't like
> > >> people of color.
>
> > >That's well-known by people who don't know.
<snipped silly parable>
> > >Suppose it was money instead--you loaned Joe the money for whatever it was he needed--pick, shovel, or other. It's the same. He pays you back, with interest. That's your share.
>
> > >A pile of money is the same as a pile of shovels, picks, and anything else--more versatile. It benefits everyone, amplifies productivity. But, not if it's stuck overseas, hiding from double-taxation.
>
> > Whatcha talking about? With no significant exceptions, foreign income
> > taxes may be credited against US taxes owing, which largely eliminates
> > double taxation.
>
> I meant the money, already taxed, would, if repatriated, be subject to
> additional US tax, at one of the world's highest rates.
Unless there was a convenient tax loophole, as there often is. The
headline US corporate tax rate is one of the highest in the world but
the proportion of US corporate profit paid out in corporate tax is
relatively low
> They're added, not compounded; 'tacked on' is perhaps a better phrasing, but
> awkward when trying for 'pithy'.
Granting the nature of the insights on show, "taking the pith" is a
better description.
http://www.urbandictionary.com/define.php?term=take%20the%20piss%20out%20of%20someone
> Repatriating adds another inefficiency. Compliance costs are
> obviously incurred in 1. foreign operations, 2. US tax planning, plus
> 3. in reconciling the optimum strategy between the two.
>
> But, back up out of the weeds, whatever the hit, the perverse
> incentive quite obviously drives capital overseas--people go to great
> lengths to do it--and directs a lot of top-notch human creativity into
> totally unproductive channels.
Rubbish. People have been investing capital overseas as long as there
have been countries with the military clout to ensure that the local
robbers barons won't steal it. Tax breaks are a fairly minor
motivation.
> Apple is, of course, the lodestar of tax innovation. "Think
> different."
The founding tax evaders had the same basic idea back in 1776. They
did use a different mechanism and exploited Radical Enlightenment
propagandists - like Tom Paine - to put a liberal gloss on their
merchantilist antics, but wrote a Moderate Enlightenment constitution
to maintain their grip on the economy.
--
Bill Sloman, Sydney