Sanders: 'Your $8.99 Netflix subscription is more than the company paid in federal income taxes

Dec 2018
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You can start here: How Fortune 500 Companies Avoid Paying Income Tax

As for me, I've seen it in action at a former employer.

Do tell; given the scenario I've described in post #17, what would you do to get that taxable income back into the US?
Sure, but you won't like it: Congress can implement tighter domestic and international business/tax regulations on the formation of foreign corporate divisions, affiliates and subsidiaries. In addition, implement dynamic international agreements to remedy corporate schemes of tax sheltering and avoidance.
 
Dec 2018
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Sure, but you won't like it: Congress can implement tighter domestic and international business/tax regulations on the formation of foreign corporate divisions, affiliates and subsidiaries. In addition, implement dynamic international agreements to remedy corporate schemes of tax sheltering and avoidance.
How on earth do you suppose the US Congress can prevent a corporation from being formed in Switzerland, or Ireland, or Luxembourg, or Singapore, ... ?

You folks think your policies are far more powerful than they actually are (or can be).
 
Dec 2018
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Unionville Indiana
How on earth do you suppose the US Congress can prevent a corporation from being formed in Switzerland, or Ireland, or Luxembourg, or Singapore, ... ?

You folks think your policies are far more powerful than they actually are (or can be).
The IRS can be of critical assistance - so can friendly foreign governments. Incidentally, those aren't really legitimate corporations being formed - they're small foreign spin offs of corporations (for purposes of tax avoidance) initially chartered in the U.S.

Mandatory transparency and disclosure go a long way in discouraging tax dodging schemes and trickery.
 
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Dec 2018
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New England
The IRS can be of critical assistance - so can friendly foreign governments. Incidentally, those aren't really legitimate corporations being formed - they're small foreign spin offs of corporations (for purposes of tax avoidance) initially chartered in the U.S.

Mandatory transparency and disclosure go a long way in discouraging tax dodging schemes and trickery.
Nope, you're wrong on several fronts.

You will find few "friendly foreign governments" since agreeing to that kind of change means less tax revenue for them. It's a bit like going to your business competitor and saying "Hey, would you mind lowering your quality and raising your prices some? I'm finding it really hard to attract customers with the way things are right now." That's not happening.

Second, there is nothing illegitimate about these corporations. They are entirely legal and there is nothing the US Congress can do to stop them from being formed in jurisdictions outside of the US.

You're just going to have to face up to the reality that your desire to control how businesses behave is no match for the arsenal of options they have in a global market. We'd be far better off making the US a more attractive place to shelter income. I realize that doesn't jibe with the left's anti-business rhetoric, but it there's not much you or I can do about that.
 
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Dec 2018
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Nope, you're wrong on several fronts.

You will find few "friendly foreign governments" since agreeing to that kind of change means less tax revenue for them. It's a bit like going to your business competitor and saying "Hey, would you mind lowering your quality and raising your prices some? I'm finding it really hard to attract customers with the way things are right now." That's not happening.

Second, there is nothing illegitimate about these corporations. They are entirely legal and there is nothing the US Congress can do to stop them from being formed in jurisdictions outside of the US.

You're just going to have to face up to the reality that your desire to control how businesses behave is no match for the arsenal of options they have in a global market. We'd be far better off making the US a more attractive place to shelter income. I realize that doesn't jibe with the left's anti-business rhetoric, but it there's not much you or I can do about that.
More unsubstantiated opinion of the RW and a "there-is-no-alternative" mentality.

I keep getting the distinct impression that you believe the only way to address all social and economic problems is to obsequiously appeal to the top 5% on behalf of the other 95%.

 
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Dec 2018
4,894
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New England
More unsubstantiated opinion of the RW and a "there-is-no-alternative" mentality.

I keep getting the distinct impression that you believe the only way to address all social and economic problems is to obsequiously appeal to the top 5% on behalf of the other 95%.

Class warfare has left you blind to certain economic realities, and one of them is that you cannot tax income earned outside of our borders no matter how hard you try.
 
Dec 2018
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Unionville Indiana
Class warfare has left you blind to certain economic realities, and one of them is that you cannot tax income earned outside of our borders no matter how hard you try.
Poppycock.

If it's a corporation, such as Pepsico, that already files tax returns with the United States IRS, of course, it could easily be taxed assuming the current tax deferral law is amended or repealed.

If you're too blind to read Wyden's article, I'll send you the audio version. Shall I quote passages of it for you?
 
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Dec 2018
4,894
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New England
Poppycock.

If it's a corporation, such as Pepsico, that already files tax returns with the United States IRS, of course, it could easily be taxed assuming the current tax deferral law is amended or repealed.

If you're too blind to read Wyden's article, I'll send you the audio version. Shall I quote passages of it for you?
Yes, please quote the parts that don't have to do with deferrals.