"Usually depends on what the taxes are for.If for soctal programs, then no it's beneficial the taxes. If it goes to corruption, bribery and whatnot, then said taxes are hurtful."
And since corruption and inefficiency etc. are all inevitable ... Everyone should be erring on the side of less taxes.
If taxes are for revenue to help society or infrastructure, yes, but actually the 1% should be taking on that burden since all their money is sitting in the Caymans. And even if they repatriate it back into the US very little is paid if any, for example: Merck & Co Inc., the second-largest drugmaker in the U.S., last year brought more than $9 billion from abroad without paying any U.S. tax to help finance its acquisition of Schering-Plough Corp., securities filings show. Merck is also appealing a federal judge’s 2009 finding that Schering-Plough owed taxes on $690 million it had earlier brought home from overseas tax-free.
Freedom before equality Why would you be against social programs ? For example, Schools, libraries, Police, fireman, hospitals, roads, bridges, parks....Social Security , Veterans Benefits, Social Security, Disability,....? I'm sorry are you a fascist?
Im not against the idea of social programs and insurances ... Im against them being instituted on a national level where the people are paying for things that solely benefit someone else 1000 miles away. People arent represented properly when you devalue their contributions by spreading them out to others like that. It's not fascism. Youre German ... You should know better than that. Your country helped found it as an ideal.
@chandlerrouse -- First, placing tax burden on the "1%": I suggest you research how this theory worked out for France...Cliff Notes: It was a COMPLETE failure. As for the corporations "dodging" repatriation taxes. This is done because the U.S. has a 35%-39% Corporate Tax Rate, Federally. This is the 3rd highest tax rate on the planet, behind UAE 55% and Chad 40%. However, we have additional taxes levied against Corporations by each state (44 of the 50 states). General state corporate tax rates are 9%-12% in addition to the Federal tax rate. Then there are also local tax rates on corporations in areas as well in 38 states; these all hover around 4%-5%. So corporations are taxed at a rate of around 50%-55%...Do you blame them for finding ways around paying AS MUCH for taxes? Would you rather all corporations remaining in America take off and leaving 52% of the U.S. work force unemployed, and taking about 51% of America's private sector economic output with them to another nation? I sure as heck wouldn't.
But thats Bernies strategy. Go figure right? Chase them away with high taxes ... But at the same time trap them here. Theyre still going to find a way out ... I promise you that. But you need to consider what policy like that does to future businesses wanting to even come here in the first place. You might bleed the ones that are here just a little before they work it out ... But your squelching any new comers and innovation from coming in anymore. I certainly would never start a business here unless I knew 100% that I was going to be able to overcome that tax burden in my profits very very quickly. Anyone questioning whether they will be able to do that will not even try ... Or will try elsewhere.
@FBE -- Well that Bernie plan would be a complete failure. Even if you "trap" a company here domestically, one must always remember that a company, no matter the size or impact on society, is just a name, just as your name is currently your name; nothing more, nothing less. The financials are simply account numbers very loosely attached to a person or persons just as your phone number is very loosely attached to your phone. If a company was "trapped" domestically, the owners could very simply "create" a new subsidiary company, siphon their own personal share values to the new subsidiary, leaving it a separate, privately owned business instead of linking it with the parent directly or even creating an IPO. From there, they can close that small business, liquidate all value, tanking their parent company in the process. Then they setup the same exact business model offshore or overseas to avoid being "trapped" again. There are a number of additional tactics that could be used but I will leave this simple example as the lab work. Bottom line, you are right, there is no way to "trap" a company, especially NOT in the U.S.A.
The real persons to blame are Americans for being so selfish they would trade freebies and handouts for running our nation straight into the ground at warp speed. This is NOT what America is about. America is about sacrificing and doing everything you can and have to in order to make a better life for your children, it's not for holding your hands out at every turn.