Friday
Mar082013
Time To Worry Open
We live in a dangerous world as it is, but North Korea aims to make it even more so, as the crazed nation threatened a pre-emptive nuclear strike against the United States this week...
Have a nice weekend and post what you like.
Permalink | tagged Open Thread, WTF
Reader Comments (33)
Wait! I thought Dennis Rodman solved all of this?
Wait! I thought Dennis Rodman solved all of this?
Nah. Rodman (geopolitical genius that he is) failed to get our Dear Leader to shoot hoops with the Nork Dear Leader. That's what would solve everything.
Announcement was made for this summer's concerts at the County Fair. The Fair is in a small county but gets great attendance and great entertainment year after year.
I like almost any kind of music except Country so I always look for the one Classic Rock night of entertainment.
Makes me sad that 80's bands are now "Classic Rock".
Motley Crue and Tesla. Should be a good show.
The Great Jones County Fair, 2013.
Announcement was made for this summer's concerts at the County Fair. The Fair is in a small county but gets great attendance and great entertainment year after year.
I like almost any kind of music except Country so I always look for the one Classic Rock night of entertainment.
Makes me sad that 80's bands are now "Classic Rock".
Motley Crue and Tesla. Should be a good show.
The Great Jones County Fair, 2013.
Oops. Sorry for double.
Message tried to double again. Strange, using different computer than the 19:53 comment.
Yeah, my Dennis Rodman joke was a lot funnier at 16:55 than it was at 16:56.
Duff - Did you hear that Vince Neal tried to go on stage and perform the other day while suffering with kidney stones in order to not disappoint the fans? He only made it through a few song, but damn if he doesn't have more class in his little finger than Axl Rose has in his whole body. :)
I find it interesting that the left is shiaating' themselves over GE parking a $108 billion overseas because they don't feel like being taxed twice on the same profits. It would be like earning money in Missouri, moving to Illinois and have Illinois also tax you for the money you made in Missouri. Until the “Krack Keynesian” economic majors on the left figure out money resides where it can obtain the highest rate of return and our tax code promotes the exact opposite; were hosed.
Actually if I live in Illinois and work in Missouri I have to pay taxes in Illinois if Illinois taxes are higher than Missouri. Nothing mystical about it really.
GE exists now and has for a long time under the protection of the US Government. Believe me if or when China starts stealing GE's trade secrets they'll be coming a running to the US Government crying foul and looking for protection. We should send them to the Cayman Islands for help instead.
Yeah KwAwk.
Saw that news about Vince Neil, I was worried that I jinxed him by commenting about the band. I like lots of Motley Crue songs but I am also looking forward to Tesla, I really like What You Give.
Thomas, remember how our esteemed Secretary of State, John Freaking Kerry, tried to avoid taxes on his super yacht by hiding it in another state? But never mind; he's a leftist, so it simply doesn't matter what he does.
kwawk;
The point is if you pay state taxes in Illinois over a period of time then move to another state, that state and they demand that you to pay taxes again on the same income over the exact period of time is what the U.S. government is asking of G.E. and hundreds of other companies. It's economic, financial and immoral loser.
(Revised version. One shouldn't post before at least one cup of coffee:)
kwawk;
The point is if you pay state taxes in Illinois over a period of time then move to another state, that state may demand that you pay taxes again on the same income over the exact period of time is what the U.S. government is asking of G.E. and hundreds of other companies. It's economic, financial and immoral loser.
That's not really what's happening as far as I know TM. What is happening is that US companies are making their profit overseas and the US government is saying we'll defer taking taxes out of those profits until the money is repatriated, with the thinking being that the companies will re-invest that money in their operations.
The companies aren't paying double taxes because they're only paying the difference between what local taxes were and US taxes, and they're not being taxed in two different periods for the same income, they're simply paying the taxes they owed and were allowed to defer, when the profits were earned.
Do you really think that a company like GE when they do business overseas isn't relying on US Patent law and enforcement to protect their trade secrets, and aren't relying on the US Navy around the world to protect their trade routes? If not, then why shouldn't GE be willing to kick in taxes to the US government to help offset the cost of those protections?
Kwawk;
The companies pay taxes in the country where the profit was earned. The U.S. says if you bring that money back to the U.S. we also want our taxes for the period of time for which they were earned. Double taxation simple as that.
Not really. The US government gives the company a full credit for taxes paid in the country where they were earned, in effect refunding them the money. That is why it's not double taxation.
Kwawk;
If IBM gets a "full credit" for their offshore taxes, why are they keeping $108 billion offshore? All combined there is over one trillion in corporate profit offshore that isn't being repatriated because they know they'll get a "full credit" for taxes paid?? Makes no sense.
The link is from The HIll today. Btw, taxes for corporations offshore is 35%. Or don't believe me or The Hill.
http://thehill.com/blogs/on-the-money/domestic-taxes/287615-study-corporations-shifting-billions-more-offshore
I see where pet bills are now effected by Obamacare and going up to pay for extra taxes and costs. Grocery chains are concerned they may have to catalogue the calorie counts of all packaged items in their stores. I predict Obamacare will be the most abused and ignored law ever making Prohibition look like a model of compliance.
I saw an article about that, Mr. Miller, at Veterinary news
Sounds like the same medical device tax that is causing higher prices for people is going to cause higher medical costs for pets.
I have always suspected that the Obamacare extra tax on medical devices may have been intended to slow down medical progress so we can save money because longevity may not advance as quickly. Democrats might pretend that tax increases are about fairness, but I think they privately realize that in the real world taxing an activity discourages it.
See the link for a graphic representation of Obamacare.
Beware, shocking image.
Writer for Slate writes relatively honest article about President Obama failing to live up to his promises of transparency.
Out of character for the liberal site, Slate.
It has to do with transfer pricing TM. They sell a product in Germany for example. They run that transaction through a shell company in a country that has very low taxes such as the Cayman Islands. The company is a subsidiary of a US company so they owe US as taxes as being a wholly owned subsidiary of a US company, the product is made in China so they owe taxes in China.
They allocate out as little profits as they can to China to avoid paying Chinese taxes, the allocate out as little profits in Germany as possible to avoid paying German taxes and shelter the income in the Cayman Islands where there is no income tax to avoid repatriation to the US which would cause the to have to pay US taxes.
Then they want to be first in lines if there are say, pirates operating in the Red Sea and interrupting and trade, and they want to be first in line to complain if somebody somewhere in the world is stealing their intellectual property. And ofcourse somebody in the US government must do something about that.
Corporations must be punished, because... er... well, because they're just evil, that's all. Some of them even have the audacity to [gasp] make a profit by means of their own efforts, and pass on gains to the owners of the corporation who put their own money at risk to finance the corporate operations. The nerve of all those dirty bastards!
Again; if GE's tax requirement in the U.S. is "tax nuetral" after credits so to speak, why are they keeping $108 billion off-shore???
Because it's not tax neutral TM. They owe taxes at US rates. If the rate they paid in a foreign country is equal to or more than the US rate then they owe nothing, but they've structured their accounting to avoid paying taxes in other countries so they owe US taxes. Which is why they're not repatriating the money.
Nice display of hysterical rhetoric there Red.
Just trying to fit in with your agenda, kwAwk.
Let's tax the hell out of those evil corporations. They don't need the money, and they probably stole it anyhow, the fargin bastages.
Kwawk Wrote;
"Not really. The US government gives the company a full credit for taxes paid in the country where they were earned, in effect refunding them the money. That is why it's not double taxation."
Full credit brings the tax back to zero or tax neutral. That's not the case. Obama wants his 35% of tax flesh. Someone needs to go back and read their arguments.
They're saying that Fisker is a dead auto company. American taxpayers lost $190 million on that deal. Libs have the gall to say it wasn't so bad due to the other $529 million was frozen and kept from Fisker. Obama is the black angel of death for companies. Btw, that $190 million would buy a lot of WH tours.
TM - No full credit means that they take the taxes paid in a foreign country and offset them the taxes owed here in the US. Thus if you paid a 25% tax rate in Botswana and would owe 29% in the US, you'd end up paying 4% in the US.
If you'd like I could give out a long detailed example of how transfer price works.
I was really wondering about why the Argentinian was chosen as Pope.
Venezuela's acting President has a theory.
kwawk;
LOL, yeah ok......Please memo the CEO's of all the companies parking over a trillion dollars offshore and explain to them how their tax lawyers, accountants and consultants are wrong and your right
What am I supposed to be telling them in this memo that the tax lawyers, accountants and consultants have gotten wrong?