Occupy Movement Explained

[DonV]

Well heck......it would only rank 9th. Pretty sad.

[Bigshrimpin]

http://www.bloomberg.com/news/2011-1...n-islands.html

http://topics.bloomberg.com/the-grea...ate-tax-dodge/

[Blue_Heron]

From the first Bloomberg article:

Medtronic does more than half of its $16 billion in annual sales of pacemakers, defibrillators and other devices in the U.S. It manufactures the equipment at this facility, legacy of a defunct U.S. tax break designed to encourage investment on the poverty-stricken island. Yet, Medtronic credits the income to a mailbox in a Cayman Islands office building.

Ok. US corporations are sheltering lots of income offshore. So i guess the question is whether we vilify the corporations, or whether we blame our government for the second highest corporate tax rate in the world. Corporate profits are subject to tax rates over 30%, and then any profits passed along to stockholders are taxed as personal income.

Regardless of who the bad guys are, we are faced with a simple pragmatic truth. In a global economy where people and corporations can move wherever they choose, They're going to go to the places with the most favorable regulatory and tax environment. Countries with unfavorable economies will continue to be on the losing end of this migration. Obviously, there are other factors that go into where we live and work, but high taxation will eventually drive productive people away. Or it will at least tempt them to find ways to avoid taxes.

Dave

[Islandtrader]

I agree with you Dave...no matter how you slice it or dice it all this Bull Crap starts with the Government, no matter which party is in power.

No one in power right now has the balls to change the tax system. It is broken and yet they go right along and say we need more money.

How many of us on the sight have cut back to match our budget?

The Senate has not passed a budget in what 2 plus years? Come on now don't blame the Companies ...

I read something the other day, (I did not have a chance to verify) that if you taxed everyone over 250K 100% and all corps 100% on all there profits, you would not even pay off a 1/2 year of our debt obligations...

I still like Ronnies quote..."taxing did not get us into trouble...spending did"

[WildBill]

I knew I felt at home at this forum. I'll wait till I can come up with an intelligent response,but after last night's cave by congress it looks like business as usual. "They all succomb to their Masters". Always remember, we do have term limits; Every 2 years at the polls. Get out the message and vote!

[Blue_Heron]

Originally Posted by WildBill

Always remember, we do have term limits; Every 2 years at the polls. Get out the message and vote!

I wish I could believe that fixing our problems was as simple as changing our representation in DC, but I'm afraid our two party system is circling the drain.

I was looking at a national debt clock site yesterday and did a little simple math to put it in perspective. If you compare the federal government's financial situation with a family with an annual income of $100K, it looks like this:

$100,000 Annual income
$152,000 Annual spending
$650,000 Debt

Few would argue that a situation like this is sustainable, but nobody in office, and almost nobody running for office is willing to talk about the painful changes it will take to fix it. Anybody that does talk about it is labeled as a nut or extremist by Demopublican party leadership and the establishment press. It's a train wreck waiting to happen and the more we resist government austerity measures, the more we look like the Greeks and Italians. Face, it, the only difference is the US has better credit. But how long can that last?

[Bigshrimpin]

Originally Posted by Islandtrader

I agree with you Dave...no matter how you slice it or dice it all this Bull Crap starts with the Government, no matter which party is in power.

No one in power right now has the balls to change the tax system. It is broken and yet they go right along and say we need more money.

How many of us on the sight have cut back to match our budget?

The Senate has not passed a budget in what 2 plus years? Come on now don't blame the Companies ...

I read something the other day, (I did not have a chance to verify) that if you taxed everyone over 250K 100% and all corps 100% on all there profits, you would not even pay off a 1/2 year of our debt obligations...

I still like Ronnies quote..."taxing did not get us into trouble...spending did"

Problem is when the government is bought off by corporations. You combine that with media outlets plugging bs propaganda 24 x 7 to push xyz message, so we elect corporate puppet 1, 2, or 3. The "government" / corporate puppets are deciding xyz corporation is too big to fail and that the public must bail them out with tax dollars. Then you have those same puppets deciding on a budget . . . i.e. which company is gonna get a slice of government spending. We are not longer talking about capitalism. Government is not the top of the food chain and NOT working for the people.