The tan suit police weigh in on Biden's first 100 days

So the amount of income after taxes doesn't matter to a corporation?  Anyone who believes this is an idiot.

Come on Kevin, explain to us why the owners of a company don't care if they get to keep more money each year with lower overseas tax rates.  This tax increase will, without question, chase more business off shore.

I didn't say they didn't care. That's the way you argue, you say that someone said something and then proceed to criticize that thing they never said. That's cheap, feeble, and weak.

Let's assume that a business entity (corporation, company, etc.) has absolutely no interest in staying in the US--no local ties, no preference on the part of its owners, no input from employees---no reason to stay at all. That's almost never the case, but let's say that it is for Company X. In order to make moving overseas a rational act, the cost of doing so would have to be less than the potential savings. Otherwise, it would make more sense financially to just stay put and swallow the tax increase.

The fact that very, very, very few companies actually have fled overseas in response to a tax increase indicates that the cost of such an increase is easily absorbed, and that the cost of relocating to another country is substantial and acts as a deterrent. You say that a tax increase "will, without question" cause businesses to leave the country. Well, I question that. Show me ONE instance of a major US corporation--let's say a Fortune 500 company--moving out of the country in response to a tax increase in the last fifty years. And when you can't do that, well then, shut your yap and stop lying.

Every fortune 500 company has an overseas presence due to a lower cost of doing business.  When a company decides to open a new operation, it's a simple math problem.  Tax expenses are one of the most important things considered.  When the cost to do business in the US increases, fewer companies will do business here.  It's a fact supported by economics 101.

Biden is stupid, a liar, or a stupid liar.

You say it's a "fact," but you can't prove even one instance of a major company moving overseas as a result of tax increases.

Not every Fortune 500 company has an overseas presence, and those that do operate overseas don't do so because of lower costs; costs are usually higher in overseas locations, due to logistics.

All that aside, let me point out something to you---a company headquartered in the US will still have to pay taxes on profits earned overseas at the same rate it pays taxes on domestic earnings. So your stupid fantasy of companies fleeing overseas to escape taxes is ridiculous.

Someone as stupid as you calling Biden stupid is hilarious.

It took less than a minute

From 2014

Globalization has transformed the economies of both developed and developing countries alike, creating a competitive landscape that puts political pressure on governments across the world. To remain relevant today, countries must adopt policies that will attract and retain jobs. This fact has been underscored in harsh terms by the companies that have fled the United States in search of greener pastures.  According to the OECD, the U.S. corporate tax rate is the highest in the world. Furthermore, U.S. corporations have an estimated $1.95 trillion in retained earnings parked overseas, which cannot be repatriated without incurring substantial taxes

From 2017

Pretending to shift activities offshore is also the main critique of another legal tactic known as an inversion. That's when an American company changes its corporate citizenship by acquiring a firm based in a lower tax country or jurisdiction. Since the 1980s, more than 50 American companies have pulled this off…with 25 such deals in the past five years alone. Samsonite, the century-old luggage maker, moved its tax address from Massachusetts to Luxembourg, where the corporate tax rate is 19 percent. Restaurant Brands International, parent of fast-food chain Burger King, relocated its headquarters from Florida to Canada, where the corporate tax rate is 15 percent. But the number one destination for tax inversions is Ireland where at 12-and-half-percent, the corporate tax rate is nearly two-thirds lower than the U.S

https://www.cnbc.com/2016/04/21/10-iconic-us-companies-that-have-moved-headquarters-abroad.html

Wow. FIFTY WHOLE COMPANIES in THE LAST FORTY YEARS. Truly an epidemic!!!!

However, Tommie-poo...you didn't read this crap very carefully. Those companies didn't move their operations abroad--they merely "moved their tax addresses." So the massive job losses that you and Boiler were whining about simply didn't happen--and won't happen in the future, whether taxes increase or not. These companies that move their headquarters offshore still have the same operations (manufacturing, sales, distribution) in the US and their profits are still taxable at US rates. So jobs aren't affected at all.

Moving a nominal corporate HQ is one thing. Moving all of a company's operations overseas is quite another. Many of these so-called overseas "corporate headquarters" are nothing more than a small office manned by one person. It's a tax dodge, nothing more, and it doesn't really work.

Why not? Because DEMOCRATIC lawmakers have made sure that it doesn't. Corporate profits earned in the US are taxed at the same rate, regardless of the location of the company's HQ.

Nice try, Tommie-poo. You're going to have to learn to think rather than merely cut and paste.

Here's a few graphs...

unemployment stats:https://www.bls.gov/charts/employment-situation/civilian-unemployment-rate.htm

corporate tax rates:  https://tradingeconomics.com/united-states/corporate-tax-rate

I don't see what those graphs tell us that we don't know already, The first one shows historic unemployment rates. The second shows that corporate tax rates dropped after the Trump tax giveaway.

However, by looking at the two graphs, one fact does stand out. Prior to 2017, unemployment rates during the Trump administration had been dropping steadily by about 0.1% a year. After 2017, they continued to drop at the exact same rate--which suggests that the Trump corporate giveaway had no positive effect at all on unemployment. The benefits of the Obama economy continued as before, until, of course, the pandemic hit.

It should also be noted that during the Obama administration, unemployment fell on an average of 0.6% a year. Trump actually slowed that down substantially, and his tax giveaway did nothing to change it. So, so much for the Tucker Carlson crowd's claim that the Orange Turd did so much for the working man.

What happened was that the big corporations took their windfall and used it to fatten themselves up--with stock buybacks. The massive expansion and hiring boom that Republicans assured us would happen never materialized. According to Republican dogma, the tax breaks should have resulted in MORE AMURRICAN JOBZ. But that didn't happen; all that occurred was a continuation of the prior Trump years' modest unemployment reductions.

Kevin is arguing against economics 101............with a straight face, mind you.

Typical lam trying to change the discussion when it goes against him

LAM asked for 1 company & I supplied a link showing 50 companies & then he turns around says it is no big deal.

He then shifts from taxes to jobs.  If companies have over $1 trillion overseas that they can't bring it back, that means there is less money to reinvest back in their companies to expand & hire people. 

Why not? Because DEMOCRATIC lawmakers have made sure that it doesn't. Corporate profits earned in the US are taxed at the same rate, regardless of the location of the company's HQ.

Incorrect, there is over $1 trillion in earnings parked overseas