[DeTomaso] NPC: Love your country
Konrad Szwab
kszwab at gmail.com
Fri Jan 30 17:34:03 EST 2015
1. The U.S. business lobby never misses an opportunity to point out that
the 35% corporate tax rate is the highest in the industrialized world.
(With state taxes, it’s about 39%.)
2. This is said to compare unfavorably to the statutory rate averages of
around 30% for most industrialized countries (the OECD’s 2012 GDP-weighted
average was 32%).
3. However, what corporations are really concerned about is not the
statutory rate, but the effective tax rate.
4. That rate covers the percent of profits paid in taxes once all the
deductions, credits and other complex provisions of the tax code are taken
into account.
5. The U.S. business lobby is usually completely mum about this rate,
effectively misleading the American and global public.
6. In terms of the effective corporate tax rate, the United States is
actually below the average of the big industrial countries, at about 26%.
7. As a result, the oft-heard claim that the U.S. corporate tax rate is
crippling the competitiveness of American business is, at best, “vastly
overstated.”
8. The real issue in the United States isn’t the level of taxation, but the
huge variation in effective tax rates paid by different companies in
different industries.
9. That is an entirely homemade problem – and the consequence of all the
shady lobbying that happens in Washington, D.C. day in and day out.
10. The U.S. Treasury estimates that U.S. retailers and wholesalers, for
example, pay an average effective federal tax rate of 31%, while U.S.
utilities pay an average of 14%. Other industries fall somewhere in between.
On Fri, Jan 30, 2015 at 4:25 PM, Ken Green via DeTomaso <detomaso at poca.com>
wrote:
> Sad thing is that I looked up why Apple makes products in China. It
> was not labor cost, it is because of the high corporate tax here. Our
> highest in the world corporate taxes are driving manufacturing (and
> jobs) out of the US, and not bringing in more total revenue. What kind
> of idiot does that?
> Ken
> __________________________________________________________________
>
> From: Ron Fogle via DeTomaso <detomaso at poca.com>
> To: knottsj at galstar.com; detomaso at poca.com
> Sent: Friday, January 30, 2015 2:14 PM
> Subject: Re: [DeTomaso] NPC: Love your country
> Hey Gang
> I have trouble wrapping my head around the "big" numbers. I read
> this
> week that Apple sold 75 Million I phones in the past quarter. How do
> you manufacture 75 Million anything in three months, much less
> something as complicated as an I phone. That's 35,000 an hour, or
> 600
> per minute, in the box and ready to go, 24/7 for 90 days. Somebody
> somewhere is busting some serious ass. Also read an article about
> New
> Orleans wanting 250 Billion federal dollars for improvements. That
> works out to like $500,000/household. It starts not making sense....
> I don't even want to try Trillions! I'll be depressed all weekend,
> Ron
> Ronald M. Fogle
> President
> Cuyahoga Valley Management, Inc.
> -----Original Message-----
> From: Jerry Knotts <[1]knottsj at galstar.com>
> To: detomaso <[2]detomaso at poca.com>
> Sent: Fri, Jan 30, 2015 5:00 pm
> Subject: Re: [DeTomaso] NPC: Love your country
> Don't know which side of the aisle I am on but I would prefer not to
> pay my portion of the national debt today. It is $67,000 for each
> man
> woman and child in the country. That amount will handle the debt
> today
> providing there are 300,000,000 people that pay today also.
> Feeling broke,
> jerry knotts
> On 1/30/2015 3:05 PM, Larry Finch via DeTomaso wrote:
> Roland wrote -
> What about the education of your kids? For the costs of highscool and
> college for two kids in the US, you can buy three or more Mustangs in
> your country.
> Not counted the costs of health insurance and welfare. This will bring
> you another few beloved US cars.
> Just my 2 cents.
> ------------------------
> Thanks for that insight, Roland.You understand this issue better than
> many Ameri
> cans do.
> Have you heard about this one -
> Here in the USA, the GOP controlled congress passed a budget bill,
> signed by the
> President, that defunded the IRS 346 million dollars. All in the name
> of reign
> ing in the TAX MONSTER.
> YEA!! Let's stick it to the IRS. That will show them damn government
> revenue age
> nts.
> The IRS commissioner wrote those cuts would result in a loss of $2
> BILLION in lo
> st tax collections.
> Save $346 million but lose $2 billion. Sorry, I guess I just don't
> understand e
> conomics as well as my elected officials.
> I do understand the idea for smaller and more efficient government.
> Many want it
> to be run more efficiently, like a business.
> Therefore, I do not understand the "business" logic of handicapping
> your source
> of income - tax collection.
> I'll stop for now. I'm sure I've already provided fodder for some
> interesting ri
> ght-side-of-the-aisle replies. ;-)
> Larry
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-------------- next part --------------
1. The U.S. business lobby never misses an opportunity to point out
that the 35% corporate tax rate is the highest in the industrialized
world. (With state taxes, itas about 39%.)
2. This is said to compare unfavorably to the statutory rate averages
of around 30% for most industrialized countries (the OECDas 2012
GDP-weighted average was 32%).
3. However, what corporations are really concerned about is not the
statutory rate, but the effective tax rate.
4. That rate covers the percent of profits paid in taxes once all the
deductions, credits and other complex provisions of the tax code are
taken into account.
5. The U.S. business lobby is usually completely mum about this rate,
effectively misleading the American and global public.
6. In terms of the effective corporate tax rate, the United States is
actually below the average of the big industrial countries, at about
26%.
7. As a result, the oft-heard claim that the U.S. corporate tax rate is
crippling the competitiveness of American business is, at best, avastly
overstated.a
8. The real issue in the United States isnat the level of taxation, but
the huge variation in effective tax rates paid by different companies
in different industries.
9. That is an entirely homemade problem a and the consequence of all
the shady lobbying that happens in Washington, D.C. day in and day out.
10. The U.S. Treasury estimates that U.S. retailers and wholesalers,
for example, pay an average effective federal tax rate of 31%, while
U.S. utilities pay an average of 14%. Other industries fall somewhere
in between.
On Fri, Jan 30, 2015 at 4:25 PM, Ken Green via DeTomaso
<[1]detomaso at poca.com> wrote:
A A Sad thing is that I looked up why Apple makes products in
China.A It
A A was not labor cost, it is because of the high corporate tax
here.A Our
A A highest in the world corporate taxes are driving manufacturing
(and
A A jobs) out of the US, and not bringing in more total revenue.A
What kind
A A of idiot does that?
A A Ken
A A
A __________________________________________________________________
A A From: Ron Fogle via DeTomaso <[2]detomaso at poca.com>
A A To: [3]knottsj at galstar.com; [4]detomaso at poca.com
A A Sent: Friday, January 30, 2015 2:14 PM
A A Subject: Re: [DeTomaso] NPC: Love your country
A A A Hey Gang
A A A I have trouble wrapping my head around the "big" numbers.A
I read
A A this
A A A week that Apple sold 75 Million I phones in the past
quarter.A How do
A A A you manufacture 75 Million anything in three months, much
less
A A A something as complicated as an I phone.A That's 35,000 an
hour, or
A A 600
A A A per minute, in the box and ready to go, 24/7 for 90 days.A
Somebody
A A A somewhere is busting some serious ass.A Also read an
article about
A A New
A A A Orleans wanting 250 Billion federal dollars for
improvements.A That
A A A works out to like $500,000/household.A It starts not making
sense....
A A A I don't even want to try Trillions!A I'll be depressed all
weekend,
A A A Ron
A A A Ronald M. Fogle
A A A President
A A A Cuyahoga Valley Management, Inc.
A A A -----Original Message-----
A A A From: Jerry Knotts <[1][5]knottsj at galstar.com>
A A A To: detomaso <[2][6]detomaso at poca.com>
A A A Sent: Fri, Jan 30, 2015 5:00 pm
A A A Subject: Re: [DeTomaso] NPC: Love your country
A A A Don't know which side of the aisle I am on but I would prefer
not to
A A A pay my portion of the national debt today.A It is $67,000 for
each
A A man
A A A woman and child in the country.A That amount will handle the
debt
A A today
A A A providing there areA 300,000,000 people that pay today also.
A A A Feeling broke,
A A A jerry knotts
A A A On 1/30/2015 3:05 PM, Larry Finch via DeTomaso wrote:
A A A Roland wrote -
A A What about the education of your kids? For the costs of highscool
and
A A college for two kids in the US, you can buy three or more Mustangs
in
A A your country.
A A Not counted the costs of health insurance and welfare. This will
bring
A A you another few beloved US cars.
A A Just my 2 cents.
A A ------------------------
A A Thanks for that insight, Roland.You understand this issue better
than
A A many Ameri
A A cans do.
A A Have you heard about this oneA -
A A Here in the USA, the GOP controlled congress passed a budget bill,
A A signed by the
A A President,A that defunded the IRS 346 million dollars. All in the
name
A A of reign
A A ing in the TAX MONSTER.
A A YEA!! Let's stick it to the IRS. That will show them damn
government
A A revenue age
A A nts.
A A The IRS commissioner wrote those cuts would result in a loss of $2
A A BILLION in lo
A A st tax collections.
A A Save $346 million but lose $2 billion.A Sorry, I guess I just
don't
A A understand e
A A conomics as well as my elected officials.
A A I do understand the idea for smaller and more efficient
government.
A A Many want it
A A to be run more efficiently, like a business.
A A Therefore, I do not understand the "business" logic of
handicapping
A A your source
A A of income - tax collection.
A A I'll stop for now. I'm sure I've already provided fodder for some
A A interesting ri
A A ght-side-of-the-aisle replies.A ;-)
A A Larry
A A _______________________________________________
A A Detomaso Forum Managed by POCA
A A Posted emails must not exceed 1.5 Megabytes
A A DeTomaso mailing list
A A [1][1][3][7]DeTomaso at poca.com
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A A To manage your subscription (change email address, unsubscribe,
etc.)
A A use the li
A A nks above.
A A References
A A A 1. [3]mailto:[5][9]DeTomaso at poca.com
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[4][6][10]http://poca.com/mailman/listinfo/detomaso_poca.com
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A A use the
A A links above.
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