[DeTomaso] NPC: Love your country
Ken Green
kenn_green at yahoo.com
Fri Jan 30 17:47:44 EST 2015
The article I read:
http://www.forbes.com/sites/timworstall/2013/09/25/if-apple-brought-iphone-manufacturing-to-the-us-it-would-cost-them-4-2-billion/
said the rate in china was a lot lower, was the article wrong? Just looked it up and found 15% in China for high tech products.
If that is correct, should there be a 15 to 20% import duty on goods from China to make a fair playing field?
Ken
From: Konrad Szwab <kszwab at gmail.com>
To: Ken Green <kenn_green at yahoo.com>
Cc: Ron Fogle <rfogle1 at aol.com>; "knottsj at galstar.com" <knottsj at galstar.com>; "detomaso at poca.com" <detomaso at poca.com>
Sent: Friday, January 30, 2015 2:34 PM
Subject: Re: [DeTomaso] NPC: Love your country
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 --------------
The article I read:
[1]http://www.forbes.com/sites/timworstall/2013/09/25/if-apple-brought-
iphone-manufacturing-to-the-us-it-would-cost-them-4-2-billion/
said the rate in china was a lot lower, was the article wrong? Just
looked it up and found 15% in China for high tech products.
If that is correct, should there be a 15 to 20% import duty on goods
from China to make a fair playing field?
Ken
__________________________________________________________________
From: Konrad Szwab <kszwab at gmail.com>
To: Ken Green <kenn_green at yahoo.com>
Cc: Ron Fogle <rfogle1 at aol.com>; "knottsj at galstar.com"
<knottsj at galstar.com>; "detomaso at poca.com" <detomaso at poca.com>
Sent: Friday, January 30, 2015 2:34 PM
Subject: Re: [DeTomaso] NPC: Love your country
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
<[2]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 <[3]detomaso at poca.com>
To: [4]knottsj at galstar.com; [5]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][6]knottsj at galstar.com>
To: detomaso <[2][7]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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