Community | August 23, 2011 | 12 comments

Corporations Refuse to Say How Many Jobs They Ship Overseas

source: http://www.nationofchange.org/corporations-asking-huge-tax-break-refuse-say-how-many-jobs-th...

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Buckeye_Bill

http://www.nationofchange.org/corporations-asking-huge-tax-break-refu...

Nation of Change

Travis Waldron
Think Progress / News Analysis
Published: Monday 22 August 2011

As the American economy continues to struggle through a sluggish recovery, some of the nation’s largest corporations are refusing to disclose “a number they don’t want anyone to know”: the number of workers they employ in the United States versus the number employed overseas.

Among the companies are several that are actively lobbying Congress for another special tax break. Apple and Pfizer are members of WinAmerica, a group of corporations lobbying for a tax repatriation holiday that would allow them to bring overseas profits back to the United States at a much lower tax rate than the 35 percent they would normally pay. But those companies, among others, remain secretive about where their actual job creation is taking place, as the Washington Post reports:

So secretive are these companies that they hand the figure over to government statisticians on the condition that officials will release only an aggregate number. The latest data show that multinationals cut 2.9 million jobs in the United States and added 2.4 million overseas between 2000 and 2009.

(Full story can be read @ http://www.nationofchange.org/corporations-asking-huge-tax-break-refuse-say-how-...)
  1. groups:
    Community,   Ending plutocracy for change,   Labor Party,   people over profits,   1 more
  2. tags:
    Jobs,  Community,  Corporations,  Vic Romano's Insane Asylum
  3.     
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12 comments // Corporations Refuse to Say How Many Jobs They Ship Overseas

  • kvb1
    • 0
      kvb1  

    • Here is my suggestion to corporations and RIPublicans about the "tax holiday": You can repatriate your overseas profits at 15% tax, hoever, you must invest 85% in U.S. job creation and not use the money for anything else. If you use it for anything else, paying debt, dividends, creating cash reserves, the penalty is 95% tax on the total brought back to the US.

      If Corporations move money overseas to invest in foreign business, create new jobs overseas or expand overseas operations, that money is taxed at 50%.

      More American with more GOOD PAYING JOBS will in the long run lower costs and prices, as more Americans will be able to afford these products made here.

    • 1 year ago
  • Buckeye_Bill
    • 0
      Buckeye_Bill  
    • kvb1:

      During the Eisenhower Administration, a Republican one I might add, the tx rate was a staggering 90%.

      And what did this do to the wealthy in America?

      It encouraged them to invest in factories, re-equipping factories with new, inventive machinery that in turn created even more jobs. They would LOSE money if they hadn't plowed it back into their companies! That's where their profits were realized. That money couldn't sit on the sidelines doing NOTHING but making MORE money! Which is obscene in it's own right...money making money! Balderdash!

      That money HAD to go to work...just like the millions of men and women that had returned from fighting two wars...WWII and the Korean Conflict!

      So, think about it. If you had ten million dollars that would be taxed at 90%, wouldn't you invest it into YOUR company to keep the IRS hound's fingers off it?

      As Mr. Rogers residing in his neighborhood would say, "I knew you would!".

    • 1 year ago
  • Buckeye_Bill
    • +1
      Buckeye_Bill  

    • Even thinking about negotiating with CRIMINALS about money stashed overseas is WRONG because HIDING money overseas is UNAMERICAN at best and CRIMINAL at worst!

      But, because these corporations have some stupid, manipulated "loopholes" in IRS tax laws that says it's okidoki to move or keep PROFITS out of this country because they may have to pay TAXES on this pile of moola is OBSCENE!

      I say take over one company...lock, stock and barrel and watch all the rest fall in line faster than a kid spending a dollar (used to be a dime) in a candy store.

      That's what I'd do if I were King.

      Of course, I'd have a bullseye target on my forehead that would read, "End Corporate Miseries Here".

    • 1 year ago
  • Hardytoo
    • 0
      Hardytoo  
    • Buckeye_Bill:

      The corporation get away with it, individuals making an honest living in a foreign country abd paying taxes to the foreign country, are being sought, to pay US taxes, even though they aren't living or working in the US. IRS has found a loophole that forces them to pay taxes on ANY earnings, in any country.
      On our CBC National news last night, they talked to several people who've received letters saying they owe the IRS for their ouside-the-US earnings; one university professor is getting dinged about $100,000 on earnings he's paid taxes on in Canada, money earned while he worked here. He's lived here for 20 years.
      The upshot of the story was that the IRS can't collect from the corporations but have found a way to "ding" individuals.
      Immigration lawyers are working on it, but no luck yet.
      It's an unconscionable situation.

    • 1 year ago
  • Buckeye_Bill
    • 0
      Buckeye_Bill  
    • Hardytoo:

      Years ago individual states filed against pro sports players for "money" they earned while playing in a city for one night, for instance, Michael Jordan of the Chicago Bulls playing against the Cleveland Cavaliers IN Cleveland, the city wanted their "share" of what he was paid while bouncing that ball in Ohio! Can you believe it?

      What happened to taxation without representation? My wife used to work in one town over from where we live and had to pay income taxes for her wages there and to the town where we live. Now, our "hometown" does give us a discount on the income tax % we pay, but still, what happened to taxation without representation?

      Was Michael Jordan allowed to vote on ballots for Cleveland? No. Was my wife permitted to vote on issues of that town down the road? No.

      Laws, whether criminal or for taxation purposes, are not written for the rich, but to burden those who aren't. Of course, we all know that's just the way it is.

      But that's what is sooo damn stupid! We don't HAVE to do things just because that's the way things are! We have the power to stop the madness...we just need to Unite...UNIONIZE politically! We need the UNION PARTY! In that we come together for our own benefit!

      Getting that concept throught the thick skulls of the gullible is the toughest task I've ever tried to do.

      }8^| (me straight faced to keep from screaming out loud!)

    • 1 year ago
  • good_stuff
    • 0
      good_stuff  

    • Don't upset the apple users with these facts. They are very self councious, which is why they can't use a pc effectively. Certainly makes you wonder why apple productions cost so much.

    • 1 year ago
  • bailey78
  • letsliveinpeace
  • Buckeye_Bill
    • +1
      Buckeye_Bill  
    • letsliveinpeace:

      And you can tell by the response this story got that not too many have any interest in knowing what's going on and then ask the question, "Where's all the jobs gone off to?"

      Ignorance IS bliss, I suppose.

      NLOL

    • 1 year ago
  • Richard_Wyatt
  • Buckeye_Bill
  • Frosty46
    • +1
      Frosty46  

    • Intelligent, dislocation of goods in stores that sell the goods of these traitors is easy and if careful, safe to do------------moving items to concealed spots inside stores is best way to cause problems. Another is to place items inside freezers if on site. Should the store sell furniture, drawers make great hiding places for small items from offenders. Uber conservative books can easily be misplaced inside most stores. I do this at every opportunity, have for years--don't know if it helps the cause but I think it's fun to do.

      This scam tax repatriation has been done several times in the near past and every time the corps have cheated and laid off even more US workers--after granting big bonuses and buying back their own stocks--no net gain for US workers so far.

    • 1 year ago
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