U.S. Companies Are Stashing $2.1 Trillion Overseas To Avoid Taxes

HardOCP News

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Hey, maybe all of us can try doing this and see what happens! What do you mean we'll all go to jail? That doesn't seem fair. :(

Eight of the biggest U.S. technology companies added a combined $69 billion to their stockpiled offshore profits over the past year, even as some corporations in other industries felt pressure to bring cash back home. Microsoft Corp., Apple Inc., Google Inc. and five other tech firms now account for more than a fifth of the $2.10 trillion in profits that U.S. companies are holding overseas, according to a Bloomberg News review of the securities filings of 304 corporations.
 

Retronym

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Those dollars were only supposed to exist in the mystical boundaries of the united states borders!
 

schizrade

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Government-Corporation Complex at work. Crony Capitalism. Fucking bullshit.
 

atp1916

[H]ard|DCoTM x1
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One of these days we'll simplify the tax code with a couple extra million lines of appended code to prevent these types of loopholes.
 

tazeat

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Why do people say loopholes when the code specifically allows this by design? There are already a ton of laws to tax what they can, because I'm sure if they could have found a way to tax it the the govt would have.

Kind of like a "gunshow loophole" when private sales are and have been specifically legal forever. Just shows ignorance to the actual law and the intent behind it.
 

Despotes

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Why do people say loopholes when the code specifically allows this by design? There are already a ton of laws to tax what they can, because I'm sure if they could have found a way to tax it the the govt would have.

Kind of like a "gunshow loophole" when private sales are and have been specifically legal forever. Just shows ignorance to the actual law and the intent behind it.
This
 
D

Deleted member 93354

Guest
The solution is controversial but simple:

If we made companies who have offices in the United States track what % of their profits ARE from the United States and then tax them on that amount, it would stop this nonsense. (Of course you would have to reinstate import duties to keep companies from using "shell" distribution centers in other countries) The later is the controversial part.
 

HardOCP News

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Just shows ignorance to the actual law and the intent behind it.

People understand the law just fine, they are saying it isn't fair.

Corporation does it = it's okay

Private citizen does it = jail time

Go ahead and stash your profits overseas and tell me how that works out for you.
 

MrCrispy

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Just because something is legal doesn't make it right.

Laws are passed by the govt to benefit corporations and wealthy, because that's who funds and elects the millionaires who pretend to represent us in Congress.

Or did you really think this country is a democracy?
 

dgingeri

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This is money made overseas that would see a substantial tax rate if moved here, far more than the standard tax rate. They paid their taxes to the countries where their overseas operations were based, and would see basically triple taxation to move it here. For every dollar in profit they made overseas, they'd actually see around ten cents if they moved it here. They could keep it overseas and reinvest it to expand overseas operations. It makes sense for them NOT to move it here. The US government is forcing their hand with this overtaxation, and it is costing us all jobs and raises.
 

Flatline

n00b
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Jun 12, 2004
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55
Umm... how is it costing us jobs and raises if none of the money would ever see the light of American day under your scenario?

nm... not gonna get into it here! ;)
 

mynamehere

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Just because something is legal doesn't make it right.

Laws are passed by the govt to benefit corporations and wealthy, because that's who funds and elects the millionaires who pretend to represent us in Congress.

Or did you really think this country is a democracy?
It's actually a constitutionally limited representative democratic republic.
 

Mohonri

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Or, you know, we could reduce our corporate tax rate from the highest in the developed world, so companies have less incentive to keep it overseas...but that would entail "being nice to corporations", and we can't have that, no siree
 

ianken

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This is money made overseas that would see a substantial tax rate if moved here, far more than the standard tax rate. They paid their taxes to the countries where their overseas operations were based, and would see basically triple taxation to move it here. For every dollar in profit they made overseas, they'd actually see around ten cents if they moved it here. They could keep it overseas and reinvest it to expand overseas operations. It makes sense for them NOT to move it here. The US government is forcing their hand with this overtaxation, and it is costing us all jobs and raises.

Over-taxation? LOL. The actual real tax-rate (not the imaginary one politicians parrot) paid by corporations in the USA is ridiculously low.

Cry me a river. If have to pay 20% or more to the feds, then guess what? So should fucking Exxon. And I have investments, I can defer taxes and I have overseas investments. And I still pay a higher rate than (favorite punching bag) Exxon who pays negative taxes. IE: they get handouts from the feds (that would be from me and the rest of you) in addition to the taxes they don't pay.

I have zero sympathy for the whining about corporate taxes. I carry my weight to prop up our military war orgy and wall-street fetish complex. So should the American corporations cowering behind the might of our military (that I help pay for) and making money off it.

So fucking sick and tired of the whining about this. "OMG if company FOO pays 20% it will destroy America!"

Bullshit. During the height of American middle class and corporate growth taxes were way higher at the top.

But hey. Y'all win the lottery some day right? So we gotta keep the taxes low just in case!


:rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:
 

Retronym

[H]F Junkie
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i'm always looking for ways for american companies to lose comparative advantage while passing more and more costs on to me.
 

TwistedAegis

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Why do people say loopholes when the code specifically allows this by design? There are already a ton of laws to tax what they can, because I'm sure if they could have found a way to tax it the the govt would have.

Kind of like a "gunshow loophole" when private sales are and have been specifically legal forever. Just shows ignorance to the actual law and the intent behind it.

This is money made overseas that would see a substantial tax rate if moved here, far more than the standard tax rate. They paid their taxes to the countries where their overseas operations were based, and would see basically triple taxation to move it here. For every dollar in profit they made overseas, they'd actually see around ten cents if they moved it here. They could keep it overseas and reinvest it to expand overseas operations. It makes sense for them NOT to move it here. The US government is forcing their hand with this overtaxation, and it is costing us all jobs and raises.

It's BS that it's made overseas. Take Apple, for example. They have a foreign subsidiary patent something, or sell them the patent. That foreign subsidiary then licenses the patent back to the parent company; the parent company now "pays" licensing fees out to this foreign company. Now all of a sudden, even though it's all truly the same company at heart, the US company is booking those licensing fees as expenses, reducing its tax burden, while the foreign subsidiary is booking that same money as "profits". It's an illusory shell game, the money actually came from US profits that are shifted solely on paper.

Over-taxation? LOL. The actual real tax-rate (not the imaginary one politicians parrot) paid by corporations in the USA is ridiculously low.

Cry me a river. If have to pay 20% or more to the feds, then guess what? So should fucking Exxon. And I have investments, I can defer taxes and I have overseas investments. And I still pay a higher rate than (favorite punching bag) Exxon who pays negative taxes. IE: they get handouts from the feds (that would be from me and the rest of you) in addition to the taxes they don't pay.

Eisenhower would be lambasted as a socialist Kenyan colonial commie nowadays, what with the 90%+ top rate.

Further, corporate taxes as a percent of government revenue is only 13%. So while corporate profits are at an all time high and individual income has stagnated since the 1970s, they contribute only 13% of what is needed to run the country.

https://static.nationalpriorities.org/images/fb101/2014/ind-corporate-income-tax.png
 

GlowingGhoul

Whines about Whiners
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Jun 13, 2013
Messages
445
Over-taxation? LOL. The actual real tax-rate (not the imaginary one politicians parrot) paid by corporations in the USA is ridiculously low.

Cry me a river. If have to pay 20% or more to the feds, then guess what? So should fucking Exxon. And I have investments, I can defer taxes and I have overseas investments. And I still pay a higher rate than (favorite punching bag) Exxon who pays negative taxes. IE: they get handouts from the feds (that would be from me and the rest of you) in addition to the taxes they don't pay.

I have zero sympathy for the whining about corporate taxes. I carry my weight to prop up our military war orgy and wall-street fetish complex. So should the American corporations cowering behind the might of our military (that I help pay for) and making money off it.

So fucking sick and tired of the whining about this. "OMG if company FOO pays 20% it will destroy America!"

Bullshit. During the height of American middle class and corporate growth taxes were way higher at the top.

But hey. Y'all win the lottery some day right? So we gotta keep the taxes low just in case!


:rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:

So to improve our competitiveness as a nation, we should TAX THE SH!T out of those evil corporations who employ tens of millions of people so the government can re-distribute their profits to those who REALLY DESERVE IT, right?

You have clearly never started or run a business. I'd say it's a pretty likely you're part of the half of the population who pay nothing in federal taxes.

As for Exxon paying a "negative tax rate", well, that's just the cherry on top of your ignorance cake. Go ahead, reassert it with some trite explanation of how they pay a negative tax rate so I can humiliate you some more.
 

Retronym

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It's BS that it's made overseas. Take Apple, for example. They have a foreign subsidiary patent something, or sell them the patent. That foreign subsidiary then licenses the patent back to the parent company; the parent company now "pays" licensing fees out to this foreign company. Now all of a sudden, even though it's all truly the same company at heart, the US company is booking those licensing fees as expenses, reducing its tax burden, while the foreign subsidiary is booking that same money as "profits". It's an illusory shell game, the money actually came from US profits that are shifted solely on paper.

You see what happens, Larry?
 
Joined
Mar 19, 2012
Messages
27
Over-taxation? LOL. The actual real tax-rate (not the imaginary one politicians parrot) paid by corporations in the USA is ridiculously low.

Cry me a river. If have to pay 20% or more to the feds, then guess what? So should fucking Exxon. And I have investments, I can defer taxes and I have overseas investments. And I still pay a higher rate than (favorite punching bag) Exxon who pays negative taxes. IE: they get handouts from the feds (that would be from me and the rest of you) in addition to the taxes they don't pay.

I have zero sympathy for the whining about corporate taxes. I carry my weight to prop up our military war orgy and wall-street fetish complex. So should the American corporations cowering behind the might of our military (that I help pay for) and making money off it.

So fucking sick and tired of the whining about this. "OMG if company FOO pays 20% it will destroy America!"

Bullshit. During the height of American middle class and corporate growth taxes were way higher at the top.

But hey. Y'all win the lottery some day right? So we gotta keep the taxes low just in case!


:rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:

^Found the ignorant, "tollerant" liberal ;)

But seriously, you may want to review the diction used. You sound like an over used mouth peace for the "99%." Just a quick question, do you believe trickle down economics is a thing?
 
D

Deleted member 204526

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I'm all for starving the beast. Good for these companies. I wish more would follow suit.
 

TwistedAegis

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Stagnant median income since the '70s, the complete decoupling of productivity leading to wage increases and the ever increasing income inequality (and decreasing economic mobility) all pretty much quantifiably disprove trickle down economics.
 

Pabuchok

Gawd
Joined
Jun 8, 2000
Messages
662
Government-Corporation Complex at work. Crony Capitalism. Fucking bullshit.

How about the government's bullshit at work? We have the highest corporate tax rate in the world, THE WORLD! Why are people surprised that money is then kept overseas?
 

Retronym

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Stagnant median income since the '70s, the complete decoupling of productivity leading to wage increases and the ever increasing income inequality (and decreasing economic mobility) all pretty much quantifiably disprove trickle down economics.

Your progressive plan is to give money to the rich.

ZIRP.

NIRP.

Fed prints money to buy gov debt, goes through wall street firms.
Wall street has middle-maned trillions in gov. funds.
Feds bought mortgage backed securities, made out to wall street.
ZIRP makes it profitable for banks to lend commercially, makes it cheaper for corporations to borrow money, stimulates stock market.

Wall street says thanks!

*chants*

ZIRP!
ZIRP!
ZIRP!
ZIRP!
ZIRP!

You're being played and you don't even know it.

LMAO
 

heatlesssun

Extremely [H]
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Messages
44,154
Those dollars were only supposed to exist in the mystical boundaries of the united states borders!

I just wonder though how many tax dollars from the US though allow these dollars to be safe in whatever boundaries they do exist. Because if not in US boundaries someone has laid claim to them.

Perhaps all government in the US is evil and inept. I doubt you're suggesting other governments are any better.
 

Retronym

[H]F Junkie
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13,608
I just wonder though how many tax dollars from the US though allow these dollars to be safe in whatever boundaries they do exist. Because if not in US boundaries someone has laid claim to them.

Perhaps all government in the US is evil and inept. I doubt you're suggesting other governments are any better.

I am always told if I dont like it here, to leave.

Well, this is jurisdiction shopping at it's finest.
 

timta2

[H]ard|Gawd
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Messages
1,393
You have clearly never started or run a business. I'd say it's a pretty likely you're part of the half of the population who pay nothing in federal taxes.

You can't expect poor people who have no money and no income to pay taxes. Half the population is that poor, with more are becoming that much poorer everyday, while the rich and corporations obtain more wealth and give less back every day.
 

Smoeki

Gawd
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Aug 31, 2013
Messages
904
Good for them, not sure why people think it's ok to steal money but the people trying to keep what they earned is considering bad. I'd much rather see them keep their money rather than having it stolen by the "do gooders".
 

variant

Gawd
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Feb 17, 2008
Messages
933
Eisenhower would be lambasted as a socialist Kenyan colonial commie nowadays, what with the 90%+ top rate.

The marginal tax rate was over 90%, the actual effective tax rate for $1+ million started at 49.3% in 1953 and was down to 27.2% by 1961.
 

punisher

Supreme [H]ardness
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Messages
6,266
Corporation does it = it's okay

Private citizen does it = jail time

Go ahead and stash your profits overseas and tell me how that works out for you.

I was going to make a post similar to this, but you beat me to it. This is very close to the way individuals are skirting the current crackdown. The only people who have been inconvenienced by the latest round of crackdowns are the fools and the stubborn.
 

gman

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1,887
My 2 cents. If corporations did not exist which I'm sure there are some here who would prefer that then a majority of Americans would be unemployed. Please don't say they would just have another job. We don't need more workers at Starbucks or Walmart, wait that's right they're corporations. Hmm, never mind.:D

I think corporations do get away with stuff that they shouldn't, but it seems the gov't tends to look the other way depending on who's got their hand in who's pocket. It's just like the border. We have laws to prevent people coming into the country illegally, but the gov just looks the other way. It's all frikin politics.
 

heatlesssun

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My 2 cents. If corporations did not exist which I'm sure there are some here who would prefer that then a majority of Americans would be unemployed. Please don't say they would just have another job. We don't need more workers at Starbucks or Walmart, wait that's right they're corporations. Hmm, never mind.:D

I think corporations do get away with stuff that they shouldn't, but it seems the gov't tends to look the other way depending on who's got their hand in who's pocket. It's just like the border. We have laws to prevent people coming into the country illegally, but the gov just looks the other way. It's all frikin politics.

How do the least become the best? Unlikely a question that the richest and most powerful private concerns want answered.
 

ep0x73

2[H]4U
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Messages
2,574
As expected with one of the highest corporate tax rates in the world. If you owned a company would you want to pay taxes twice? If they bring it to the USA the government will want their cut.
 
D

Deleted member 204526

Guest
You can't expect poor people who have no money and no income to pay taxes. Half the population is that poor, with more are becoming that much poorer everyday, while the rich and corporations obtain more wealth and give less back every day.
If you pay no federal income taxes, you shouldn't be allowed to vote in federal elections. If you've no skin in the game, you shouldn't be in the game.
 

DarkStryke

[H]ard|Gawd
Joined
Sep 19, 2001
Messages
1,391
Solution is simple, and already has been done. SCOTUS said corporations are people in that they are allowed to lobby. People get taxed on income made outside the country. The fucking end.

I would laugh but the same nutter ideals that have contributed to ruining your middle class have moved north and ruined ours too.
 

jevans64

Gawd
Joined
Jan 26, 2015
Messages
796
The solution is controversial but simple:

If we made companies who have offices in the United States track what % of their profits ARE from the United States and then tax them on that amount, it would stop this nonsense. (Of course you would have to reinstate import duties to keep companies from using "shell" distribution centers in other countries) The later is the controversial part.

Some US companies are already starting to do this. Forgot what the financial terminology is but it is where a large US corporation buys up a smaller foreign company and then moves the HQ there to avoid paying ANY US taxes. Perfectly legal these days but Congress has been trying to pass legislation making it illegal.
 

tetris42

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Messages
4,518
If you pay no federal income taxes, you shouldn't be allowed to vote in federal elections. If you've no skin in the game, you shouldn't be in the game.
This would be logical if the actions of the federal government didn't affect the poor also. Pretty much every citizen in the country has "skin in the game" just by being alive and affected by the actions of government. Unless of course you're outright advocating plutocracy, in which case, good news for you, that's practically what we have no anyway.
 
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