AT&T Lays Off 1400 After Trump Tax Breaks

[wjboyer1]

AT&T Announces Thousands of Layoffs, Firings Just in Time for Christmas (http://www.newsweek.com/christmas-att-layoffs-midwest-bonuses-trump-758391)

[wjboyer1]

Will companies spend tax savings to create jobs? - Dec. 19, 2017 (http://money.cnn.com/2017/12/19/investing/tax-plan-jobs-trump-ceo-yale-survey/index.html)

Trump's Tax Promises Undercut by CEO Plans to Help Investors - Bloomberg (https://www.bloomberg.com/news/articles/2017-11-29/trump-s-tax-promises-undercut-by-ceo-plans-to-reward-investors)

How corporations will use their tax cut money - Washington Post (https://www.washingtonpost.com/graphics/2017/business/corporations-tax-cut-gop-tax-bill/?utm_term=.32045c0f6e36)

CEOs agree: Corporate tax cuts won't trickle down | TheHill (http://thehill.com/opinion/finance/362949-ceos-agree-corporate-tax-cuts-wont-trickle-down)


73246

[dbussone]

With Tax Reform, AT&T Plans to Increase U.S. Capital Spending $1 Billion and Provide $1,000 Special Bonus to more than 200,000 U.S. Employees (http://about.att.com/story/att_tax_reform.html)


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[wjboyer1]

With Tax Reform, AT&T Plans to Increase U.S. Capital Spending $1 Billion and Provide $1,000 Special Bonus to more than 200,000 U.S. Employees (http://about.att.com/story/att_tax_reform.html)


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with fewer employees

[Allegiance]

Cry boy cry.

Every economic indicator is off the charts. Keep searching for exceptions to the rule.


Lol

Cry boy cry

[dbussone]

with fewer employees



Any very large business is usually in the process of adding to, or subtracting from, its divisions. Those decisions are based on needs, technology changes, and other factors impacting the current economy and changing demands for products.

Oversimplification is merely a way to falsely present a story line that appears to support your case.




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[Byte1]

They could have been gov subsidized and successful like Solyndra. Oh wait.........:confused:

[8notes]

Matthew Gardner, a senior fellow at the liberal Institute on Taxation and Economic Policy, said companies have been sitting on large cash holdings for years that easily could have gone to workers before the tax cuts. Chicago-based Boeing, for example, had $8.8 billion at the end of 2016.

“If these companies had wanted to make these investments in their workforce, they could have done it before now,” Gardner said. “They’re trying to make an unpopular tax bill a little less unpopular.” And they are only sharing a fraction of their bounty.

And now AT&T follows up the "big" announcement with layoffs. What a f@cking joke.

[dirtbanker]

Matthew Gardner, a senior fellow at the liberal Institute on Taxation and Economic Policy, said companies have been sitting on large cash holdings for years that easily could have gone to workers before the tax cuts. Chicago-based Boeing, for example, had $8.8 billion at the end of 2016.

“If these companies had wanted to make these investments in their workforce, they could have done it before now,” Gardner said. “They’re trying to make an unpopular tax bill a little less unpopular.” And they are only sharing a fraction of their bounty.

And now AT&T follows up the "big" announcement with layoffs. What a f@cking joke.

Why don't you explain what benefit their would be to companies that "sat" on their money...

Before you go down the "stupid trail" too far;
money deposited, less expenses = gross income.
Gross income less deductions = net income (the amount you are taxed on)
If boeing has 8.8 billion in cash, they were taxed on it the year it was deposited.
What the decision to invest that capitol does prove; is a lot of companies that had capitol, are now gaining confidence in the economy...must be a reflection of current verses prior President.
Too bad Obamma was too busy brown nosing the Clintons to make America great again!

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[8notes]

Why don't you explain what benefit their would be to companies that "sat" on their money...

Before you go down the "stupid trail" too far;
money deposited, less expenses = gross income.
Gross income less deductions = net income (the amount you are taxed on)
If boeing has 8.8 billion in cash, they were taxed on it the year it was deposited.
What the decision to invest that capitol does prove; is a lot of companies that had capitol, are now gaining confidence in the economy...must be a reflection of current verses prior President.
Too bad Obamma was too busy brown nosing the Clintons to make America great again!

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Before you show everyone how stupid you are, maybe you should take some courses in economics. Economics wizard, you are not. ATT hasn't invested any money they had sitting around. They waited for the handout from their republican politicians, in the form of huge tax cuts, from which they give a paltry amount to some of their workers, and then lay more workers off. And dopes like you think thats okay.

[dirtbanker]

Before you show everyone how stupid you are, maybe you should take some courses in economics. Economics wizard, you are not. ATT hasn't invested any money they had sitting around. They waited for the handout from their republican politicians, in the form of huge tax cuts, from which they give a paltry amount to some of their workers, and then lay more workers off. And dopes like you think thats okay.

You can't read... Again, they paid tax on the 8.8 billion when they earned it.

AT&T is investing in their workforce, they could have kept all the money they earned, but they decided to spend SOME of it on employees.

Yes, I know it is not all of the 8.8 billion like you feel it should be. You don't feel anyone should get wealthy, unless all the employees get wealthy too...the liberial dream!

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[dirtbanker]

Before you show everyone how stupid you are, maybe you should take some courses in economics. Economics wizard, you are not. ATT hasn't invested any money they had sitting around. They waited for the handout from their republican politicians, in the form of huge tax cuts, from which they give a paltry amount to some of their workers, and then lay more workers off. And dopes like you think thats okay.You forgot to explain the benefit of sitting on the money...

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[wjboyer1]

Any very large business is usually in the process of adding to, or subtracting from, its divisions. Those decisions are based on needs, technology changes, and other factors impacting the current economy and changing demands for products.

Oversimplification is merely a way to falsely present a story line that appears to support your case.




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uh, that goes both ways.....oversimplification of Trumpsters saying that his "tax reform" and his "business" culture are equated with a positive economic picture, when we all know that it takes well more than a year for ANY president's actions to be seen positively or negatively in the economy.

[Allegiance]

Boy still failed to explain why he Cherry Picked one item and yet fail to address every single other economic indicator

[ColdNoMore]

Boy still failed to explain why he Cherry Picked one item and yet fail to address every single other economic indicator

You mean the economic indicators that have been going nothing but up...since Obama became POTUS?

Those indicators? :D


1. Only a financial idiot would think that if a company had a demand for their goods or services, that they would wait on some kind of tax break incentive...to hire those additional workers to increase their bottom line.

2. It would take that same level of idiocy to think that a company would automatically give a raise to its workers, if they were currently able to fill their positions adequately... with their current guidelines on remuneration.


Now there may be a few companies that will give a bonus (most likely NOT a pay raise, which is permanent) to try and obfuscate/avoid the criticism of what they're really going to do with that tax break...which is put it into shareholders and company officials pocket.

They will do this of course, by purchasing back their own stock so as to increase their stock price...of which all upper management's bonus pay is partially based.

Now the irony of this is the fact that I will be one of those that benefits greatly from this...through my numerous 401K's and stock holdings. I figure about next fall it will be time to reassess my portfolio however, because if history is any guide...this boom is ripe for busting within a year or so.

The truth of the matter is however, that since about 70% of our economy is consumer based and a much bigger and more fair/lasting impact could have been derived...by giving it directly to the low & middle class consumers.

Which of course, would have driven additional employment demand for most companies now selling more and would have stimulated the economy...in a much fairer and transparent method.

Instead, in one of the few times that Chump hasn't lied through his teeth...he was overheard telling his rich buddies that he just made them a lot richer.


"You all just got a lot richer," Trump tells friends, referencing tax overhaul - CBS News (https://www.cbsnews.com/news/trump-mar-a-lago-christmas-trip/)

President Trump kicked off his holiday weekend at Mar-a-Lago Friday night at a dinner where he told friends, "You all just got a lot richer," referencing the sweeping tax overhaul he signed into law hours earlier. Mr. Trump directed those comments to friends dining nearby at the exclusive club -- including to two friends at a table near the president's who described the remark to CBS News -- as he began his final days of his first year in office in what has become known as the "Winter White House."


And you dumfvck Trump cultists actually believed the trash he was spewing originally about the bill...was the truth :1rotfl:

You cultists do provide a national benefit however, in showing those that think Trump followers couldn't be any dumber or more naive...are dead wrong.

Heck, you're lowering that bar on almost a daily basis...so good job. :thumbup:




Deepest Sincere Wishes: :wave:

[ColdNoMore]

Any very large business is usually in the process of adding to, or subtracting from, its divisions. Those decisions are based on needs, technology changes, and other factors impacting the current economy and changing demands for products.

Oversimplification is merely a way to falsely present a story line that appears to support your case.


I actually agree with you on the underlined sentence...just not in the manner you are hoping. :D

You, Chump and the rest of your ilk have to put a lot of effort in trying to hide the true goal/ramifications of this bill, as I predict that it won't take long for the average hard working American to realize that the few extra dollars in their paychecks is equivalent to the 'trickle down' from a 55 gallon barrel at the top...to a one millimeter hole at the bottom of the funnel.

It's no surprise that a suggestion to the bill for companies to prove they used their windfalls to hire additional workers, expand operations or increased employees wages...was quickly and immediately eviscerated.

Hell, that would be tantamount to proving/disproving all of the hot air rhetoric and lies...of which we can't be having any of that. :ohdear:

Y'all better start now working on the spin in trying to explain the lies and true nature of what occurred...and why it's now all the Dem's fault. :1rotfl:

Good luck with that. :ho:



Deepest Sincere Wishes: :wave:

[Allegiance]

The entire thread is started by a moron who just wants to avoid looking at every single economic indicator!

[Don Baldwin]

Cry boy cry.

Every economic indicator is off the charts. Keep searching for exceptions to the rule.


Lol

Cry boy cry

Propped up...paid for...with DEBT that is "off the charts".

Before you show everyone how stupid you are, maybe you should take some courses in economics. Economics wizard, you are not. ATT hasn't invested any money they had sitting around. They waited for the handout from their republican politicians, in the form of huge tax cuts, from which they give a paltry amount to some of their workers, and then lay more workers off. And dopes like you think thats okay.

They paid...donated...GOOD MONEY to get those tax breaks!

You mean the economic indicators that have been going nothing but up...since Obama became POTUS?

Those indicators? :D


1. Only a financial idiot would think that if a company had a demand for their goods or services, that they would wait on some kind of tax break incentive...to hire those additional workers to increase their bottom line.

2. It would take that same level of idiocy to think that a company would automatically give a raise to its workers, if they were currently able to fill their positions adequately... with their current guidelines on remuneration.


Now there may be a few companies that will give a bonus (most likely NOT a pay raise, which is permanent) to try and obfuscate/avoid the criticism of what they're really going to do with that tax break...which is put it into shareholders and company officials pocket.

They will do this of course, by purchasing back their own stock so as to increase their stock price...of which all upper management's bonus pay is partially based.

Now the irony of this is the fact that I will be one of those that benefits greatly from this...through my numerous 401K's and stock holdings. I figure about next fall it will be time to reassess my portfolio however, because if history is any guide...this boom is ripe for busting within a year or so.

The truth of the matter is however, that since about 70% of our economy is consumer based and a much bigger and more fair/lasting impact could have been derived...by giving it directly to the low & middle class consumers.

Which of course, would have driven additional employment demand for most companies now selling more and would have stimulated the economy...in a much fairer and transparent method.

Instead, in one of the few times that Chump hasn't lied through his teeth...he was overheard telling his rich buddies that he just made them a lot richer.


"You all just got a lot richer," Trump tells friends, referencing tax overhaul - CBS News (https://www.cbsnews.com/news/trump-mar-a-lago-christmas-trip/)



And you dumfvck Trump cultists actually believed the trash he was spewing originally about the bill...was the truth :1rotfl:

You cultists do provide a national benefit however, in showing those that think Trump followers couldn't be any dumber or more naive...are dead wrong.

Heck, you're lowering that bar on almost a daily basis...so good job. :thumbup:




Deepest Sincere Wishes: :wave:

You mean the DEBT that has gone nowhere but UP since Obama?

And Hillary would have cleaned up Washington and made EVERYTHING perfect for everyone...right?

Coldsore...you really are clueless.

The entire thread is started by a moron who just wants to avoid looking at every single economic indicator!

And YOU are a moron who refuses to acknowledge that America IS bankrupt and we CAN'T keep giving to and supporting those who are incapable of providing for themselves. The weakest of the "herd" MUST be culled. HALF the population collects some government benefit...it's TOO MANY. The "poor" MUST become self sufficient.

[Don Baldwin]

You can't read... Again, they paid tax on the 8.8 billion when they earned it.

AT&T is investing in their workforce, they could have kept all the money they earned, but they decided to spend SOME of it on employees.

Yes, I know it is not all of the 8.8 billion like you feel it should be. You don't feel anyone should get wealthy, unless all the employees get wealthy too...the liberial dream!

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Not in America...they didn't pay US income tax. That's what this is all about. "American" companies with overseas operations are "financially" acting like they are foreign companies. Keeping the money earned overseas...overseas...and NOT bringing it "back home" to be taxed.

I'm sure this "giving everyone $1,000" will generate MORE in tax writeoffs than they're actually spending.

If ALL those getting canned were the dead weight minorities...the company could profit immensely. But they won't be...and the company will have to deal with 20% dead weight.

[dirtbanker]

Not in America...they didn't pay US income tax. That's what this is all about. "American" companies with overseas operations are "financially" acting like they are foreign companies. Keeping the money earned overseas...overseas...and NOT bringing it "back home" to be taxed.

I'm sure this "giving everyone $1,000" will generate MORE in tax writeoffs than they're actually spending.

If ALL those getting canned were the dead weight minorities...the company could profit immensely. But they won't be...and the company will have to deal with 20% dead weight.Those days have been over for sometime.

I can tell you that in order to spend the money here in the states, they will have to pay tax on it. To deposit money earned here in the states into a foriegn account, they will have to report it and pay tax on it.
There are several laws on the books to deal with reporting of foreign bank accounts;
Bank Secrecy Act.
FDIC 1010.610 and 1010.620
IRS requires an FBAR by June 30 each year.
The US has a banking agreement with almost every country in the world. The US provides software to those countries (software to root out their tax cheats) in return information of foriegn accounts held by US citizens and companies.


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[maureenod]

Those days have been over for sometime.

I can tell you that in order to spend the money here in the states, they will have to pay tax on it. To deposit money earned here in the states into a foriegn account, they will have to report it and pay tax on it.
There are several laws on the books to deal with reporting of foreign bank accounts;
Bank Secrecy Act.
FDIC 1010.610 and 1010.620
IRS requires an FBAR by June 30 each year.
The US has a banking agreement with almost every country in the world. The US provides software to those countries (software to root out their tax cheats) in return information of foriegn accounts held by US citizens and companies.


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I can't successfully post a link but just Google "Apple's cash mountain grows to $178bn." Held offshore

[dirtbanker]

I can't successfully post a link but just Google "Apple's cash mountain grows to $178bn." Held offshoreIt doesn't matter if it's held offshore, it still has to be reported...

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[Allegiance]

I can't successfully post a link but just Google "Apple's cash mountain grows to $178bn." Held offshoreWith the new tax rule on full same year deduction for investment, look for Apple to make a hugh plant investment in America.

Making america even hugely greater.

[Don Baldwin]

Those days have been over for sometime.

I can tell you that in order to spend the money here in the states, they will have to pay tax on it. To deposit money earned here in the states into a foriegn account, they will have to report it and pay tax on it.
There are several laws on the books to deal with reporting of foreign bank accounts;
Bank Secrecy Act.
FDIC 1010.610 and 1010.620
IRS requires an FBAR by June 30 each year.
The US has a banking agreement with almost every country in the world. The US provides software to those countries (software to root out their tax cheats) in return information of foriegn accounts held by US citizens and companies.


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You're talking about an INDIVIDUAL.

It doesn't matter if it's held offshore, it still has to be reported...

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"As of December, the company had $246.09 billion total cash, cash equivalents, and securities. Apple, like many big American companies, parks most of that cash offshore rather than paying U.S. taxes on its overseas profits. "

"Apple Chief Executive Tim Cook early this year said he was eager to bring cash home if tax changes enabled it."

"Apple cash and cash equivalents are spread across short- and long-term securities, including corporate securities, U.S. Treasury securities and money-market funds. "

You don't pay US taxes until you bring the money into the US. They invest from an overseas location and all profits can be kept there tax free UNTIL you want to bring the profits here to America.

[8notes]

With the new tax rule on full same year deduction for investment, look for Apple to make a hugh plant investment in America.

Making america even hugely greater. Not so fast:

Analysts are saying the bulk of any money brought back to the states will go into increased dividends and payouts to stockholders. Apple's top priority will likely be "accelerated" share buybacks. Apple has already committed to a $300 billion capital return program that includes buybacks and dividends for shareholders. Noticeably absent from the list: Reinvesting the money in American workers, either through expanding its operations and supply chain at home, or substantial pay increases for U.S. employees.

[dirtbanker]

Not so fast:

Analysts are saying the bulk of any money brought back to the states will go into increased dividends and payouts to stockholders. Apple's top priority will likely be "accelerated" share buybacks. Apple has already committed to a $300 billion capital return program that includes buybacks and dividends for shareholders. Noticeably absent from the list: Reinvesting the money in American workers, either through expanding its operations and supply chain at home, or substantial pay increases for U.S. employees.What is your point? They were already taxed on the money when they reported it. Are you suggesting that they are not allowed to spend their money anyway they want? If so, please share your plans for spending any money you have, and let us tell you what we think of your plans.

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[dirtbanker]

Oh fvck - it just dawned on me, you feel they should donate all their money to welfare recipients...

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[Don Baldwin]

What is your point? They were already taxed on the money when they reported it. Are you suggesting that they are not allowed to spend their money anyway they want? If so, please share your plans for spending any money you have, and let us tell you what we think of your plans.

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NO...they were not "already taxed"...not by America. There's nothing to report. They don't pay American taxes on overseas profits until they bring those profits back.

That's the whole point of this. $285 billion sitting overseas in foreign accounts...taxed by the country they're in...but not taxed by the USA...UNTIL...they bring it here.

Oh fvck - it just dawned on me, you feel they should donate all their money to welfare recipients...

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OVER a $ trillion a year goes to the worthless eaters. Guess the species....it ends in Africanus. Hispanics are right on their ass though when it comes to the welfare gravy train. Besides...they killed us with their anchor babies.

[dirtbanker]

NO...they were not "already taxed"...not by America. There's nothing to report. They don't pay American taxes on overseas profits until they bring those profits back.

That's the whole point of this. $285 billion sitting overseas in foreign accounts...taxed by the country they're in...but not taxed by the USA...UNTIL...they bring it here.



Income from Abroad is Taxable | Internal Revenue Service (https://www.irs.gov/businesses/income-from-abroad-is-taxable)

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[Don Baldwin]

Income from Abroad is Taxable | Internal Revenue Service (https://www.irs.gov/businesses/income-from-abroad-is-taxable)

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Read this REAL f@cking slow...

YOU are talking about INDIVIDUALS and NOT corporations.

[Bog99]

Will companies spend tax savings to create jobs? - Dec. 19, 2017 (http://money.cnn.com/2017/12/19/investing/tax-plan-jobs-trump-ceo-yale-survey/index.html)

Trump's Tax Promises Undercut by CEO Plans to Help Investors - Bloomberg (https://www.bloomberg.com/news/articles/2017-11-29/trump-s-tax-promises-undercut-by-ceo-plans-to-reward-investors)

How corporations will use their tax cut money - Washington Post (https://www.washingtonpost.com/graphics/2017/business/corporations-tax-cut-gop-tax-bill/?utm_term=.32045c0f6e36)

CEOs agree: Corporate tax cuts won't trickle down | TheHill (http://thehill.com/opinion/finance/362949-ceos-agree-corporate-tax-cuts-wont-trickle-down)


73246


https://www.talkofthevillages.com/forums/villages-florida-political-talk-88/since-conceit-part-cult-femo-fascism-heres-pop-quiz-re-tax-bill-251435/



.

[dirtbanker]

Those days have been over for sometime.

I can tell you that in order to spend the money here in the states, they will have to pay tax on it. To deposit money earned here in the states into a foriegn account, they will have to report it and pay tax on it.
There are several laws on the books to deal with reporting of foreign bank accounts;
Bank Secrecy Act.
FDIC 1010.610 and 1010.620
IRS requires an FBAR by June 30 each year.
The US has a banking agreement with almost every country in the world. The US provides software to those countries (software to root out their tax cheats) in return information of foriegn accounts held by US citizens and companies.


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Hey Don - Right back at you, read about these "real slow":

Bank Secrecy Act
FDIC 1010.610 and 1010.62
FBAR

Those apply to all bank accounts, Corp or individual. The money held by US entities has to be disclosed. Tax paid to a foriegn country will be credited toward money owed for US tax (that is providing that the income was made in a foriegn country. Income made in the US is taxed by US with no foriegn tax credit, regardless of where it is held).

There is another act that came about in 2012 (?). It forced the other countries (like Switzerland and Nevis) to disclose US held accounts. I will find it...

Thanks in advance for the reply.

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[dirtbanker]

2010...FATCA
Foreign Account Tax Compliance Act - Wikipedia (https://en.m.wikipedia.org/wiki/Foreign_Account_Tax_Compliance_Act)

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[Don Baldwin]

2010...FATCA
Foreign Account Tax Compliance Act - Wikipedia (https://en.m.wikipedia.org/wiki/Foreign_Account_Tax_Compliance_Act)

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Gee...then WHY does Apple have $285 billion squirreled away in other countries that the US CAN'T touch? Why do countless businesses and corporations have $ billions stashed away to KEEP from paying tax?

From your own link...

"The Foreign Account Tax Compliance Act (FATCA) is a 2010 United States federal law requiring all non-U.S. ('foreign') financial institutions (FFIs) to search their records for customers with indicia[clarification needed] of 'U.S.-person' status, such as a U.S. place of birth, and to report the assets and identities of such persons to the U.S. Department of the Treasury.[1] FATCA also requires such persons to self-report their non-U.S. financial assets annually to the Internal Revenue Service (IRS) on form 8938, which is in addition to the older and further redundant requirement to self-report them annually to the Financial Crimes Enforcement Network (FinCEN) on form 114 (also known as 'FBAR').[2] Like U.S. income tax law, FATCA applies to U.S. residents and also to U.S. citizens and green card holders residing in other countries.

WHERE does it say ANYTHING about a business? This is for INDIVIDUALS it is NOT for businesses who are operating overseas.

IF you WERE correct...there wouldn't BE a discussion about this...the IRS would have just fined them in an audit...wouldn't they?

[Don Baldwin]

OK Dirt...you win...I guess. A noticed "US person" in the language...and corporations ARE a US person...so I did some digging.

"Internal Revenue Code Section 7701(a)(30) defines a U.S. person as:[3]

a citizen or resident of the United States,
a domestic partnership,
a domestic corporation,
any estate (other than a foreign estate, within the meaning of paragraph (31)), and
any trust if—
a court within the United States is able to exercise primary supervision over the administration of the trust, and
one or more United States persons have the authority to control all substantial decisions of the trust.
Holders of US residence visa Green Card (until cancelled with the Internal Revenue Service) [4]"

There must be loopholes that are allowing them to get around the law. Because they OBVIOUSLY aren't effected by this law. They SHOULD be paying taxes on these profits. It must be a pretty big loophole because so many are getting away with not paying. I didn't think corporations were covered under the law...BECAUSE so many are sitting on piles of cash earned overseas.

You are correct...they should be paying...so why aren't they?

My guess...they set up foreign corporations and they make the profits.

"Apple has created subsidiaries in low-tax places such as Ireland, the Netherlands, Luxembourg and the British Virgin Islands to cut the taxes it pays around the world. According to The New York Times, in the 1980s Apple was among the first tech companies to designate overseas salespeople in high-tax countries in a manner that allowed the company to sell on behalf of low-tax subsidiaries on other continents, sidestepping income taxes. In the late 1980s Apple was a pioneer of an accounting technique known as the "Double Irish with a Dutch sandwich," which reduces taxes by routing profits through Irish subsidiaries and the Netherlands and then to the Caribbean."

[Taltarzac725]

AT&T Announces Thousands of Layoffs, Firings Just in Time for Christmas (http://www.newsweek.com/christmas-att-layoffs-midwest-bonuses-trump-758391)

Well that seems like a piece of coal.

[dirtbanker]

OK Dirt...you win...I guess. A noticed "US person" in the language...and corporations ARE a US person...so I did some digging.

"Internal Revenue Code Section 7701(a)(30) defines a U.S. person as:[3]

a citizen or resident of the United States,
a domestic partnership,
a domestic corporation,
any estate (other than a foreign estate, within the meaning of paragraph (31)), and
any trust if—
a court within the United States is able to exercise primary supervision over the administration of the trust, and
one or more United States persons have the authority to control all substantial decisions of the trust.
Holders of US residence visa Green Card (until cancelled with the Internal Revenue Service) [4]"

There must be loopholes that are allowing them to get around the law. Because they OBVIOUSLY aren't effected by this law. They SHOULD be paying taxes on these profits. It must be a pretty big loophole because so many are getting away with not paying. I didn't think corporations were covered under the law...BECAUSE so many are sitting on piles of cash earned overseas.

You are correct...they should be paying...so why aren't they?

My guess...they set up foreign corporations and they make the profits.

"Apple has created subsidiaries in low-tax places such as Ireland, the Netherlands, Luxembourg and the British Virgin Islands to cut the taxes it pays around the world. According to The New York Times, in the 1980s Apple was among the first tech companies to designate overseas salespeople in high-tax countries in a manner that allowed the company to sell on behalf of low-tax subsidiaries on other continents, sidestepping income taxes. In the late 1980s Apple was a pioneer of an accounting technique known as the "Double Irish with a Dutch sandwich," which reduces taxes by routing profits through Irish subsidiaries and the Netherlands and then to the Caribbean.""I guess"? Thanks for admitting it.

They can defer taxation, but they still have to declare yearly and they are going to be taxed on those declared yearly earnings eventually.

My company did not do business in other countries, and I have not taken the time to read up on it, so I can't say I understand the provision deferment in the tax code. I can only assume the intent was to allow the other country's taxation to take place prior to the balance being paid to the US?



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[Don Baldwin]

"I guess"? Thanks for admitting it.

They can defer taxation, but they still have to declare yearly and they are going to be taxed on those declared yearly earnings eventually.

My company did not do business in other countries, and I have not taken the time to read up on it, so I can't say I understand the provision deferment in the tax code. I can only assume the intent was to allow the other country's taxation to take place prior to the balance being paid to the US?



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"I guess" is because Apple IS doing it...they have $285 billion that hasn't been taxed.

You ARE right in what the "law" says...I had assumed that it applies to ONLY individuals...but a LOT of people are interpreting it...or APPLYING it differently.

Thanks for keeping me honest. Better to find out...then go on wrong.

We were both right. And wrong. Every entity gets taxed...but for some...it's not until it's brought back home.

[wjboyer1]

Comcast fired 500 despite claiming tax cut would create thousands of jobs | Ars Technica (https://arstechnica.com/tech-policy/2018/01/comcast-fired-500-despite-claiming-tax-cut-would-create-thousands-of-jobs/)

[cologal]

It doesn't matter if it's held offshore, it still has to be reported...

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You confused me on this one. One of the reasons to do this tax cut was because companies were holding profits offshore. With the tax cut, they should be bringing them onshore for taxation.

COPUFF

[dirtbanker]

You confused me on this one. One of the reasons to do this tax cut was because companies were holding profits offshore. With the tax cut, they should be bringing them onshore for taxation.

COPUFF

I am fairly certain it was explained;

The current tax code allows them to defer taxation. The current tax code requires them to report the accounts and holdings yearly.




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[dirtbanker]

If the New tax code results in less tax on those defered holdings, they would be wise to bring the holdings back here, as the US dollar is more stable than foriegn currency?

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[8notes]

If the New tax code results in less tax on those defered holdings, they would be wise to bring the holdings back here, as the US dollar is more stable than foriegn currency?

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Given the chaos in the white house, I think it is erroneous to assume the US dollar is more stable than foreign currencies.I've read that the Canadian dollar, Australian and New Zealand dollars are more stable than the US dollar for example. Of course it would depend on which countries the deferred holdings are located in.

[Don Baldwin]

If the New tax code results in less tax on those defered holdings, they would be wise to bring the holdings back here, as the US dollar is more stable than foriegn currency?

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Why? Why get taxed at all? Apple has $180 billion overseas it's bought US treasuries with. It's already helping the government. Besides, the costs and profits were all born overseas...so why should the US get a big cut anyway?

More stable today...what about tomorrow?

https://qph.ec.quoracdn.net/main-qimg-3674850bf9fc526fcf54fc98ad77cac3-c

Given the chaos in the white house, I think it is erroneous to assume the US dollar is more stable than foreign currencies.I've read that the Canadian dollar, Australian and New Zealand dollars are more stable than the US dollar for example. Of course it would depend on which countries the deferred holdings are located in.

Apple bought a LOT of US treasuries with that money. Safe for now.

[Kenswing]

U.S. Employers added 148,000 jobs in December.. Unemployment rate at 4.1%..

Anyone getting laid off right now is having no problem finding another job.

[Allegiance]

U.S. Employers added 148,000 jobs in December.. Unemployment rate at 4.1%..

Anyone getting laid off right now is having no problem finding another job.Could be the best economic boom ever.

[wjboyer1]

U.S. Employers added 148,000 jobs in December.. Unemployment rate at 4.1%..

Anyone getting laid off right now is having no problem finding another job.

tell that to the coal miners

[Kenswing]

tell that to the coal miners

Wow.. A reply without a picture..

Industries come and go with the times. If you can't adapt you get left behind. Employers are complaining of not having enough qualified workers to fill positions.

You can always cherry pick stats to fit your agenda. But by and large, right now if you want a job you have a job.

[AJ32162]

tell that to the coal miners

Since when did Liberals develop a concern for unemployed coal miners? Obama and Hillary haven't.

[dirtbanker]

Since when did Liberals develop a concern for unemployed coal miners?

When it is something to whine about Trump...

"The Boy" is a true and true union liberal, he just looks for reasons the job cant get done...

[wjboyer1]

Wow.. A reply without a picture..

Industries come and go with the times. If you can't adapt you get left behind. Employers are complaining of not having enough qualified workers to fill positions.

You can always cherry pick stats to fit your agenda. But by and large, right now if you want a job you have a job.

Just using the TRUMP promise to its logical conclusion.....
There are many employers who will NOT expand their payrolls, nor increase their employee numbers, but rather increase the dividends to their stockholders. The "trickle-down" economic theory has been shown NOT to work, yet people like you seem to think otherwise.

If you were employed as a factory worker (ie: Carrier in Indiana) and were PROMISED employment, and the state of Indiana actually approved $millions of tax dollars in incentives to keep those jobs.....and they LEFT.....there are many other examples, but if you want to pick fruit, vegetables, flip burgers, cut lawns, etc....you can probably find a "job".... according to YOUR cherry-picked statistics

[Kenswing]

Just using the TRUMP promise to its logical conclusion.....
There are many employers who will NOT expand their payrolls, nor increase their employee numbers, but rather increase the dividends to their stockholders. The "trickle-down" economic theory has been shown NOT to work, yet people like you seem to think otherwise.

If you were employed as a factory worker (ie: Carrier in Indiana) and were PROMISED employment, and the state of Indiana actually approved $millions of tax dollars in incentives to keep those jobs.....and they LEFT.....there are many other examples, but if you want to pick fruit, vegetables, flip burgers, cut lawns, etc....you can probably find a "job".... according to YOUR cherry-picked statistics
I guess you'll just ignore all the companies that are announcing employee bonuses due to the tax break?

I'm a business owner and a stockholder of many companies. A balance of employee bonuses and shareholder dividends is a good thing.

With the added money on hand look at all the companies that are increasing capital expenditures. That in itself increases employment.

All you want to do is bash Trump. I could care less about Trump. I care about my business and the economy which both are doing quite well at the moment.

[wjboyer1]

I guess you'll just ignore all the companies that are announcing employee bonuses due to the tax break?

I'm a business owner and a stockholder of many companies. A balance of employee bonuses and shareholder dividends is a good thing.

With the added money on hand look at all the companies that are increasing capital expenditures. That in itself increases employment.

All you want to do is bash Trump. I could care less about Trump. I care about my business and the economy which both are doing quite well at the moment.

Watch CEOs admit they won’t actually invest more if tax reform passes - Vox (https://www.vox.com/policy-and-politics/2017/11/15/16653698/ceos-investment-tax-reform)

Why Trickle Down Economic Works in Theory But Not in Fact

Trickle Down Economics: Theory, Effect, Does It Work (https://www.thebalance.com/trickle-down-economics-theory-effect-does-it-work-3305572)

[Kenswing]

Watch CEOs admit they won’t actually invest more if tax reform passes - Vox (https://www.vox.com/policy-and-politics/2017/11/15/16653698/ceos-investment-tax-reform)

Why Trickle Down Economic Works in Theory But Not in Fact

Trickle Down Economics: Theory, Effect, Does It Work (https://www.thebalance.com/trickle-down-economics-theory-effect-does-it-work-3305572)
Time will tell. Until then I will just watch my retirement fund grow while you sit there and whine.

[wjboyer1]

Time will tell. Until then I will just watch my retirement fund grow while you sit there and whine.

hope you have diversified.....last Republican President had a huge stock market crash.....but the DOW is a speculative index. The companies depend upon SALES, and if there is little increase in income, there will be little, if no, increase in sales.....

The best economic engine is increased family disposable income, not the stock market

[Kenswing]

hope you have diversified.....last Republican President had a huge stock market crash.....but the DOW is a speculative index. The companies depend upon SALES, and if there is little increase in income, there will be little, if no, increase in sales.....

The best economic engine is increased family disposable income, not the stock market
Diversification is the name of the game. The only money I'm actively putting in the market right now is dividends on stocks already owned. I am still putting some money into funds but a majority is going into tax free muni's.

I understand how fast this market has risen and how fast it can fall. I keep pushing stops up as the stocks rise. If a crash comes the stops will protect me.

[wjboyer1]

Diversification is the name of the game. The only money I'm actively putting in the market right now is dividends on stocks already owned. I am still putting some money into funds but a majority is going into tax free muni's.

I understand how fast this market has risen and how fast it can fall. I keep pushing stops up as the stocks rise. If a crash comes the stops will protect me.

Again, the best economic engine is increased wages...that is the best protection from a crash. That enables an economy to limit the effects of downturns by not having severe situations which have been seen. Having an administration and congress depend upon economic growth without encouraging wage increases, increasing the deficit, and reducing taxation of those who can afford taxes, and increasing taxation of those who have lived with wage stagnation for the past decade is, in my opinion, a recipe for another significant economic crash.

[Kenswing]

Again, the best economic engine is increased wages...that is the best protection from a crash. That enables an economy to limit the effects of downturns by not having severe situations which have been seen. Having an administration and congress depend upon economic growth without encouraging wage increases, increasing the deficit, and reducing taxation of those who can afford taxes, and increasing taxation of those who have lived with wage stagnation for the past decade is, in my opinion, a recipe for another significant economic crash.
With unemployment at 4.1% and predicted to fall farther wages almost have to rise. The competition for labor will become too great for wages to remain stagnant.

[wjboyer1]

With unemployment at 4.1% and predicted to fall farther wages almost have to rise. The competition for labor will become too great for wages to remain stagnant.

We will see.....historically it is not optimistic.

[dirtbanker]

Just using the TRUMP promise to its logical conclusion.....
There are many employers who will NOT expand their payrolls, nor increase their employee numbers, but rather increase the dividends to their stockholders. The "trickle-down" economic theory has been shown NOT to work, yet people like you seem to think otherwise.

If you were employed as a factory worker (ie: Carrier in Indiana) and were PROMISED employment, and the state of Indiana actually approved $millions of tax dollars in incentives to keep those jobs.....and they LEFT.....there are many other examples, but if you want to pick fruit, vegetables, flip burgers, cut lawns, etc....you can probably find a "job".... according to YOUR cherry-picked statistics

My first instinct is to suggest you should stick to posting pictures with phrases somebody else thought up, but lets explore your claim.

Lets clear up something in your first paragraph;in your opinion how many is many? Is it close to 15% or is it closer to 75%? Your definition of "many" would certainly change the value of your statement.

If I was an employee at a factory, who is promising me employment and why? Is it contingent on anything like say market share, profitability, productivity, or any of numerous things that could change the feasibility of the factory being in business? Is the promise for 1 year, 10 years, 20 years, forever?

Please define the tax incentives given to the factory. I am anxious to see how the tax incentive (which would be applied to the prior year's tax filing) would effect the grantor if the factory closed.

[dirtbanker]

We will see.....historically it is not optimistic.
Life has never been optimistic to you liberals, but that never bothered those collecting entitlements. They love your party's "can't be done" attitude, it has provided well for the lazy POS bust out losers of this country.

[Don Baldwin]

Wow.. A reply without a picture..

Industries come and go with the times. If you can't adapt you get left behind. Employers are complaining of not having enough qualified workers to fill positions.

You can always cherry pick stats to fit your agenda. But by and large, right now if you want a job you have a job.

BECAUSE the population is only 25% white men. Minorities are 51% and white women another 25%. There aren't enough white men to go around.

[wjboyer1]

Companies that announced big bonuses after GOP tax cut are now laying off their workers – ThinkProgress (https://thinkprogress.org/companies-gop-tax-bonuses-layoffs-fdf07fdf90d2/)

[Allegiance]

The prermise of this thread is total BS

[dirtbanker]

My first instinct is to suggest you should stick to posting pictures with phrases somebody else thought up, but lets explore your claim.

Lets clear up something in your first paragraph;in your opinion how many is many? Is it close to 15% or is it closer to 75%? Your definition of "many" would certainly change the value of your statement.

If I was an employee at a factory, who is promising me employment and why? Is it contingent on anything like say market share, profitability, productivity, or any of numerous things that could change the feasibility of the factory being in business? Is the promise for 1 year, 10 years, 20 years, forever?

Please define the tax incentives given to the factory. I am anxious to see how the tax incentive (which would be applied to the prior year's tax filing) would effect the grantor if the factory closed.Yep the premise of this thread is BS.

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