AT&T Lays Off 1400 After Trump Tax Breaks
 

Will companies spend tax savings to create jobs? - Dec. 19, 2017

Trump's Tax Promises Undercut by CEO Plans to Help Investors - Bloomberg

How corporations will use their tax cut money - Washington Post

CEOs agree: Corporate tax cuts won't trickle down | TheHill


Attachment 73246

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


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with fewer employees

Cry boy cry.

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


Lol

Cry boy cry

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

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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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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You forgot to explain the benefit of sitting on the money...

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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.

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

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:

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:

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

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

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

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.

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.

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

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

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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.

You're talking about an INDIVIDUAL.

"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.

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

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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.

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.

Income from Abroad is Taxable | Internal Revenue Service

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Read this REAL f@cking slow...

YOU are talking about INDIVIDUALS and NOT corporations.

https://www.talkofthevillages.com/fo...x-bill-251435/

.

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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2010...FATCA
Foreign Account Tax Compliance Act - Wikipedia

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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?

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."

Well that seems like a piece of coal.

"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.

Comcast fired 500 despite claiming tax cut would create thousands of jobs
 

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