You have got to be kidding? Republicans - Do not care about American jobs Posted: Dec 22nd, 2017 - 8:40 am In Reply to: End to offshoring incentives - Anon
Just PROFIT. Thus, the tax plan WILL NOT bring back service industry jobs. I predict this will make US wages worse to compensate for foreign locations. Hope everybody invests their $1500-$2000 wisely.
While this kind of tax sheltering, to date, has been the gambit of large corporations, I'm already seeing a lot of business owners, including wealthy pass-through businesses, asking about setting up businesses offshore to take advantage of a lower tax rate.
Going forward, gimmicks in the tax bill will give new incentives to move jobs offshore. One provision aimed at closing the offshore loopholes was recently gutted and other provisions leave several loopholes in place for favored special interests.
Currently, U.S. companies and individuals owe taxes on earnings wherever they are made — in Des Moines or Dublin. The new bill changes that longstanding parity so companies will only owe taxes on profits they book in the U.S. or, in extraordinary circumstances, pay a lower tax on profits of offshore subsidiaries. It is safe to say many offshore profits will go untaxed.
https://www.google.com/url?sa=t&source=web&rct=j&url=http://www.chicagotribune.com/business/ct-biz-america-first-offshoring-jobs-tax-plan-20171215-story,amp.html&ved=0ahUKEwjFpZnI5p3YAhXszIMKHf58C8gQFggpMAM&usg=AOvVaw3VrHzOFzRUm3nprUbbUMLm&cf=1
https://www.google.com/amp/s/amp.cnn.com/cnn/2017/12/14/opinions/gop-tax-plan-territorial-small-business-zimmerman-opinion/index.html
LINK/URL: You have got to be kidding? Republicans
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- End to offshoring incentives - Anon (Views: 1127, 2017-12-21, 1:55 pm)
- You have got to be kidding? Republicans - Do not care about American jobs
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