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| Re: ''Don't let anybody tell you that businesses creat jobs'' (1236258) | |
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| (1236940) | |
Re: ''Don't let anybody tell you that businesses creat jobs'' |
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Posted by Dave on Tue Oct 28 07:45:17 2014, in response to Re: ''Don't let anybody tell you that businesses creat jobs'', posted by RIPTA42HopeTunnel on Mon Oct 27 22:55:44 2014. Good choice but that's not one of the weapon systems Salaam advocates cutting:Military branches wrestle with cost-effectiveness of NASCAR sponsorships |
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| (1236942) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by AlM on Tue Oct 28 08:30:51 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by subfan on Mon Oct 27 21:07:51 2014. If, however, it is a payment on business or investment income, there is a risk the IRS will treat the payment as a "voluntary" tax payment, and only allow the credit when the tax year is over and the amount finalized.Yet I can make totally voluntary payments on my 2013 state estimated income tax and deduct them from my 2013 federal taxable income, no questions asked. So the law is different for foreign tax payments than for state tax payments? |
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| (1237022) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by subfan on Tue Oct 28 14:56:13 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by AlM on Tue Oct 28 08:30:51 2014. The rule is that a credit is not available for voluntary Tax payments. The thinking behind this is that otherwise, a US person would have no motivation to minimize the tax paid to a foreign government, as he'd get a dollar-for-dollar credit for this payment against his US tax liability. This same reasoning would not apply to state tax payments, where the taxpayer receives only a deduction, and not a credit, for the tax paid.As I said earlier, it's not certain that the payment will be treated as voluntary and the credit will not be allowed - but there is a significant risk that the IRS will challenge the use of the credit in the year in question. subfan |
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| (1237046) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by AlM on Tue Oct 28 16:42:26 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by subfan on Tue Oct 28 14:56:13 2014. OK, yes, it makes sense that a credit and a deduction would be treated differently. |
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| (1237068) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by SMAZ on Tue Oct 28 18:09:46 2014, in response to More Americans renouncing citizenship because of greedy government, posted by Olog-hai on Sun Oct 26 00:49:33 2014. The rule dates to the Civil WarGreat job calling President Lincoln greedy. It figures. |
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| (1237070) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by SMAZ on Tue Oct 28 18:12:21 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by Olog-hai on Sun Oct 26 12:36:54 2014. what does the corporate tax rate have to do with individuals relinquishing their citizenship? |
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| (1237084) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by Spider-Pig on Tue Oct 28 18:43:20 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by SMAZ on Tue Oct 28 18:12:21 2014. PWN3D! I didn't even notice that. |
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| (1237093) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by AlM on Tue Oct 28 19:17:13 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by Spider-Pig on Tue Oct 28 18:43:20 2014. It's a pretty standard conservative ploy nowadays. The US has the highest corporate tax rate in the word - how horrible!But God forbid you should suggest a rise in the personal income tax rate. That would make us like those socialist Europeans. |
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| (1237094) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by SelkirkTMO on Tue Oct 28 19:26:21 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by Spider-Pig on Tue Oct 28 18:43:20 2014. Don't feel bad ... threads go careening over the cliff, down the side, and burst into flames regularly just like those old black and white movie car chases. Nothing to see here, please return to your homes. :) |
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| (1237097) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by bingbong on Tue Oct 28 19:36:36 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by AlM on Tue Oct 28 19:17:13 2014. We don't have a VAT. That tax is heinous, especially on those with lower incomes. |
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| (1237099) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by SelkirkTMO on Tue Oct 28 19:39:50 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by bingbong on Tue Oct 28 19:36:36 2014. But the difference between Europeans and Americans is that Europeans learned in school how to repair their own stuff, take raw materials and build their own, and other ways to avoid getting "Vat'ed" over and over again. If they ever did VAT here, things would easily cost 6 or more times what they do now, all in taxes. |
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| (1237149) | |
Re: ''Don't let anybody tell you that businesses creat jobs'' |
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Posted by Train Dude on Tue Oct 28 23:41:43 2014, in response to "Don't let anybody tell you that businesses creat jobs", posted by Dave on Sat Oct 25 08:43:42 2014. So Hilly back peddles her remarks and says that she mis-spoke when she said that business does not create jobs. She now says business does create jobs. So which is it? Does she really believe that business does not create jobs or does she really believe that business does really create jobs? I can just hear Hillary next year explaining this issue. |
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Re: More Americans renouncing citizenship because of greedy government |
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Posted by AlM on Wed Oct 29 01:28:15 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by SelkirkTMO on Tue Oct 28 19:39:50 2014. VAT only taxes the added value. If I run a bodega and buy soda from a distributor at 50 cents a bottle and sell it for a dollar, I only pay VAT on the 50 cents added. So the total VAT paid on the end product is only the VAT percentage times 1.0. |
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| (1237164) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by SelkirkTMO on Wed Oct 29 01:30:03 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by AlM on Wed Oct 29 01:28:15 2014. Yep ... but ... the VAT is placed on each and every transfer. You should see how it multiplies with software sales. We've had to collect VAT since the 90's. The paperwork and documentation is gruesome. :( |
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| (1237165) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by AlM on Wed Oct 29 01:38:04 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by SelkirkTMO on Wed Oct 29 01:30:03 2014. Yes, I've never understood how the paperwork gets handled. The US system where the last seller collects all the tax seems so much simpler. I realize there are some abuses where people give a resale number and then don't resell, but I don't think they're major. |
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| (1237166) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by SelkirkTMO on Wed Oct 29 01:59:54 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by AlM on Wed Oct 29 01:38:04 2014. Wouldn't know. It got SO out of hand with each duchy having different rules, we have a company in Ireland that handles all that. And they do it for most other US corporations who can then KEEP the money in Ireland, so none of it comes back here. Europe's gain, America's loss, so the little guy pays taxes on it instead. At least WE repatriate the money and pay those taxes. |
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| (1237167) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Olog-hai on Wed Oct 29 02:10:26 2014, in response to Re: ''Don't let anybody tell you that businesses creat jobs'', posted by Train Dude on Tue Oct 28 23:41:43 2014. More backlash for being caught pandering to the Marxist base. Like this gaffe. |
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| (1237168) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Nilet on Wed Oct 29 02:13:14 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Dave on Mon Oct 27 07:09:33 2014. The DC Metro looks plenty existent to me, as do systems up and down the country.If private enterprise could really run passenger trains, you wouldn't have to quibble over the details of systems that aren't actually running. |
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| (1237169) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by Nilet on Wed Oct 29 02:13:16 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Charles G on Mon Oct 27 07:56:28 2014. Where else would they have come up with the money?Leasing public land. (Alaska is fond of this one.) Fines and civil forfeitures. (Banks get away with everything, but they usually have to pay a token penalty.) Money from dead people. (It's not a "tax" if they literally take it over your dead body.) Investment of public funds. (If we'd "invested" in banks rather than just bailing them out, we'd reap a windfall now that they've recovered.) |
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| (1237176) | |
Re: ''Don't let anybody tell you that businesses create jobs'' |
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Posted by SelkirkTMO on Wed Oct 29 02:23:05 2014, in response to Re: ''Don't let anybody tell you that businesses create jobs'', posted by Nilet on Wed Oct 29 02:13:16 2014. I *loved* that one ... and Obama actually tried to do that with several banks, GM and a raft of others that would have handsomely rewarded the taxpayers for the bailout. But the usual conservatards called it communism and DEMANDED that we get out of it before the taxpayer could benefit from the helping hand. :(So now THEIR taxes will have to go up too. |
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| (1237186) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by SMAZ on Wed Oct 29 05:33:15 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by SelkirkTMO on Wed Oct 29 01:59:54 2014. You can deduct the VAT when the goods or service exits certain European countries |
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| (1237215) | |
Re: More Americans renouncing citizenship because of greedy government |
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Posted by AlM on Wed Oct 29 10:37:23 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by SMAZ on Wed Oct 29 05:33:15 2014. You can also get a refund of the VAT on purchases made in Canada that leave the country, but I once tried and ended up in a circular set of rules that caused me to give up. |
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Re: More Americans renouncing citizenship because of greedy government |
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Posted by SelkirkTMO on Wed Oct 29 12:30:00 2014, in response to Re: More Americans renouncing citizenship because of greedy government, posted by SMAZ on Wed Oct 29 05:33:15 2014. We're a supplier, so whatever happens to the VAT the customers pay is their issue. Sorry if I didn't make that more clear. |
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