1
0

Atlas Shrugging?


 invite response                
2014 Oct 27, 2:20am   7,288 views  15 comments

by Entitlemented   ➕follow (0)   💰tip   ignore  

http://finance.yahoo.com/news/obama-corporate-crackdown-working-companies-094500841.html

When the Obama administration announced new rules last month aimed at making so-called corporate inversions less profitable, it was far from clear just how successful they would be at discouraging use of the tactic, in which a U.S. company purchases another firm in a low-tax country and transfers its headquarters there in order to benefit from lower taxes.

#politics

Comments 1 - 15 of 15        Search these comments

1   EBGuy   2014 Oct 27, 4:08am  

You guys should like this. Last Week Tonight with John Oliver: Ayn Rand - How Is This Still A Thing? (HBO)
http://youtu.be/_8m8cQI4DgM

2   Zak   2014 Oct 27, 5:00am  

>Should an American corporation decide to do this because they were unable to profitably offshore their headquarters, a domestic company would instantly move into that market space and provide the same product.

You don't get it do you. They won't stop selling to the American market, they will just offshore their jobs, profits, and taxes. The "smart" ones have been doing it for decades now. This isn't something that "might happen". It's been going on for 35 years. This article is ridiculous only in that they fail to recognize that this has been the case since Reagan.

Obama is going to "stop it" as likely as I am going to win the lottery. There are too many smart people with too many loopholes to ever be able to reign this in. The only way to stop the offshoring is bring back import tariffs, and get rid of the high tax burdens on the middle class so they can afford to work at reasonable salaries again.

4   tatupu70   2014 Oct 27, 6:05am  

Zak says

and get rid of the high tax burdens on the middle class so they can afford to work at reasonable salaries again.

Or design a system where labor is valued as much or more than capital...

5   Zak   2014 Oct 27, 6:42am  

>until your assclown demigod Ronald Reagan

my assclown? nope sorry. And you're right I haven't read Atlas shrugged, just the synopsis of "quitting society" because of the tax burdens. Seems like a waste to read, when it is obvious they won't quit the profits, only the responsibilities. The premise behind atlas shrugged was that they had to (over)pay to play (correct me if I'm wrong). The main mistake was that the alternative of "don't pay but still play by offshoring" was never discussed, since the market remains open to that avenue . If you correct that and don't let them play without paying, then atlas shrugged may have a valid premise.

6   Peter P   2014 Oct 27, 7:03am  

sbh says

Why should we let people vote?

Hey, corporations are people too! LOL.

7   EBGuy   2014 Oct 27, 7:29am  

Peter P said: Hey, corporations are people too! LOL.
FWIW, in my town we'll be voting on this advisory measure.
Should the United States Constitution be amended to abolish the legal concept that corporations are persons that are entitled to constitutional rights, and the doctrine that the expenditure of money may be treated as speech?
I'm betting we see a Constitutional amendment in my lifetime. My 70+ year old MIL on the east coast was talking to me about corporate personhood this past summer, so I'd say the meme is going nationwide.

8   Peter P   2014 Oct 27, 7:43am  

EBGuy says

I'm betting we see a Constitutional amendment in my lifetime.

Doubtful. People are more partisan than ever.

9   Shaman   2014 Oct 27, 11:36am  

Well I did read that horribly long book and I still agree with Zak. Import tariffs and lower middle class taxes are definitely the way to reenergize our economy.

10   indigenous   2014 Oct 27, 12:06pm  

You would think that the wogster would get tired of getting beat in this debate?

11   Vicente   2014 Oct 27, 12:44pm  

It's not really Randism, unless there's some raping going on.

12   mell   2014 Oct 27, 2:33pm  

You guys have a strange fascination for her, which sort of proves her points. You like her because although often cited by nowadays Republicans she had many views very much to the contrary of mainstream conservatives (e.g. abortion, religion).
And you hate her because she is holding up a mirror in front of you when freely talking about and admitting to human selfishness.

13   FortWayne   2014 Oct 27, 2:44pm  

Tax dodging corporations are unpatriotic.

14   Vicente   2014 Oct 27, 3:57pm  

mell says

you hate her because she is holding up a mirror in front of you when freely talking about and admitting to human selfishness.

What kind of mirror was she holding up? Apparently one that showed her men like William Hickman:

http://michaelprescott.freeservers.com/romancing-the-stone-cold.html

15   mell   2014 Oct 28, 12:46am  

FortWayne says

Tax dodging corporations are unpatriotic.

Sure it is, but so is taking money for yourself that isn't there while indebting future generations, so is mortgage deduction, "strategically" defaulting, FHA, advocating the bailouts, QE. This division between the corporation and the people is artificial, they learn from each other.

Please register to comment:

api   best comments   contact   latest images   memes   one year ago   random   suggestions