Just Answer this Question!

@missybal (4492)
United States
October 25, 2008 6:50pm CST
What incentive would a company have to stay in the United States and employ American Citizens under Obama's tax plan? If companies are required to pay even higher taxes then the already second highest in the world, and may even already have branches overseas... why would they pay more taxes and stay in America? Can no one answer this question directly. How is Obama planning on keeping them here to pay for his plans to give checks to those who do not pay taxes now? Is he planning to tie them to a chair so to speak? Answer this question only. I'm only talking about Obama's tax plan. And don't try to tell me that a few of these companies that use loop holes to get out of taxes justifies taking more money from the 5% of American tax payers who already support our whole country including all the wasteful spending in congress. So far no one has any answer that can hold water. We already saw how the stimulation checks didn't help so how is a couple hundred dollars more in the hands of people who don't pay taxes and don't grow businesses going to help create jobs?
1 person likes this
5 responses
@ClarusVisum (2163)
• United States
26 Oct 08
There are loopholes everywhere. NO big business pays the full tax rate, so the "second highest in the world" claim is utter nonsense. Also, no income tax is not the same as no taxes. Everyone with a legitimate job pays taxes on every dollar they earn. Stop peddling this long-debunked nonsense. We already tried trickle-down, supply-side economics, giving the biggest tax breaks to the wealthiest over the past administration. It FAILED. Okay? There's no spinning that. Small businesses are the major job creators, and 98% of them don't make too much to get a tax cut from Obama's plan, and on top of that, Obama's plan gives them (small businesses) a FIFTY PERCENT tax credit to provide health care to their employees. Half off! That is nothing to sneeze at, given the average policy costs $12k a year. And for those that do make over $250k a year, the upper tax bracket only applies to the amount exceeding $250k, so if you make $260k, you're actually only paying higher taxes on $10k. Why is this such a bad deal again?
1 person likes this
@missybal (4492)
• United States
26 Oct 08
I just love how Obama spins it. Change is what you get with Obama on a daily basis. Well then where is the money coming from now to support the country? He's pretty much wiped out all taxes now. Now he's for everyone and everyone will have more money. It's not adding up worse than ever in Obama's plans. Where is he getting the money if what you say is true? If all goes as you stated then you expect the big companies who as you say never paid full tax rates to suddenly be paying big time to stay in this country? Do you have any understanding of what you are saying? Come one people! This is insanity really. America's success is because of it's businesses and the ability of any American to work hard and reap the rewards. Your idea of a failed system is the envy of the world. Tell me what country has it right? What country should me model our economic plan on that is doing better than us?
• United States
26 Oct 08
"Well then where is the money coming from now to support the country? He's pretty much wiped out all taxes now." Wow, lol. Damned if he does, damned if he doesn't. McCain whines that Obama's raising taxes on ANYONE, even the top 1% who got disproportionate tax breaks under Bush, and now here you are, criticizing him for 'wiping out all taxes'. Give me a break. "If all goes as you stated then you expect the big companies who as you say never paid full tax rates to suddenly be paying big time to stay in this country?" I quote: "Even with thousands of pages of tax laws, two-thirds of all large U.S.- and foreign-controlled business operating in the U.S. managed to pay no (zero) federal income tax on a combined $2.5 trillion in sales from 1998 to 2005, according to a new report (.pdf) from the Government Accountability Office (GAO)." -- http://usgovinfo.about.com/b/2008/08/13/big-business-pays-no-taxes-gao-finds.htm Got that? Two and a half TRILLION dollars, and not a cent of tax paid on any of it. As you can see, most of those big businesses aren't contributing AT ALL to anything but their own bottom lines, so (also because of the huge undeserved tax cuts they got under Bush) I have a really hard time feeling sorry for them. We should focus on small business--that is where our new plan for establishing dominance in the alternative energy market is going to materialize. That's where new middle-class jobs are primarily created.
@missybal (4492)
• United States
26 Oct 08
Okay based on that, obama's plans on all levels to provide for government agencies to get tax money to support this country are small businesses that have not even been started yet? Sorry but their are not enough of the 'in between' businesses that would pay enough to pay for this country's annual budget with or without a war. If that was the case than everyone should cut back their businesses and make sure you make under $250,000 so you don't ever have to pay taxes, why strive to make more than that when you will be able to get away with not paying any taxes? Better start cutting government tax supported agencies because there will be no money for them. Cut the military and security for the U.S. there will be no money to support them. It's obvious that Obama knows nothing about business. Talk about radical change. Well you won't find any country with that plan... why because it wouldn't work. It wouldn't be long before it would need to be reformed again. Everything you have said leads me to believe with Obama's tax plan large companies will move out of the country to avoid taxes. Smaller businesses will downsize or sell off portions to get under the high tax bracket or at least to a point that they can afford to operate. We will end up with higher unemployment rates and how can people start a business without money, that would only work if they have it in savings now before this plan of Obama's is put in play. Also very little tax money to pay for security of this country or anything else for that matter. Is the government then going to print more money to give it to those who think they got what it takes to start their own business and then who will have the money to pay for their product or services? None of what Obama (or you) say makes any sense when it has to do with creating jobs.
@ZephyrSun (7382)
• United States
26 Oct 08
You do realize that 2/3 of American corporations do not pay federal taxes right? And most small business can avoid being taxed that extra 3% above their $250,000 if they spent about $1,000 and formed an Llc. Just because we have the highest tax rate doesn't mean that is what companies actually pay. Pull the financial records of major corporations and look at their out of pocket on taxes.
@relundad (2311)
• United States
26 Oct 08
Hi Zephyr! You don't really expect that based on this question that the poster is doing anything more than repeating some garbage that they have heard on the internet and have no real facts or research to support the claim, do you?
1 person likes this
@ZephyrSun (7382)
• United States
26 Oct 08
lol I figured it was from Rush or Hannity.
@missybal (4492)
• United States
26 Oct 08
Due to tax credits that cancel out the 35% in taxes that they do pay, which is what happens when you add tax credits and loop holes some logical and some not so... Much of the tax credits like what Obama now says he would provide to small businesses and companies who hire more employees and possibly agreeing not to outsource jobs. Why would companies pay if they can go else where and make more money? I'm well aware of how this works but you must see that under Obama's plan is these big companies to pay more taxes than they have before, we can argue all day on which companies pay already and which don't what tax credits make sense and what don't, but the fact remains that 5% of taxpayers support the country and Obama's plan is to increase that amount on that 5% to provide for those who don't pay at all. Under Obama these companies will leave and it does affect everyone. Tons of jobs will be lost. Now if we could do what Obama says wouldn't it be nice but numbers don't add up. He keeps expanding his plan to get this vote and that vote. Now the shift is completely onto those who have the power to pack up and leave.
@kenzie45230 (3560)
• United States
26 Oct 08
There will be no incentives to stay, missyball. And there will be no incentives for Joe Average to start a small company that might end up being successful. Obama doesn't want successful people. He wants people to depend on the government for everything.
@missybal (4492)
• United States
26 Oct 08
It's so good to see someone with the experience to talk about this issue. Really I don't think that these people have any idea how Obama's plan will really affect companies. You really can't blame them. If you had asked me say 4 years ago I probably would have voted Obama because at that time I did not know then what I know now. Working with my father's brokerage and talking to all walks of life with companies large and small made me understand a lot better how the economy works and how companies react to the markets and to what's happening in Washington.
@spalladino (17922)
• United States
26 Oct 08
I told you already that businesses that move their operations overseas would lose tax breaks which, in the end, would cost them more. I saw this list of the top 1,000 companies according to the Fortune 500 and 99% of them had profits of well over 1 million in 2007. Here's the link if you'd like to look at it: http://money.cnn.com/magazines/fortune/fortune500/2007/full_list/index.html I honestly don't see thousands of companies going to the trouble and expense of moving overseas in order to avoid a tax increase. By the way, my husband and I, along with millions of other Americans do indeed pay taxes. As far as those stimulus checks, they did help to hold off the situation we find ourselves in now and more help for the middle class will help more.
@oneidmnster (1387)
• United States
26 Oct 08
If anything,his plan is going to drive people out of business and cause more unemployment.Of course,at first,they can hire illegals to help keep them afloat.Then when he gives amnesty to the illegals,they'll be making more money and the businesses will still go under.Then our tax money can go to pay for all the new American citizens that will be on welfare. It's amazing that people can't see how stupid he really is.