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Comments about ‘10 things to know about corporate inversions’

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Published: Thursday, Aug. 28 2014 9:54 p.m. MDT

Updated: Thursday, Aug. 28 2014 9:54 p.m. MDT

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Mark l
SALT LAKE CITY, UT

The IRS and tax laws are a complete waste of resources! Private companies would much rather not have to pay accounting departments to manage their taxes, but they have to or the IRS will come confiscate its fees at the point of a gun.

Private business doesn't even pay taxes anyway, they never have and they never will. Only people pay taxes. Any tax is a cost of doing business that must be recovered from its customers.

Dr. Thom
Long Beach, CA

You haven't raised any new money,all you've done is literally out of thin air, you've created a debt obligation." Sounds a lot like Fiat Currency where the Fed just prints money to cover their obligation but doesn't back up the "new money" with hard assets such as gold or silver.

What government doesn't understand is that corporations are based on the principles of improvise, overcome and adapt. Where as government is fixed, corporations are fluid and adjust to changes in the economy, taxes and employment which is why so many universities now hire a large percentage of instructors as contracted adjuncts. Not a real FT employee so you don't have to pay benefits such as medial or retirement.

Happy Valley Heretic
Orem, UT

Corporations will destroy America, and the republicans will gladly give it away for a donation to their campaign.

O'well Can't say I've visited them in years and will continue to shop local whenever possible.

Kevin J. Kirkham
Salt Lake City, UT

I hear those on the left complain that BK won't be paying for American infrastructure via taxes which allowed them to earn those profits in the first place. That claim is designed for the "low information voter" because they'll still be paying their taxes on American profits. The libs claim about BK isn't being loyal Americans or patriotic. Loyalty/patriotism is a 2-way street. The government isn't being loyal the BK by wanting to tax money not earned in the US. It's abuse. BK is like an abused wife who discovers that other men (countries) don't abuse their spouses (local corporations) like BK's does. She is just packing her bags and leaving the abusive relationship as much as possible. Don't blame the victim. Blame the abuser in the White House.

American citizens are giving up their citizenship in droves because the IRS requires US citizens to pay US taxes on the wages they earn overseas as legal residents and even make their non US spouses pay US taxes. Foreign banks don't even want to deal with US citizens due to the paperwork hassles. Again, don't blame the victim.

Shaun
Sandy, UT

@jsf. So how much will Burger King reduce the cost of a hamburger since they will certainly pass on the savings to their customers once they invert and start saving money?

Shimlau
SAINT GEORGE, UT

One thing all of you posters need to realize, is that the only person who pays taxes is the final consumer. the person who eats that burger is the one who pays the tax. the person who burns that gasoline is the one who pays the tax. Everyone else just passes it on. Now all of you who are saying supply side economics doesn't work; what is your option? would it be socialism, communism? I don't see droves of people trying to get into Cuba, or China, or even Russia right now. So, tell me what your fully integrated financial system would look like, how would you keep the producers producing if they can't keep what they produce, or can't turn a profit. Socialism may work, in a beehive or ant hill!

Midwest Mom
Soldiers Grove, WI

Wow. Lower corporate taxes and national health care. What are we waiting for?

lost in DC
West Jordan, UT

HVH
most of those local shops you visit are also corporations - sorry to burst your bubble

Midwest Mom,
unfortunately the personal tax rates are higher and the health care choices are fewer. I see despite the close proximity, you remain in WI and have not emmigrated to Canada. yeah, what ARE you waiting for? no, please do not interpret that to imply I want you to leave.

Say No to BO
Mapleton, UT

You may recall the young man who asked GOP presidential candidates, "How much of my money do you think I should be allowed to keep?"
That is the crux here.
Has a corrupt government and its collection agency, the IRS, overstepped its bounds? Is government too big, too expensive and too ineffective (see VA and immigration enforcement for examples) to have value to the average taxpayer? As we gas up this holiday and pay high motor fuel taxes to ride on bumpy roads, are we asking ourselves what government really does?
Is it worth it?
Expect more inversion to take place. And expect more individuals to shelter money and/or cheat on their taxes. People who get gouged by government are likely to protect their own interests.

Schnee
Salt Lake City, UT

@Kevin J. Kirkham
"they'll still be paying their taxes on American profits. "

That's why I'm not that annoyed about the inversion itself, it's all the other loopholes (some of which are noted in the article) that will surely be exploited so that their American profit driven tax bill is made as low as possible that I take issue with.

Happy Valley Heretic
Orem, UT

So according to conservative only people pay taxes Not corporations because they pass it on to the people.

So would conservatives only tax the citizens of this country and let the corporations keep all their profits so that they will let it trickle down to the consumer and employees? Yeah I think we've been trying that one and corporations have never kept their end of that disaster st. reagan promised, just a steady decline in the middle class and a growing gap of wealth.

Lost, I'm aware of what I purchase and whenever possible my dollars go to local businesses that are Not corporate, even if your unaware that they exist.

Kevin J. Kirkham
Salt Lake City, UT

Schnee, the article only mentioned 2 things - Hopscotching and Stripping. The former simply allows foreign made profits on which local taxes were paid, to be sent to the US without paying US taxes. It simply avoids double taxation. No other country taxes their corporations on profits made in other countries. there is nothing wrong with it.

Stripping seems shady, but its impact would be negligible. If a US subsidiary made $1,000,000 in profits, it would have to "borrow" about $20,000,000 from the home office where the interest payments would equal about $1,000,000. This means that the home office would have to cough up $20,000,000 and have it sit in the US where the home office couldn't touch it. I doubt Tim Horton's is going to be able to send BK 20x BK's profits to avoid paying US taxes. It only works where the US subsidiary is a LOT smaller than the foreign owner.

Most people are basically fair and if the Dems and the IRS were fair, there wouldn't be a lot of effort into dodging taxes.

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