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  • #32
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    I agree but it will never happen.It would take power away from politicians that profit from the deals they make with corporate donors and lobbyist.
  • #87
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    @AceLuby we have had this discussion already. You really should learn to think outside of the box!
  • #96
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    @miketost then we have two choices. Replace the power hungry politicians or give up and watch the country die.
  • #97
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    @AceLuby you are willing to overhaul the health care industry to cover a very small percentage of the population but you are not willing to overhaul the tax structure for the benefit of the country as a whole?
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  • #24
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    It's called capitalism. Medtronic left my state because of the greedy Democrats who have controlled the state for the last few decades. When the shareholders (and our IRAs) continue to lose money it's time to move.
  • #66
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    And what about a startup that wants to compete? They have basically bought themselves a competitive advantage to stomp out competition. That's the worst kind of capitalism and not how America grew to the best country in the world. In fact, it's things like this that took us from the best country in the world to not even close to the best. But hey, keep defending this practice so we can send more and more US money overseas to better other countries. Awesome plan!
  • #72
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    @AceLuby so instead of blaming the US tax code for driving companies out, you blame the companies? Brilliant.
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  • #38
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    Would you rather have 13% of a lot or 22% of nothing? Any company is going to go where they get the best deal. Who is the idiot that wrote this?
  • #71
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    Keep supporting company's that shift jobs and US money overseas. This is the reason why our economy is so messed up, people like you defending huge corporations and their sleezy tactics to funnel more and more money out of America to be spent outside of America.
  • #89
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    @AceLuby Me lol not your boy obama and the policies he sets?Get real.I wonder if you ever had a job by one of these evil companies that now try to survive were ever they can?Perhaps you live of the failed government policies you so adamantly support. Your non support of capitalism says volumes.
  • #93
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    @AceLuby Guess you have a problem with the democratic senator's daughter just caught evading taxes with off shore accounts?lol probably not its a democrat not an evil corporation.
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  • #36
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    Story posted by the president of the United steel workers union. The same clowns that forced mills to close here and allow imports of foreign steel to replace what we once had.
  • #162
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    View The Sacrilege - Walmart Built In Grave Yard of Steel Industry at
    http://ray-tapajna.artistwebsites.com/feature...
    A Walmart was built in a location where once thousands of steel workers made a middle class living. Instead we now have a few hundred workers who are now part of the working poor class that need government help to survive. see
    http://tapsearch.com/confessions-for-history/...
    See also The House of Cards - Tapsearch Com
    http://tapsearch.com/tapartnews/id8.html
    The House of Cards Economy by Paul Donovan predicted the coming of our economic crisis. It was published twice in the Steel Industry Magazine.
  • #167
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    I recently was in Pittsburgh and surprised there were still 2 mills in operation.The strip malls and flower shops will never bring back the jobs lost.
  • #171
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    No one "forced" anyone to close any plants here or move jobs overseas...
    .
    unless you mean the people who weren't willing to be "competitive" and work for $5 a day...
    .
    But I'm sure that wasn't you right? LOL...
    .
    or maybe judging by your flag up you figure maybe "certain people" are just naturally meant to to work as wage slaves... or is that some "States rights" theme you have going on?
    .
    I know, I know it's your proud cultural heritage... Mine too but frankly I think we should both be ashamed... Nothing proud about it...
    .
    Have you noticed since the Unions left that wages have stayed flat for Blue Collar folks for the last 20 years??? And there are no pensions anymore??? And no loyalty by any of these multi-national corps to America or any other Government.(or to they employees)???
    .
    That's what the Unions brought us...
  • #175
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    miketost - You missed the boat on that one. How exactly, did the "clowns allow the mills to close, and allow imports of foreign steel"? The United Steel Workers Union have been fighting unfair trade deals, and the dumping of Korean steel on the U.S. market since it first began.

    But this article has to do with companies using tax loopholes to avoid U.S. taxes. Saves them billions. I say fine. If you don't want to play by the same rules as U.S. based companies, you get no U.S. contract business. That would be a major blow to Walgreens.

    And meanwhile, the U.S. supports their profits because they pay their U.S. workers so little that those workers qualify for Government assistance. Cut that off too. If you work for a multinational that has a foreign address to avoid taxes, you're not eligible for government subsidies. That would make these companies think twice when they can't get any U.S. workers.

    Let's see. Currency manipulation. No environmental or worker safety regulations. Unfair trade agreements. Tax loopholes that favor a foreign address. Offshore profits sheltered from taxes.

    Gee. Sounds like a lot of issues Congress could work on. But this do nothing worthless Congress would rather spend time on 52 votes against the ACA, and Benghazi investigations. Just like immigration, the GOP doesn't want this fixed. Their big corporate donors want things just the way they are. And here comes the TPP.
  • #184
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    I do not know if any of you Gents are old enough to remember Ross Perot .

    He ran as an Independent and warned about much in business which has happened .

    The media portrayed him as crazy because he had his own style and wasn't part of the Washington bunch .

    He was not PC, He was not polished but he saw what was coming and was mocked .
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  • #9
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    It's not going to change anytime soon either, not when the leeches in power cater to the leeches in society instead of the producers. This article coming for another leech, a union president. I love comparing their salaries to those of the workers.
  • #37
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    @Nemesis3X "I love comparing their salaries to those of the workers." Why would that matter....... unions members vote for their representatives. If the members feel that one of their own that does a good job collectively bargaining for the good of them all, they have absolutely no problem with union management being fairly compensated too. When union management does a poor job the union members vote them out. Perhaps you should compare what the CEO of Walgreens is making compared to it's retail staff.
  • #61
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    @zipyourlip The same is true of company CEO's whose boards vote them in negotiate their salaries.

    Oh, and Gerard's total compensation is $197k. He's a hypocrite.
  • #69
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    Taxes are a part of doing business, and always have been since the first settlers came here. The leeches are the business owners who have the ability to do this so they can give themselves a competitive advantage to any startup, all while sending more and more dollars offshore to not be used in our economy.
  • #103
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    @methinks As soon as you can demonstrate to me that Mr. Gerard is making a 100X....200X more than the lowest paid union workers he represents, then you'd be correct. Mr Gerard isn't more interested about shareholders than he is the people that duly elected him as their representative . Your argument is pointless. Do you feel the CEO of Walgreens is worth 100X.... 200x more in compensation, as opposed to the retail folks that aren't allowed a union contract?
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  • #68
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    This is what happens when you legalize theft - the robbed go elsewhere. Even if 51% of people vote that it's OK to take from group A to give to group B (which may or may not include that 51%), that doesn't mean it isn't theft. If two of three people on a deserted island vote to steal the third guy's food and split it between themselves, is that not theft, despite the use of democratic process?
  • #111
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    No, it isn't. Because they voted and that made it law. It would be theft only if it were unlawful. You don't seem to grasp the simple principal upon which all civilization is based...that is, legitimate government sets up rules for the game to prevent chaos, revolution, tyranny, and other ills that the Enlightenment foreswore. And in the modern world, that government which is democratic and republican is considered legitimate by almost all educated, reasonable persons. You seem to disagree, which makes you a dangerous radical who would tear down civilization and replace it with either tyranny or chaos.
  • #132
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    @pavo1994 You are the one who doesn't seem to grasp the simple principle upon which all civilization is based, and that is that all people have a right to their persons and properties. Just because a government is a democracy/republic does not make it legitimate; just because most of the so-called educated people believe so does not make it so (that would be circular logic - i.e., democratically deciding that the democratic process is legitimate). Just because a government accepted or tolerated by the people it rules passes a law does not make it legitimate and does not mean that prevents chaos/tyranny/etc. By your logic, if 51% of people discovered that it would be prudent to kill the other 49%, they could simply pass such a law and that would make it right. Theft is theft--a violation of the fundamental rights of every individual on the plant--whether an overlord/king/dictator chooses to do it thousands of subjects, whether two people democratically elect to do it to a third other, or whether 157 million people vote to do it to 156.9 million others.

    I submit that it is, in fact, all you who support the use of government coercion to achieve your social and political agenda who are the actual danger to civilization--all of the tyranny and virtually all of the chaos in recorded history has been the fault of governments, not free individuals acting alone.
  • #301
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    @TheSaltMiner I got a simple solution for ya. You hate America? Leave. Get out. Form your own government on an island that you purchase somewhere. Otherwise, you are subject to rule by the majority under basic principles established in the constitution.
  • #308
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    @bwstack The Constitution established no such thing - the whole point of the Constitution was to prevent autocratic rule by the fickle majority, if you'll care to actually study some history. I submit that it is actually you and those like you, who tirelessly work to remake America into a puppet to push your agenda rather than protect the freedoms of her people, are actually the ones who hate her, and it is you who should get out and go live in one of the many other countries that already control their people more to your liking.
  • #315
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    @TheSaltMiner This is a democracy, which, apparently, you cannot abide. In a democracy, the majority rules, which, apparently, you cannot abide. The majority may change laws and even amend the constitution as it wishes. That, apparently, is what you hate about America. You should join these shiftless corporations overseas.
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  • #30
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    Perhaps he can address the issue of Chinese steel flooding our markets and what his union did to help cause that. If he's so business savvy surely he can rejuvenate American steel - or unionize the Chinese steel workers.
  • #181
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    Tacitus01- Oops! you forgot one thing. The Korean government is one of the big culprits of steel dumping, and it has nothing to do with the U.S. Steel Union. Korea dumps steel here below cost due to currency manipulation, and government support. The U.S. Unions could compete with them if the playing field were leveled.(and still pay real wages)

    Obama did it for the tire industry. It's time to do it for steel. But that won't happen. The big user of Korean steel is the oil industry, and they've put too many Republicans in Congress.

    Don't worry. When guys like the Koch brothers buy more of Congress, trade agreements favoring multinational companies will get even worse. Of course, that will mean the shareholders will make more money on their foreign investments. That should create all sorts of jobs here for pool boys, golf pros, and car detailers.(Trickle down) Lol!

    Eventually, the wages of foreign workers will come up, and all we'll have to do is move there for the jobs.

    Look at the bright side. We won't have an illegal immigration problem anymore.
  • #186
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    I thought the chinese imports were dealt with and it is the Korean ones now. Hence, China took a case to the WTO to dispute it.
  • #245
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    @BishC - We're fighting it on all sorts of fronts. Something GWB never did. Are we doing enough? Not hardly. Big donors with deep pockets like it this way. And the vast majority of those big donors support the GOP.

    Thank goodness the head of the Steel Union is speaking out. But it's not just steel. I can name lots of technical, and non-technical, products from the industries I've been in for the last thirty years. Tax breaks, crappy trade deals, lack of safety or environmental regulations, and currency manipulation, are a much bigger part of the problem than the 'cost' of U.S. union labor. These are all things the multinationals want. It's all about 'shareholder value'. And if your competitor is stuck in the U.S., and unable to take advantage of these 'profit enhancing-opportunities' that's great.

    As far as cases disputing their practices, that's figured into the 'cost of doing business'. These companies have armies of lawyers who are highly skilled at dragging the process out. This is not unlike the supposed pending cases against the Wall Street banks for the 'crash'. The cases are so complicated, that prosecution is always very lengthy. And often, the companies get to continue doing business while they proceed. In a few I know of personally, the harmed companies didn't have the time, or resources, to even fight.
  • #277
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    @eyesonu

    Forget it. These fools are blinded by their own one-sided, one-party opinions and most are as UN-American as the companies they support. Their fascist ideals are what is destroying America as we used to know it. America is nothing anymore. In order to make a handful of people and businesses grossly rich, the rest of the nation has had to grow weak. We used to be proud of our country; but not anymore.
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  • #25
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    Makes perfect sense for medical device companies to make the move given the taxes levied on them by the ACA.

    Also, while we are on the subject of loopholes, do liberals not tax available loopholes in their personal taxes?
  • #300
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    Did you bother to read the blog? Obviously not. Medtronic is not physically moving from the United States. Every medical device they sell there will still be subject to the ACA tax. So tell me again how this dodge of taxes on foreign earnings is related to the ACA?
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  • #6
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    America should never conform for corporations. Corporations should conform for America. They work for us. Not the other way around.
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  • #11
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    WTF its a business not a charity.When the fools that punish corporations with extreme tax penalties understand they are cutting Americas throat maybe things will change. That or it is what they want to see as a destruction of business in America?They have no problem taking their profit in taxes yet condemned them for trying to protect their bottom line.Go figure?
  • #104
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    "WTF its a business not a charity."

    Yet when these corporations get in trouble they expect a government bailout....America is not a charity either.
  • #133
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    @boombatic It is to the deadbeats .The small numbers that deserve help is not the problem its the trash and illegals that are the biggest drain on Uncle Scams tax dollars.
  • #234
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    It seems so clear to you what we should do, isn't it? Let corporations pollute, monopolized industries and stifle competition. Even our great grand fathers were smart enough to know that the anti competitive practices of the big corporations had to be controlled. I'll tell you who is cutting America's throat...it is buffoons that think that the way to stay competitive is to allow carte blanche to corporations.
  • #302
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    Oh really? Then why do businesses demand money from governments when they move or build new buildings?
  • #349
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    @boombatic --- So because its a business it has no obligation to be a good corporate citizen? I thought that the Supreme Court said corporations had the rights of people...do they also have the same responsibility???
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  • #46
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    Why wouldn't businesses want to leave the U.S.!

    It's a damn welfare country where taxes are high ... cost of living is out of hand ... healthcare cost are freaking ridiculous ... so who in their right mind would want to incur the cost of doing business in the U.S.?

    Also the damn import laws favor businesses that are overseas vs. one's that are located in the U.S.! So why shoot yourself in the foot just to remain in a country who's collapsing economically seems to be driving business out of business or forcing them to leave?

    Don't even try to blame this trend on taxes because that's just an effect and not the true cause why our country isn't competitive on the global stage!

    This is systematic of what happens what you left morons (namely politicians) who are incapable of running a whore house run our country.
  • #76
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    Because we're the #1 consumer in the world? What we need is to even the playing field so American products can compete with foreign ones and get rid of the free trade that ruined our nation.
  • #107
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    @AceLuby sure we are the #1 consumer market, but that includes rent, energy, food, government fees (not taxes), as well as our share of other people's reduced cost goods and services. It does not automatically mean we will be the #1 market for any specific trade good.
  • #281
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    Let's look at THESE facts.

    People paid a decent wage for working have more disposable income to spend, which means more goods and services are purchased which means more money for businesses. The less money people have, the less they can spend on movies, eating out, clothes, gadgets, new cars, etc. This is the position we are in right now.

    Let's move on to the welfare country idea. I know it's a very popular way to think, but it drives home the point that it's not just businesses who are now UN-American. We, our own people, hate each other. We find myriad reasons to fault each other. You're poor, you're gay, you're black, you're rich, you're .....and so on. The individual ego is out of control in the America. I've never, in my life, seen so many people who THINK they are better than everyone else.

    I keep asking why it's OK to give away billions and billions of dollars every year to foreign countries. Why it's OK to give away OUR tax dollars to ALL but 13 countries in the world, yet in the same breath people will denounce an American child getting a free school lunch. No one can answer that question because they want to. What they really want to do is build their own personal ego by making themselves appear better than that hungry American child. So what if Israel gets billions of dollars so it can bomb and battle its neighbors? So what if Pakistan gets billions even if they'd like to blow us off the planet? What we have to focus on is that welfare child and his lazy-ass mother and the couple hundred bucks a month she gets to feed her family.

    The nation changed radically on September 11, 2001. It was almost like a signal to the world and from that point on everything from economics to mental stability has been transformed into an unrecognizable landscape. I don't know America anymore. This isn't the nation I grew up in. These aren't the people I thought of as my fellow Americans. This place is something completely different. This change didn't start with Obama. He may be carrying on an agenda, but he didn't start it. It was already taking shape before he showed up and I don't believe ANY president from here on out will have the control to stop it.
  • #335
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    "It's a damn welfare country"

    And here's the true irony...

    Food Stamps, Disability, Etc. all increase the buying power of the poor, making it a great country to sell goods to. These companies will continue to sell here precisely for this reason. People here will buy. However, they are "officially" leaving the country, so that they can avoid paying the taxes that allow their consumers to continue to purchase from them. They still receive all the benefits from out "welfare country", without having to put anything into it.
  • #346
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    @PayThatCEO Wish I could vote what you said up a 100 times! Of course as it's the truth,will be ignored.This IS not the nation I grew up in,we are destroying our own nation.Instead of working together to change what needs changing,pass bills to help our country,Congress is to busy blaming the other party for everything wrong in U.S,instead of working together to Help our country.Whatever happened to "by the people and for the people"??
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  • #34
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    Poor Leo. This doesn't fit into your union mentality does it? I say good for them. Well your democrat buddies passed Obamacare, now everybody has read it, sees what's in it and is fleeing the country. I hope the jobs lost are all union jobs. Karma is a bitch.
  • #148
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    @AceLuby yeah, and lets ignore why it is happening and blame the companies escaping a nearly 40% tax rate + higher employee cost.
  • #242
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    @Yank Don't use percentages that doesn't back up your statement. The average Corporation pays an effective Federal tax rate of 18% to 0%. If you don't believe me look it up. If you make your money on investments it even lower than the 18% high. The problem lies a lot with States with their hands out. California where I live has bled the tax base practically dry by taxing even foreign earnings.
  • #259
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    @Yank You link sounds to me like they are comparing tax rates from the rate table not the effective rate tax corporations are paying with subsidies. Maybe not but the article wasn't clear to me on that point. Another look at the effective tax rate provided by the GOA http://www.gao.gov/assets/660/654957.pdf lists it at about 17% well below what you and I pay on an income of 75K. The following is a list of corporations listing market values that pay zero tax. Another link listing billion dollar corporations that pay no tax at all.
    http://www.usatoday.com/story/money/business/... With big corporations the tax table rate is a joke. I bet if they really booked it separately by counting Tax Lawyers, Accountants and costs of buy out of companies in foreign lands they aren't saving a dime of the stockholders profits. So it all boils down to what link you want to read and what agenda that link has.
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  • #172
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    Get rid of our ridiculously complex and cumbersome tax code, and come up with something much simpler that individuals, small business, and large corporations can all live with. It may be unpatriotic on the part of these corporations doing this "inversion" process, but don't we all understand the desire to avoid a high tax rate?

    With so many American corporations getting tax refunds, there must be a balance somewhere, a middle ground, a compromise solution.
  • #45
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    Unfortunately that's going to be the wave of the future of American Companies. . The way corporate tax structure and state, federal and local regulations and the EPA going run a muck. . Alot more corporate offices will jump over seas...
  • #40
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    "It has been a crime since 1966 for foreign nationals to donate money to American political campaigns."

    LOL! Like that stopped foreign money from pouring into campaigns.
  • #90
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    I just mentioned that, didn't see you link it already. Notice how he ignores local and state taxes and just focuses on the federal rate? Ireland has less then a third of the corporate taxes that we do and he is shocked that companies are flocking there? Has he not been paying attention to companies moving to low tax states as well?
  • #115
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    Yet in actual taxes paid, far from the highest. Since the US market is still considered the most important and profitable and safest in the world, it would make sense that it should cost a little more to participate.
  • #119
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    how much money will these Irish companies make from the Irish market? Let them pay Irish taxes on their Irish income...and U.S. taxes on their U.S. income. That's fair. Why should they be given free access to the US market, to milk it for all they can, and then just remove the profit en toto to Ireland? You are advocating that we be reduced to a colonial status by Ireland, sucked dry by Irish companies, companies that don't return one cent to sustaining American civilization. That's just stupid, isn't it?
  • #149
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    @pavo1994 again, that is only Federal taxes. There are also local and state taxes as well.
  • #166
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    @pavo1994 The fools here have set the policy that makes it possible for a company to survive elsewhere.Blame those not the companies.
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  • #13
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    Fair tax ends this problem. From a business point of view, it makes sense what these companies are doing, its all about money at the end of the day.
  • #78
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    It just shifts the problem so that you pay their taxes. If you want your taxes raised you don't need to change the tax structure.
  • #124
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    @AceLuby how do you figure it shifts the problem.
    What you pay is more under your control, based on the new goods and services you purchase.

    The FairTax is a simple, fair and transparent solution to replace our current tax system.

    It treats all citizens equally and allows American businesses to thrive, all while generating the same tax revenue for the government through the establishment of a national retail sales tax on new goods and services.

    God knows I keep hearing how everyone wants to be treated fair and equal.
    Well, lets see about that.
  • #126
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    @AceLuby the problem is that fair and equal is not what most Americans really want. Oh sure, it sounds good to say that at parties, but really they just want to stick it to someone else whe they get for almkst nothing.
  • #271
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    @Thegrif

    There's no such thing as a "Fair" tax. Taxes, under ANY structure, are written to protect wealth. Little people get screwed no matter what. The Fair Tax would be very destructive to working people.
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  • #82
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    Mr. Gerard should remember that shareholders in these companies are his peers. They are also blue collar workers who invest in 401K plans. They are mainstream citizens of the USA.
    When the return on their investment becomes too low they invest elsewhere. So, with the advent of Obamacare and its restriction upon private research coupled with the high corporate tax rate some are saying "enough is enough."
  • #88
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    Actually 90% of all stocks owned in the US are owned by the top 10% of wealth holders with the top 1% alone owns 40% of them. That 401k holders own any real amount of company stocks is a myth. That is why I get so mad when people use Wall Street as a measure of our country's economic health.
  • #143
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    @Yank Then how did I manage to save a nice nest egg in my 401K plan? How did my wife manage to save a nice nest egg in her 401K plan? And, how is my son managing to save in his 401K plan today? How did my co-workers manage to save in their 401K plans?
    You can preach that stuff all you want but, fact is, many blue collar workers have put away a lot of money for their retirement. Today, with the disappearance of the old pension system, many corporations have based their employee retirement in a 401K plan to which they contribute on the employees' behalf. So, even if the actual monetary value of their investment is small compared to the billionaires, it is just as important to them as anyone else. And, actually, the richest investors only have about 70% of the outstanding stock. And, you cannot put 401K plans in the "rich guy" or "corporate ownership" category...that actually skews the results.
    And, the reason the stock market is so high now is because of the fed and its propping up the economy. People have few other places to invest.
  • #144
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    @seedtick doesn't change that you are not the ones owning these corporations. Just imagine how much money those owning the other 90% are making.
  • #272
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    I'm a "blue collar worker" with a 401k. Whoop-de-doo. Most working people don't have the option to "invest" elsewhere. The investment firms your employer chooses does the investing for you. Most "blue collar workers" don't have that much money to invest anyway, if they have any to invest at all. What I earn off my 401K will never be enough to do me any good in retirement. But I'll be Fidelity and Vanguard are probably earning a nice chunk of change....from my money.
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  • #43
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    why did media not attack all those sorry companies who fled the USA and opened in mexico after nafta?
    oh i see,when it takes money out of the pockets of the gov it is bad when it hurts the average citizens and working class it is ok
    our gov does so many things that hurts the country for business and jobs
  • #161
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    @SandySF start by getting out of nafta, then charge out the wazo for all trying to import things that was once made here. all who have left the USA and set up shop in another country stabbed us all in the back so it needs to be twisted into theirs.
  • #164
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    @tomincali to add that would help some of other countries as well,our produce and what not shut out the small farmers and what not in countries like mexico it only helped the big guys as it did here.
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