corporate taxation

[Henry Hawk]

Interesting article...   

Cisco CEO Chambers Says U.S. Tax System Is A "Dinosaur"

Mar. 29 2011   

By ERIC SAVITZ     

In case you missed it, Cisco Systems (CSCO) CEO John Chambers showed up on 60 Minutes on Sunday to talk about one of his favorite topics: corporate taxation and the repatriation of profits held overseas.


Some key quotes from Chambers in the piece:

 

   
• "We are dealing with a tax system that is a dinosaur," Chambers told correspondent Lesley Stahl.
• "Every other government in the world has realized that the U.S. has it wrong," he sais. "They're saying, 'I'm going to have lower taxes, period.' That's what you see all across Western Europe, that's what you see in Asia in the developed countries."
• Asked if he's judged as a CEO on issues like taxes, Chambers said, "Absolutely."
• Stahl noted that Cisco has eight companies in Ireland, which has much lower corporate tax rates than the U.S.  "We do what makes sense to the shareholders," Chambers said. "We go where there are incentives in countries that say, 'We want you here, we're going to give you tax advantages, and we want you to add jobs here, etc.' We can no longer in America say, 'This is how we do it, therefore you must do it.' We've gotta change, or we're going to be left behind."
• Chambers repeated his previous pleas for a tax holiday on overseas profits so they can be brought back into the U.S. "We leave the money over there. I create jobs overseas; I acquire companies overseas; I build plants overseas; and I badly want to bring that money back," Chambers told Stahl.
• Chambers said Cisco has almost $40 billion in cash overseas which the company could bring back to the U.S. if there weren't a steep tax penalty to pay for repatriation. ""What is your downside for money that isn't going to come back anyhow? I'd say your downside is zero," he told Stahl.
• And finally, here's Chambers response to Stahl on what would happen if the U.S. cut the corporate tax rate to 20%. "My answer's very simple: every other developed country in the world has already done this. I'm not asking to give me a favor, or a hand out...All we're asking is: Give us a level playing field. Get us close."

[The Troll]

  crying crying criying over   You give 20% and  then they will want another 20%  Pretty soon they will be sucking all of the money out of this country at no cost to themselves.  Crying Crying.  I never seen such big boys cry so much. 

  If these corporations don't want to pay taxes to our government.  Tax the hell out of their stockholders.       We need money to run this country and we can't take it out of the ass of every poor worker.  Let's get the Super Rich for a change. 

[Henry Hawk]

  crying crying criying over   You give 20% and  then they will want another 20%  Pretty soon they will be sucking all of the money out of this country at no cost to themselves.  Crying Crying.  I never seen such big boys cry so much. 

  If these corporations don't want to pay taxes to our government.  Tax the hell out of their stockholders.       We need money to run this country and we can't take it out of the ass of every poor worker.  Let's get the Super Rich for a change. 

The way I see it.......we can be hard headed, and just let things continue OR, we can Oblige them, and return this money and work BACK to our Country...

Troll, IF we was to raise their TAXES.....all they do is raise the cost of the product (pass those taxes on to US, the consumer)...THEY still win, and we still LOSE.

Let's take a hit with those Corp Taxes...let them hire MORE Americans, who will in return, pay MORE fed taxes....it is a win/win.

[The Troll]

The way I see it.......we can be hard headed, and just let things continue OR, we can Oblige them, and return this money and work BACK to our Country...

Troll, IF we was to raise their TAXES.....all they do is raise the cost of the product (pass those taxes on to US, the consumer)...THEY still win, and we still LOSE.

Let's take a hit with those Corp Taxes...let them hire MORE Americans, who will in return, pay MORE fed taxes....it is a win/win.

  OK, OK, OK,  we reduce the amount of tax of the $2,000,000,000, 2 Trillion dollars they have stored overseas.  JUST ONCE.  Then we need something that will keep them from doing it again.  Or it will happen again and again and again. 

[Henry Hawk]

  OK, OK, OK,  we reduce the amount of tax of the $2,000,000,000, 2 Trillion dollars they have stored overseas.  JUST ONCE.  Then we need something that will keep them from doing it again.  Or it will happen again and again and again. 

I say we suspend ALL corperate taxes for ONE year...and watch our economy BOOM.....then restore it around 20% for those who returned....those who did not can stay where they are...


or something along those lines.....we need to give incentives to restore America....and KEEP it here.

[The Troll]

  Well, I don't think so, just look at what happened to Anderson when GM stopped paying taxes.  The same thing will happen to every town and city in the United States.  But you can just go and drink some more of the Atomic Kool-Aid    

  But I do want to ask one question, why is it that none of the oil companies don't pay taxes, GE don't pay any taxes and a whole lot of the largest companies don't pay taxes, HOW! 

                                                                                                                        

[Henry Hawk]

  Well, I don't think so, just look at what happened to Anderson when GM stopped paying taxes.  The same thing will happen to every town and city in the United States. 

Corporate Tax Rate had nothing to do with Anderson.........The Union pricing themselve out of a job did.......nothing more, nothing less.....that is an undisputable FACT.

 

But I do want to ask one question, why is it that none of the oil companies don't pay taxes, GE don't pay any taxes and a whole lot of the largest companies don't pay taxes, HOW!   

Because of our F'd up tax system..........we allow loopholes...........GE has done NOTHING illegal.....they followed the screwed up laws we have in place....
and before you go blaming repubs, be prepared to back it up................the DEMS had complete control since 2006 and had done N O T H I N G to change it....we need to go to the fair tax system....and we need to do it soon!

[The Troll]

  There is nothing fair about the FAIR TAX for the working people.  Have you ever researched the internet for the CON, the bad side of the Fair tax system.  It lets the rich out of paying their fair share of taxes to live in this country.  That's why the rich is for it.

  When I first heard of this fair tax system and it was supported by the super rich.  I smell a dead rat.  So I looked into it and sure enough, the rich will still pay less tax percentage than the common man. 

  You know that's how the rich keep ahead of us.  They make money of every mistake we make.   

[Henry Hawk]

  There is nothing fair about the FAIR TAX for the working people. 

NOTHING FAIR?.... have you seriously researched it?...........I HAVE!

I am not yet convinced it will not have some hiccups....but, the working class WILL be better off than we are now....the economy will flourish....federal revenue WILL grow....so, THAT is what it amounts too....as far as I am concerned.

If you have something to back that up, ... spit it out.

I'm all ears on this one.....and I am convinced just about ANYTHING is better than our current tax system.

so doing nothing but wanting to tax the rich is NOT a solution to this problem.....the RICH will simply pass their extra tax onto us.

NOTHING will ever change that.....NOTHING.

so let's get real, and do something because I am ready for some economic stimulation....

[The Troll]

NOTHING FAIR?.... have you seriously researched it?...........I HAVE!

I am not yet convinced it will not have some hiccups....but, the working class WILL be better off than we are now....the economy will flourish....federal revenue WILL grow....so, THAT is what it amounts too....as far as I am concerned.

If you have something to back that up, ... spit it out.

I'm all ears on this one.....and I am convinced just about ANYTHING is better than our current tax system.

so doing nothing but wanting to tax the rich is NOT a solution to this problem.....the RICH will simply pass their extra tax onto us.

NOTHING will ever change that.....NOTHING.

so let's get real, and do something because I am ready for some economic stimulation....

  I have heard you cluck for along long time.  I know we'll just give up and any one making over $200,000 a year will pay not pay any taxes because they create the jobs.  Hell, there is more of us than them.  We got broad shoulders.  We can handle it.  

  We will just throw are left leg over our left shoulder and the right leg over our right shoulder and kiss our ass goodby.

[Nighthawk]

And again, troll can't back up his claims. 

[The Troll]

And again, troll can't back up his claims. 

  Here we go again.  Mr. Nighthawk.  It is a proven well know fact, even the Republicans will admit to it.  The largest transfer of wealth, money, in the history of America has happen in the 8 years of George W. Bush.

  The tax cuts for the rich, corporate welfare, George H. Bush's NAFTA and the closing of over 6, 000 manufacturing plant at the same time is what caused it.

  I am surprised that you missed that information.  It been on every TV station in the country.  Maybe you were reading too many Far Right Bloggs on the internet.     Why don't you also add Link Television to your watching list along with CNN, PBS and MSNBC and increase you knowledge of of politics here in America.

  Clear your mind of all of the crap you got in it and stop watching Fox News.  Watching Fox will damage your brain. 

[Henry Hawk]

Troll, YOU are only mimicking what the media keeps telling you, over and over and over.....just more propaganda.....and kool-aid drinking........brought to you by the likes of George Sorros and the the Huffinton Post 

I think it is more likely to state that we NOW have the largest tranfer of wealth from the middle class to the GOVERNMENT in our history....

[The Troll]

  Henry where is your brain, out to lunch.   We are paying the lowest federal tax rate in years and years.  Henry you got another tax rate just last year.  Get your head out and breath. 

  Henry, George W. Bush with Obama has cut our taxes to a point we are going broke, you can't spend more than you take in.  We are still fighting George W's two wars and a unfunded drug bill.  Wake up Henry.  I really think you're drinking something else other than Kool Aid. 

[Henry Hawk]

  Henry where is your brain, out to lunch.   We are paying the lowest federal tax rate in years and years.  Henry you got another tax rate just last year.  Get your head out and breath. 

  Henry, George W. Bush with Obama has cut our taxes to a point we are going broke, you can't spend more than you take in.  We are still fighting George W's two wars and a unfunded drug bill.  Wake up Henry.  I really think you're drinking something else other than Kool Aid. 

Are YOU smoking dope?

You just said, you can't spend more than you take in, but yet OBAMA is unwilling to even attempt to try this...the two wars we are STILL fighting and we are on the cusp of a third one....

and btw,

I am not complaining about MY taxes.......THANKS to George W. Bush

What we need is to spur this economy by inspiring the private sector, so the the unemployement rate DROPS producing MORE federal tax revenue....and cutting corp tax WILL, stimulate this economy....

THIS IS A FACT!