On Oct 19, 7:08 pm, Gaar <[EMAIL PROTECTED]> wrote:
> What they don't get is that there are other places in the World now
> that seem to be heading in a more Republic/Capitalist model than the
> U.S.
Actually, it's been happening for years now. Small and large
companies, such as GE and GM, shelter much of their profits overseas,
many in Europe where the effective and marginal tax rates are lower -
often considerably lower. Ireland's recent rise to top Euro-economic
status is directly attributable to it's low corporate tax rates.
In anticipation of additional domestic penalties such as promised by
an Obama administration, companies have been setting the stage to
divest their US operations - not openly by declaration, but by
defaults and segmented bankruptcies. One of the more clever approaches
considered by GM, for example, was/is merging their losing domestic
operations with Chrysler's losing domestic operations. It's
complicated, but the potential domestic tax advantages are enormous.
Meanwhile, I'm trying to get by on 14 dollars a week...
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