Romney’s Corporate Tax Proposal – Curtis Dubay

Romney’s Corporate Tax Proposal – Curtis Dubay

and that art is proposing a happy so
legislation here that would basically prominently exempts corporations who make the profits overseas in pain
u_s_ taxes seems to me like that would encourage
them to make more things overseas and keep their money overseas when this new yorkers today is a senior
tax payers in policy allison tax policy of heritage foundation heritage dot org curtis welcome back to the program i had to be here surfer american progress says uh… the
grammys tax plans going to kill a hundred thousand u_s_ jobs how does it
help us to say the transnational corporations if
you manufacture things outside the united states you have to pay taxes drizzle it says the depth of that obama campaign separation of data rely
on a study from a campaign contributor that the prisoner at the study the new
york times to added in said agree with the conclusions they have exactly backwards if we went
to what uh… president bombers protein which is going tax in the world wide
profits part of our businesses reducing killing more jobs through proper channel when a germany
does that south korea does that taiwan does that japan does that china does
that i don’t see any of those countries having problems with the with with don’t
do that’s the extent that we do it they have big u_n_ as it were more than we do
have most of it they do with value-added taxes but they do it massively mauna loa
you can take a conflict if he can federal bailout that someone you have
silicone corporate contacts their entire applied that excessive
things made outside our country it’s a form of this error david boren trust them that’s different
it was on the court recompense we’ll have a bat so that that’s what i got
aboard as if that is a tear up i think if we if we’re not gonna have that taxes
we shall we say a terrorist but but but but this is a very sad no
residence that’s great you’re misinformed that that the
discussion discussions a corporate income tax we are now wire incomes around the world
when it comes attacks their pins than income they earned are for prizes so
prices services they sell grow up if we went to work or every other country does
which is always pacifism income a term without borders well if you want to add to that of that
tax like all those countries that i just listed or gail actually most of those
countries have variations on import taxes a musical phase of magical duties if domestic content rules in all of
those countries except one i mean what we’re doing none of that we’re doing no
rational trade stuff whatsoever you’ve got american corporations
american-based transnational corporations have been two trillion
dollars inside the united states three trillion dollars outside the
united states they’re not bringing back because they
don’t pay taxes on a shouldn’t we be saying to american base
corporations you know if you wanna call yourself an american corporation g_e_ then start making things in in in
america general electric a more than half the revenue outside the united
states last year they are an american company book without a bat in a bit that an
american company so i’m not surprised on the world which should be encouraged by that especially because of business either
pay no taxes here in the a yet they’re using our court system to to add in our
military to protect our shipping lanes and forces
contracts at the taxes that president to create their importing a lot of american
workers but they’re very good thing we should be
encouraged by that we really don’t think we all know when i know come on jack
welch brags in his autobiography about how back in the early nineteen eighties
he was over in india uh… you know to sell a power plant to
the indians from from he was that c_e_o_ jheryl electric an electron sent a letter always people
they speak english while i paid anybody to do what bookkeeping while i paid
anybody to answer the phone rio and he started probably still brags about it to this day proudly the process of outsourcing pink
and white collar jobs behave and ultimately what then the logical conclusion on what you’re
proposing which is to tax the worldwide profits of say g_e_ at the time yes well yes what would be a bit what would
be the result we wouldn’t have american companies they were just pops taken the
edge of the result would be delighted that g_e_ would split into a number of
companies cheese european operations are becoming european based company by the
way they would be paying taxes in europe g_e_’s australian operations have become
part you know an australian corporation to be paying taxes just really a and g_e_ in the u_s_ might actually pay something in taxes they pay no taxes
last year you know no federal income taxes or yet before that or the year before
that out all years after the big two thousand
seven crashed you want if you want the corporations
the pay what more taggers ticket they carried a mind and get them
get their profits go going on now have a lot of time we have a secondary low
effective tax rate actually paid to income corporate income
tax rate in the developed world the second lois
we may have the top at thirty five percent we may have the top rate that we
point two and brag about but in fact corporations in the united states pay on
average around seven percent or you’ve got a christmas that must use of the
studies show that what you are effective tax rate is still in the top five now committed dot com
jitna it is not if you look at the o_e_c_d_
standards we are number two in the elise immediately said by looking at the terms
of christmas a product remember were different out every other country
we have passed writing for other countries don’t have those you have to
add that wasn’t began apples apples and pears we have one political s_ corporations ill sees pardo
pastors passes yeah uh… bliley and andy needed maybe maybe not i mean is that
those those for those corporate forms exist pretty much all around the world and and have grown dramatically since
the eighties but the other thing is that if you go back to the eisenhower years uh… little over thirty percent of all
federal revenues work from corporation taxes right now and i think that’s are less
than ten percent why has had a revenue surfing the net
and change in inc forms though is that a lot of income security
in that individual side right so that’s a silicone scope rose
call some other companies sub s_ companies ought to small business right and we go ballyhoo allow divers in
texas escorts partnership that often elephant and it is a difficult others doing its
best business enough areas uh… divisive things nothing wrong with
having uh… afloat their intended it that would eliminate waitin corporately
once you have lots of good let’s tax people reasonably let’s let’s tax those
businesses or those people reasonably they pick accident that u_s_ keeping a
tally of the f_a_a_ show if you call a carried interest you pay a max of
fifteen percent income tax that’s different is that this is the
business income taxes before thursday eve eugene at some irani doesn’t what he’s earning carriage on talking about the business
itself i’m not talking about an individual investor wildly arguably that’s a pass through i
mean it’s it but were it were a one twenty eight down in
that we need to know what’s let’s let’s pull out and look at this thing from
from fifty thousand feet why shouldn’t we simply say to american
based corporation if you want on corporate this country if
you want use of our military to defend your products if you want use of our worldwide copyright and patent police
and their worldwide it’s a huge caused to the federal government if you want use of our court systems to
defend those things your patents and trademarks around the
world then you’re gonna have to pay taxes in
the united states u_s_ companies are headquartered pale at
the tax here in the u_s_ the reason what we know under overseas
operations were were still defending them we go to china and we were at least
we have government officials from the united states going to china
running around looking for fake apple products and yet at was not paying u_s_
income taxes on their profits in china we want businesses to be crowell and add more workers in the u_s_ that’s the
ultimate goal as we walk so let’s bring shot is a battle bit if they put their
prize earned a man around the world they’ll grow back here the research is
coalesced around this this kind of common sense that if apple selling work
i’d pads over in china around the world they’re gonna employ more people back
here because that cheese met them and they’re gonna end up in cornwall
american work then why is that then why is it that the fortune five hundred
companies have been shedding employees for over two decades what ek did don’t they have been laid off for every
for every american they lay off the they hire two point two people outside the
united states has been going on for twenty years items as it’s now said cat russia after
i’m pat sherie regard that but again if it’s is never a bad thing when
the u_s_ company is finding more demand for its products abroad so enormous top
annie’s job growth back here if it’s made here are a bit i’d really go if it’s it it it doesn’t us-based
company in making things in china and selling
things in taiwan and making and and pay no u_s_ profit on
a i don’t see where the benefit to the united states is sue meet their demands make those products a
guarantee you that if they’re headquarter u_s_ third growing jobs that
here because that the capabilities to do that
expansion are art center now that’s a personal thing for that
expansion is that he that he got expanded needs for bookkeeping g_e_ is
outsource that india inject wall wealth brags about it your customer service g_e_ and other
companies brag about the fact that such that the philippines in india you get what else whilst in a engineers the apples building engineering centers
in china right now i got a whole with the money there’s
there’s lots of different functions that are that and the pinnacle records executive services business services
carciani resume in a large amount of but the other the libraries are a lot of
other things with her is that the fact of the okay uh… it well first of a people can read all of us over heritage
dot org senior policy analyst barely finishing first they stopped by

Comments (8)

  1. What uhhh Huh showing the Heritage Foundation to be a total What uhh Huh
    They say Corporations have no Borders , Well if Corporations are people we should hang them all for TREASON then

  2. It would interesting to see what might happen if the USA lowered its corporate tax rate to 5 percent (or zero). Let's see if makes a difference. Would that be sufficient to bring jobs back to America?

  3. He is an IDIOT! Folks like him that are not going to be satisfied until AMERICA is a thurd world company.

  4. Ohhh, but your job at Heritage matters, doesn't it, Dubay? You gotta keep getting those kickbacks from the Kochs.

  5. What would be the point of cutting corporate taxes and getting your personal taxes raised to the point where you(personally) are paying 20% to 25% on 40000 or less while capitalist pay 13% on taxes.

  6. Curtis dubay is not that bright

  7. The Heritage Foundation is an anti American terrorist orgination

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