Re: Tires tires tires....

You might want to take that up with the US Government then - they set up the tax code.

While you're checking that out, you might want to check out what some major "US" companies are doing to avoid paying any taxes by using the "Bermuda Tax Loophole". Be sure to note who's company was first to take advantage of that.

Bob

You are correct foreign corporations, particularly Japanese corporations, have a gigantic advantage over American corporations by not paying millions of dollars in federal corporate taxes every year and more American corporation are moving their headquarters 'off shore' to level the playing field. Soon they will take the jobs as well. We should all be writing to our Congressman and Senators to change the tax code to one similar to that in Europe that requires taxes be paid on profits earned within the country. In the meantime we can lower our own tax load, the extra amount we pay to make up for the money lost to Japan, by buying products made by American tax paying corporations. The first to take tax advantage by moving off shore were the ship owners in the fifties. All American ship are registered in counties like Panama and Libya. American corporations are moving 'off shore' as we speak, over 250 did so in 2001. If American soon don't wise up and buy American products the only job skill your children and grand children will need is how to say; 'Do you want fries with that?' or 'Welcome to WalMart'

mike hunt

"'nuther Bob

Probably...but you'll have to say it in Spanish!

It's already happening in our southern border cities.

John D.

This is not quite the same issue. Large "American" corporations that earn billions in *US* profits each year are moving the "Corporate Headquarters" to Bermuda to avoid paying any taxes. There are no jobs going to Bermuda, just a few pieces of paper.

Do a web search on "Bermuda Tax Loophole". You can ignore the political nonsense at first and concentrate on the issue of the taxpayers being ripped off. Once you understand it you can go back and notice that the Republicans - the guys always telling me that they are going to lower my taxes - are fighting tooth and nail against changing the rules to stop this rip off. You might also notice the Dick Cheney's company Halliburton was one of the first to exploit this loophole.

Bob

True, but I suppose that is better than importing the stuff they pick in the US! ;)

mike hunt

"John D." wrote:

I'll try once more because apparently you are a bit slow, then I quit. That is what I said: American corporation are moving their headquarters 'off shore' to level the playing field, so they DON'T have to pay federal corporate taxes like the Japanese corporation DON'T pay US federal corporate income taxes on the billions in *US* profits each year. We as American should be concerned about BOTH problems and should help ourselves by primarily buying those products made in America by corporation that pay US corporate income taxes. Get it now?

"'nuther Bob

Apparently Mikey, it's you that is a bit slow. You responded to *my* post concerning the "Bermuda Tax Loophole" with your rant about "leveling the playing field", then segued into a rant about jobs moving off shore. Here's the quote:

Now, as I explained to you before, your post does not match the point that I originally made. If you'd like to argue your alternate point, that's fine. However, my post is correct as I was responding to your miss-read on my post.

As to your alternate point: You're wrong there too. American companies are not "moving offshore" to level the playing field with the Japanese. They are moving offshore because they are greedy gluttons who don't want to pay any taxes on their profits. It has nothing to do with Japanese or other competition, it has to do with general greed.

Bob