This Isn't Protectionism Act [FAIL'D]
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  This Isn't Protectionism Act [FAIL'D]
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Author Topic: This Isn't Protectionism Act [FAIL'D]  (Read 4039 times)
Franzl
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« Reply #25 on: July 26, 2010, 04:41:49 AM »

I think it should be on a sliding scale instead....otherwise there's not much motivation in some cases.
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Bacon King
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« Reply #26 on: July 26, 2010, 03:48:20 PM »

It's a good start.

I question section one though- wouldn't it put Atlasian companies at a comparative disadvantage internationally? Say, an Atlasian company is operating in Ireland. An Irish company would be taxed once: by Irish taxes. The Atlasian company, however, would get taxed twice: the standard taxation from the Irish government, and this taxation from the Atlasian government on their investments in Ireland.

Section two is good, in principle; it only needs to be fleshed out a little more. Maybe adapt Franzl's idea.

It would also be a good idea to directly and specifically repeal whatever "tax cuts" currently exist for Atlasian companies to go overseas- NCYankee, you referenced it, do you know the details?
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Southern Senator North Carolina Yankee
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« Reply #27 on: July 27, 2010, 07:54:33 AM »

It's a good start.

I question section one though- wouldn't it put Atlasian companies at a comparative disadvantage internationally? Say, an Atlasian company is operating in Ireland. An Irish company would be taxed once: by Irish taxes. The Atlasian company, however, would get taxed twice: the standard taxation from the Irish government, and this taxation from the Atlasian government on their investments in Ireland.

Section two is good, in principle; it only needs to be fleshed out a little more. Maybe adapt Franzl's idea.

It would also be a good idea to directly and specifically repeal whatever "tax cuts" currently exist for Atlasian companies to go overseas- NCYankee, you referenced it, do you know the details?

There are no "tax cuts for companies to go overseas". Any tax cut that has ever been given to a corporation could potentially be labeled as such. The tax cuts most at fault I would imagine would passed as economic stimuli in previous recessions to encouraged corporations to expand and hire. However the way the were written left loop holes by which companies were able to engage in mass outsourcing yet still get the tax credit, or cut or deduction. In my opinion the tax cut/deduction/credit is the the catalyst for the outsourcing and if it is, it's very low in terms of whats to blame such as higher US wages, taxes in other categories, regulations etc. The "Tax cut to send jobs overseas", as left wing demogouges call them, are little more then unintended rewards for bad behavior. Hence why I get pissed when leftists and protectionists 1) call it that, and 2) act like repealing it will suddenly create a tidal wave of jobs rushing back in.

The best approach would be to approach the problem as a part of broad based tax reform. By which you would remove most of the deductions, credits, cuts etc for specific companies or industries and then use the savings to slash the overal corporate tax rate.

The next best approach would be to take a fine tooth comb to the tax language in question, get rid of what is uneeded and then tighten the language on what you want to keep.

The end result is you will save a few billion tax dollars which I am all for and the principle of the thing (not rewarding bad behavior) would be upheld. But little else would be achieved beyond that. Except of course, scare the wits out of private capital which inevitably happens everytime politicians get out their crayons and start playing with the tax code.

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Southern Senator North Carolina Yankee
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« Reply #28 on: August 03, 2010, 03:24:38 PM »

A week later....



I didn't realise that I murdered everyone in the room. Oh well, spilled milk as they say.
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Bacon King
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« Reply #29 on: August 04, 2010, 09:13:10 AM »

Well, was that amendment going to get actually offered/worked out, or not?
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Badger
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« Reply #30 on: August 04, 2010, 12:21:14 PM »

I've heard nothing.
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Marokai Backbeat
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« Reply #31 on: August 04, 2010, 03:37:40 PM »

Well, was that amendment going to get actually offered/worked out, or not?

I'd be interested in working on it myself, but I'd hate to overstep my boundaries. Separation of powers, afterall. Don't want to step on any Senate toes. Wink
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Bacon King
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« Reply #32 on: August 12, 2010, 03:09:30 PM »

Lol, well, I guess let's have a final vote here! Senators, vote aye, nay, or abstain.
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Franzl
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« Reply #33 on: August 12, 2010, 03:10:40 PM »

Nay
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Bacon King
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« Reply #34 on: August 12, 2010, 03:10:56 PM »

nay
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Southern Senator North Carolina Yankee
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« Reply #35 on: August 12, 2010, 05:06:09 PM »

We kind of needed the budget process in place to really do anything substantial. I have some and am currently working on other pieces of legislation of varying scope and size that are really on hold till that is complete.


So Nay.
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Badger
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« Reply #36 on: August 12, 2010, 05:57:38 PM »

abstain
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#CriminalizeSobriety
Dallasfan65
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« Reply #37 on: August 13, 2010, 05:23:55 PM »

Abstain.
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Bacon King
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« Reply #38 on: August 13, 2010, 07:48:08 PM »

Three nays, two abstentions so far.

Two more votes to fail...
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k-onmmunist
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« Reply #39 on: August 14, 2010, 04:12:48 AM »

The DoI supports this bill.
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Hans-im-Glück
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« Reply #40 on: August 19, 2010, 05:31:20 AM »

AYE
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Bacon King
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« Reply #41 on: August 19, 2010, 12:03:21 PM »

1 aye, 3 nays, 2 abstentions, 4 left to vote...

The voting time expires in just over three hours, by the way.
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k-onmmunist
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« Reply #42 on: August 20, 2010, 01:29:37 PM »

Can't you extend it?
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Bacon King
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« Reply #43 on: August 20, 2010, 09:43:02 PM »


A Senator can, but I don't see the point here. And since none did so anyway, this bill has now failed.
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