Ginni whining about the taxes code in the US not being competitive. Just like her hero Donald, constantly repeating the lie that corporations pay 35%. Well they don't, the effective rate after all of their loopholes and accounting tricks are employed. I don't think IBM has paid any federal tax in a while. It's all a big scam on the working people.
https://www.cbsnews.com/videos/ibm-ceo-ginni-rometty-tax-code-is-uncompetitive-and-out-of-date/
Non-Fox News, Progressive, Democrat here. Ginny is right on this one. Corporate taxes are too high the US. It's a double tax anyway. Shift corporate taxes to capital gains taxes on non-retirement income and you'll recoup the losses from corporate taxes.
So the listed articles, all by respected publications (and thousands more) are all false? Taxes obviously aren't hurting corporations here too much - we've been on an eight-year bull run, executive/CEO compensation has been through the roof, as well as profits, shareholder returns and dividends. The only ones getting screwed are the workers. No trickle-down happening here. Same old con game, going back to the start of the era of greed with Reagan. If tax rates go down, execs will just find new ways to hoard the money overseas or elsewhere, mainly in their own pockets. We are the greatest country in the world, which has made success possible. The rich and corps should pay their taxes and stop whining about not being rich enough.
Nonsense. Corporations pay massive amounts of property, payroll and excise taxes and earnings are taxed both when earned and distributed as income via dividends. What they are doing is changing their tax domiciles to lower taxed countries for INCOME tax purposes. If our corporate rates were more in line with Sweden, Britain, etc there would be no need or advantage to shift earnings overseas.
We need to dump the freebies and tax shelters, simplify the code and dramatically lower rates.
By the way, I am a CPA and I don't watch Fox News.
Yep, that's why nobody gets raises and Ginni gets $33 million for driving the company into the ground. The corp is paying too much taxes. Right. Whoever believes that is getting played big-time. IBM's tax rate is always between zero and 7%. I wouldn't mind paying that! Check the quarterly numbers, they don't lie. Even the profitable companies don't pay. They shelter the money overseas that would put them over the line after the shelters are gone here.
You're being brainwashed by fox news. That's the company line but not true:
https://www.usatoday.com/story/money/markets/2016/03/07/27-giant-profitable-companies-paid-no-taxes/81399094/#
https://www.bloomberg.com/news/articles/2017-03-10/ten-things-to-know-about-companies-that-don-t-pay-taxes
https://www.nytimes.com/2017/03/09/business/economy/corporate-tax-report.html?mcubz=3
I can't stand Ginny, but, corporate tax rates in the U.S. are high. Companies are shifting earnings overseas to pay lower rates and leaving earnings overseas. DemoCrats are busy playing class warfare while we miss out on hundreds of billions in tax revenues. Educate yourself on the issue and you will "get it".