I think is what you are referring to. If they tie it to US citizens, US workers I imagine they will scream for anything that puts US workers first they fight tooth and nail, no matter how small. So, silence from the US Chamber of Commerce does mean bad news.
They have lost it on a proposal to give a 1% tax incentive to companies to create jobs in the United States. They have lobbied against a minor guest worker fee increase to fund science college scholarships....
anything, no matter how trivial if it puts US workers as the benefactor, they will spend millions fighting it.
Alarmingly, the CBO shows Medicare rising to almost 35 percent of GDP. When IBM envisions its Global Collaberation, so much of that Big Brother monitoring of all of us will be medical devices. We can be sure that tech will fill the void in medical care we see already. Assembly line medicine will become the norm to the point where no medical provider is contacted except during life and death emergencies, and then for the wealthiest patients.
Reading the CBO report, outlays on Social Security remain constant for the next 30 years. A quiet remark in the report assumes that immigration levels will be high for young immigrants. If waves of young immigrants materialize as expected, why will the dollar contribution remain high when wages are so low and dropping?
The answer lies in the expected population increases. CBO has bought the line that waves of new immigrants are needed to buoy the economy and pay the Social Security benefits of the Baby Boomers and Gen-Xers.
I sent a copy of INDIREFI to Senate Committees first. If they screw up the loans to the auto industry, it will be deliberate. When Lutz spoke, Congress had a clue of what they could do in a sensible way before Lutz started to talk.
I am still waiting for the Free Traders, Business Roundtable, and the rest of the Economic Surrender Lobby to start screaming. They are very quiet so far, too quiet.
We're saying, "hey man, ya gotta tie those loans to American jobs, good paying jobs, union jobs". None of this $14/hr to start in advanced skills and manufacturing, no benefits crap. Real wages. Then, I think we're also saying, "you shits" you are making polluting, gas guzzling auto sales in India and China and you managed to scrape together $1B to build a factory in India. You're selling those cars for next to nothing so perhaps that's why you lost $15.5B in a quarter?
The biggest thing is they have to invest in the US, the jobs are in the US and we export the cars to India....we don't help fund them manufacture in India when they can't get it together to invest in the U.S.
Little different.
But, in the veiled Obama speech it sure sounds like Dems are going to give them the money, no real strings, guarantees and most importantly US jobs for US citizens...attached.
I'm fairly shocked that both parties are running the "lower taxes" mantra as if the tax code is the only economic tool available. But then, this is one massive public relations war versus policy.
There is more to the story than just wages. They can play not only in essence, making profits by manipulating domestic currencies, inflation rates and so on but also reduce their gross profits by keeping money offshore.
Lutz has heard and memorized the lines of our song. But watch how the lyrics change. Lutz is in charge of the Plug-In Hybrid and sees the opportunity to borrow when GM is down and hurting. The instinct is good and the project is worthy but the devil is in the details of how the borrowing goes.
Do we tie borrowing to U.S. plant and equipment assets as we argued, or will GM get no strings loans from congress and presidential candidates falling over themselves during an election year?
In fact, you can say that lowering tax rates may even cause labor arbitrage. The government signals by drops in the corporate rates that no one cares about off-shoring jobs and shuttering factories.
The idea behind this protracted story is that McCain and Obama are about to tell the Big Lie: just lower the rates and the economy will get better. Let us go on record to say why history shows that lowering rates is a fraud and worse.
Carly Fiorina has been doing a media blitz to get the CNBCs of the world to buy into her Con Game. Fiorina has told CNBC that lowering tax rates was what drew HP to Ireland - not lower wages.
Actually corporate taxes make are about 1.5 to 2 percent of Gross Sales. Wages are 60 to 70 percent of Sales. So when HP moved to Ireland, guess why Fiorina did it.
But Palmisano moving production to China was much worse.
The problem with corporate tax rates is there are so many deductions, write offs. Then the real problem is with these trade agreements, corporations can move capital easily around the globe from subsidiary to subsidiary to take advantage of exchange rates and PPP of national currencies.
So, honestly I don't even know if the tax code can have that much effect against super cheap labor.
That said, what is the history of actual corporate taxes paid, as a percentage of gross?
Regions Bank of Birmingham, Ala., is assuming all of Integrity Bank’s $974 million in insured and uninsured deposits in 23,000 accounts, and about $34.4 million of the bank’s $1.1 billion in assets.
The remainder of Integrity’s assets are being retained by the Federal Deposit Insurance Corporation. The agency said it estimated that Integrity’s failure would cost its deposit insurance fund $250 million to $350 million
I sure hope that is an accurate estimate on the cost.
I'm so used to seeing Billion, even with a bank failure announcement the quantity million is a relief.
He beat him in the primary votes though. We want representatives representing their constituents and the country so odds are all of our picks will not necessarily be a shoe in. Why we need to give them some PR.
As I understand it, India is extremely protectionist themselves:
> For now, India's protectionist regulations give homegrown companies like Pantaloon Retail, RPG Retail and now Reliance Retail a head start. But there is political opposition to opening the retail sector to foreign investment, with fears that overseas competition would lead to job losses and drive smaller domestic operations out of business.
> British companies, especially distillers, supermarket retailers and financial and legal services companies, have found Indian bureaucracy and protectionism a formidable opponent.
Since the Korean War and Excess Profits Taxes on Corporations, Top Corporate Rates have fallen steadily. The U.S. has no Value Added tax, like Europe. VAT can be as much as 30 Percent and at least 15 Percent. VAT and Corporation Taxes are social taxes on production by society. The current effective rate on corporations is just over 20 percent. 38 percent of companies pay no tax at all, or get hit with the corporate Alternative Minimum Tax of 20 percent. So when we see the 35 percent sticker price (top rate) quoted, remember that hardly anyone pays 35 percent. So what did we get for cutting corporate rates for 50 years? Manufacturing jobs fell from almost 30 percent of all jobs to less than 10 per cent of the job base.
In the last 8 years we see falling income with the middle class.
So when any candidate at any level proposes Corporate Rate Cuts, please ask for any proof that rate cuts do any good.
Until Taxable Inc Max Rate (%)
Year
1946 50000 53
1950 25000 42
1951 25000 50.75 (1)
1967 25000 48 (2)
1968 25000 52.8
1970 25000 49.2
1974 25000 48
1979 100000 46
1981 100000 46
1983 100000 46
1986 1405000 46
1987 1405000 40
1993 335000 34
2004 18333333 35 (3)
(1) sum of income and excess profits taxes was capped t a given percentage of income (from 62% to 70%)
(2) Rates include the Vietnam War surcharge of 10 percent.
(3) AMT Rate Set at 20% - IRS Reports 38 Percent of Corps pay No Tax Actual Max is 35 Percent
$500B so far in write offs. But the write offs are not what the FDIC has to insure when a bank fails. There is still a huge percentage of assets.
For example, on the IndyMac failure, FDIC est. at $8.9B. Their total assets at the time of failure are: $32.01B and total deposits of $19.06B.
So, when they say write downs it's not the same as what the FDIC has to insure.
Note, to reply to someone else, you need to hit the reply button versus just post a comment. The comments are threaded and your reply will not show up in the tracking system unless you specifically his the reply button below all comments.
Roubini repeated the $1.5 Trillion. The original number was a calculation of an estimate of default based upon 7 percent of the value of all mortgages outstanding.
Who really knows what that number is. It's a guess. Markets love to hear outside estimates so they can put a number on something an go on to other destructive actions.
Advocates of lowering the Nominal Top Corporate Rate and some other rates for Small Business are quick to point out that the U.S. nomimal rates are among the highest in the O.E.C.D. This analysis is flawed because almost no U.S. companies pay the nominal rate - 38 percent pay nothing according to the IRS. Factor in the non-payers and we have an effective rate of 20 percent. Near the bottom of O.E.C.D.
Twenty Percent is the threshold for the Alternative Minimum Tax, and by co-incidence the historical average for 100 years. (Wall Street Journal 1995).
Looking at just corporate rates is tunnel-vision. The bigger question is social taxation. If corporations pay tax then all who trade with corporations must in some way pay the taxes the corporation pays, or the corporation is weak in terms of it's pricing muscle. But there is another tax in the mix:VAT. Europeans pay as much as 30 percent VATs and the average is close to 15 percent.
VAT is a tax on production added value. Everybody who trades with a VAT payer domestically, must pay the VAT. The U.S. has no VAT and VAT is very much a social tax.
Subtract the Fifteen percent from the U.S. average rate of and U.S. corporations are paying nothing compared to European nations.
Next Topic - throw Labor Arbitrage into the Tax Discussion
and look at Manufacturing Jobs over 50 years.
I think is what you are referring to. If they tie it to US citizens, US workers I imagine they will scream for anything that puts US workers first they fight tooth and nail, no matter how small. So, silence from the US Chamber of Commerce does mean bad news.
They have lost it on a proposal to give a 1% tax incentive to companies to create jobs in the United States. They have lobbied against a minor guest worker fee increase to fund science college scholarships....
anything, no matter how trivial if it puts US workers as the benefactor, they will spend millions fighting it.
Alarmingly, the CBO shows Medicare rising to almost 35 percent of GDP. When IBM envisions its Global Collaberation, so much of that Big Brother monitoring of all of us will be medical devices. We can be sure that tech will fill the void in medical care we see already. Assembly line medicine will become the norm to the point where no medical provider is contacted except during life and death emergencies, and then for the wealthiest patients.
Reading the CBO report, outlays on Social Security remain constant for the next 30 years. A quiet remark in the report assumes that immigration levels will be high for young immigrants. If waves of young immigrants materialize as expected, why will the dollar contribution remain high when wages are so low and dropping?
http://www.cbo.gov/doc.cfm?index=8877
The answer lies in the expected population increases. CBO has bought the line that waves of new immigrants are needed to buoy the economy and pay the Social Security benefits of the Baby Boomers and Gen-Xers.
I sent a copy of INDIREFI to Senate Committees first. If they screw up the loans to the auto industry, it will be deliberate. When Lutz spoke, Congress had a clue of what they could do in a sensible way before Lutz started to talk.
I am still waiting for the Free Traders, Business Roundtable, and the rest of the Economic Surrender Lobby to start screaming. They are very quiet so far, too quiet.
Yep, thats like counting ketchup as a vegetable for school lunches, or counting making hamburgers as manufacturing
Orwell would be rolling in his grave
Consumer spending increased. Spin of the spin.
We're saying, "hey man, ya gotta tie those loans to American jobs, good paying jobs, union jobs". None of this $14/hr to start in advanced skills and manufacturing, no benefits crap. Real wages. Then, I think we're also saying, "you shits" you are making polluting, gas guzzling auto sales in India and China and you managed to scrape together $1B to build a factory in India. You're selling those cars for next to nothing so perhaps that's why you lost $15.5B in a quarter?
The biggest thing is they have to invest in the US, the jobs are in the US and we export the cars to India....we don't help fund them manufacture in India when they can't get it together to invest in the U.S.
Little different.
But, in the veiled Obama speech it sure sounds like Dems are going to give them the money, no real strings, guarantees and most importantly US jobs for US citizens...attached.
I'm fairly shocked that both parties are running the "lower taxes" mantra as if the tax code is the only economic tool available. But then, this is one massive public relations war versus policy.
There is more to the story than just wages. They can play not only in essence, making profits by manipulating domestic currencies, inflation rates and so on but also reduce their gross profits by keeping money offshore.
Lutz has heard and memorized the lines of our song. But watch how the lyrics change. Lutz is in charge of the Plug-In Hybrid and sees the opportunity to borrow when GM is down and hurting. The instinct is good and the project is worthy but the devil is in the details of how the borrowing goes.
Do we tie borrowing to U.S. plant and equipment assets as we argued, or will GM get no strings loans from congress and presidential candidates falling over themselves during an election year?
Maybe we are changing the conversation.
http://www.nytimes.com/2008/08/29/business/29lutz.html?_r=1&scp=1&sq=Lut...
In fact, you can say that lowering tax rates may even cause labor arbitrage. The government signals by drops in the corporate rates that no one cares about off-shoring jobs and shuttering factories.
The idea behind this protracted story is that McCain and Obama are about to tell the Big Lie: just lower the rates and the economy will get better. Let us go on record to say why history shows that lowering rates is a fraud and worse.
Carly Fiorina has been doing a media blitz to get the CNBCs of the world to buy into her Con Game. Fiorina has told CNBC that lowering tax rates was what drew HP to Ireland - not lower wages.
Actually corporate taxes make are about 1.5 to 2 percent of Gross Sales. Wages are 60 to 70 percent of Sales. So when HP moved to Ireland, guess why Fiorina did it.
But Palmisano moving production to China was much worse.
The problem with corporate tax rates is there are so many deductions, write offs. Then the real problem is with these trade agreements, corporations can move capital easily around the globe from subsidiary to subsidiary to take advantage of exchange rates and PPP of national currencies.
So, honestly I don't even know if the tax code can have that much effect against super cheap labor.
That said, what is the history of actual corporate taxes paid, as a percentage of gross?
Real Estate Lender Integrity Bank has failed.
I sure hope that is an accurate estimate on the cost.
I'm so used to seeing Billion, even with a bank failure announcement the quantity million is a relief.
He beat him in the primary votes though. We want representatives representing their constituents and the country so odds are all of our picks will not necessarily be a shoe in. Why we need to give them some PR.
As I understand it, India is extremely protectionist themselves:
> For now, India's protectionist regulations give homegrown companies like Pantaloon Retail, RPG Retail and now Reliance Retail a head start. But there is political opposition to opening the retail sector to foreign investment, with fears that overseas competition would lead to job losses and drive smaller domestic operations out of business.
iht article.
> British companies, especially distillers, supermarket retailers and financial and legal services companies, have found Indian bureaucracy and protectionism a formidable opponent.
timesonline
Go to google, type in: "Indian protectionism" with no quotes, and read as much about it as you want.
sadly - he is going up against popular and well funded neo-conservative Mike Pence in the reddest of the red states run by Bush crony Mitch Daniels
He needs all the help he can get
Since the Korean War and Excess Profits Taxes on Corporations, Top Corporate Rates have fallen steadily. The U.S. has no Value Added tax, like Europe. VAT can be as much as 30 Percent and at least 15 Percent. VAT and Corporation Taxes are social taxes on production by society. The current effective rate on corporations is just over 20 percent. 38 percent of companies pay no tax at all, or get hit with the corporate Alternative Minimum Tax of 20 percent. So when we see the 35 percent sticker price (top rate) quoted, remember that hardly anyone pays 35 percent. So what did we get for cutting corporate rates for 50 years? Manufacturing jobs fell from almost 30 percent of all jobs to less than 10 per cent of the job base.
In the last 8 years we see falling income with the middle class.
So when any candidate at any level proposes Corporate Rate Cuts, please ask for any proof that rate cuts do any good.
Until Taxable Inc Max Rate (%)
Year
1946 50000 53
1950 25000 42
1951 25000 50.75 (1)
1967 25000 48 (2)
1968 25000 52.8
1970 25000 49.2
1974 25000 48
1979 100000 46
1981 100000 46
1983 100000 46
1986 1405000 46
1987 1405000 40
1993 335000 34
2004 18333333 35 (3)
(1) sum of income and excess profits taxes was capped t a given percentage of income (from 62% to 70%)
(2) Rates include the Vietnam War surcharge of 10 percent.
(3) AMT Rate Set at 20% - IRS Reports 38 Percent of Corps pay No Tax Actual Max is 35 Percent
$500B so far in write offs. But the write offs are not what the FDIC has to insure when a bank fails. There is still a huge percentage of assets.
For example, on the IndyMac failure, FDIC est. at $8.9B. Their total assets at the time of failure are: $32.01B and total deposits of $19.06B.
So, when they say write downs it's not the same as what the FDIC has to insure.
Note, to reply to someone else, you need to hit the reply button versus just post a comment. The comments are threaded and your reply will not show up in the tracking system unless you specifically his the reply button below all comments.
Roubini repeated the $1.5 Trillion. The original number was a calculation of an estimate of default based upon 7 percent of the value of all mortgages outstanding.
Who really knows what that number is. It's a guess. Markets love to hear outside estimates so they can put a number on something an go on to other destructive actions.
when a bank fails there is still a huge percentage of assets left.
It's where they empty the coffee cup that has me worried.
Advocates of lowering the Nominal Top Corporate Rate and some other rates for Small Business are quick to point out that the U.S. nomimal rates are among the highest in the O.E.C.D. This analysis is flawed because almost no U.S. companies pay the nominal rate - 38 percent pay nothing according to the IRS. Factor in the non-payers and we have an effective rate of 20 percent. Near the bottom of O.E.C.D.
Twenty Percent is the threshold for the Alternative Minimum Tax, and by co-incidence the historical average for 100 years. (Wall Street Journal 1995).
Looking at just corporate rates is tunnel-vision. The bigger question is social taxation. If corporations pay tax then all who trade with corporations must in some way pay the taxes the corporation pays, or the corporation is weak in terms of it's pricing muscle. But there is another tax in the mix:VAT. Europeans pay as much as 30 percent VATs and the average is close to 15 percent.
VAT is a tax on production added value. Everybody who trades with a VAT payer domestically, must pay the VAT. The U.S. has no VAT and VAT is very much a social tax.
Subtract the Fifteen percent from the U.S. average rate of and U.S. corporations are paying nothing compared to European nations.
Next Topic - throw Labor Arbitrage into the Tax Discussion
and look at Manufacturing Jobs over 50 years.
Pages