The Soapbox

Joined: 06/03/2005 Posts: 31021
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As a very specific example, Microsoft had $20 billion in foreign

income and a $300 million domestic loss. They reported income tax expense of $3.3 billion for an "effective" rate of 16.5%, but I think it would be a little silly to say microsoft's low effective rate is proof that US rates aren't high. It shows that microsoft is very effective at avoiding the high US rates to end up with a low overall effective rate.

(In response to this post by BocaHoo91)

Posted: 11/16/2017 at 4:47PM

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Current Thread:

Corporate tax cut passes house ** -- TpkeHoo 11/16/2017 1:49PM

Corporate tax cuts, or pass thru, or both? ** -- BocaHoo91 11/16/2017 2:46PM

Better Healthcare passed in the house too -- VaTechie 11/16/2017 2:36PM

Nooooooooooo!!!!! ** -- Hokieesith 11/16/2017 2:07PM

Just a charade designed to cast doubt on Trump's legitimacy. -- WaxHoo 11/16/2017 2:19PM

Enjoy your higher taxes. ** -- Seattle .Hoo 11/16/2017 2:03PM

Someone's gotta pay, right? In my 30 yrs in the workforce, Ive only -- TpkeHoo 11/16/2017 2:56PM

I have no problem with paying taxes. It's the structure of the plan that -- Seattle .Hoo 11/16/2017 3:04PM

Yep...same, but this hay ain't in the barn yet ** -- Tuckahokie 11/16/2017 3:01PM

My taxes will be higher? ** -- BocaHoo91 11/16/2017 2:52PM

Only if you're in the middle class. ** -- Seattle .Hoo 11/16/2017 3:06PM

How so? ** -- BocaHoo91 11/16/2017 3:15PM

We'll wait to see the final. But the bulk of the benefits are for people -- Seattle .Hoo 11/16/2017 3:26PM

Considering that they pay the bulk of the taxes, that makes sense. ** -- Hokie5150 11/16/2017 3:37PM

All the scenarios I saw yielded lower -- BocaHoo91 11/16/2017 3:33PM

If the doubling of the standard deduction is still in there, that would -- Tafkam Hokie 11/16/2017 8:37PM

The problem is they eliminated the personal exemptions. -- BocaHoo91 11/16/2017 8:47PM

Did not realize personal exemptions were being eliminated -- Tafkam Hokie 11/16/2017 8:49PM

Which brings up a related gripe. It is incredibly difficult to get your -- Tafkam Hokie 11/16/2017 8:52PM

Lower taxes until they are phased out in early 2020s... ** -- THECZAR 11/16/2017 4:09PM

OK. So still not worse off, right? ** -- BocaHoo91 11/16/2017 4:36PM

We will enjoy them as much as we did that 2500 premium reduction -- TomKazanski 11/16/2017 2:22PM

And just like 2010, it might cause the majority party to lose the house. ** -- walkthecorner 11/16/2017 2:59PM

I dont think you are picking up what i am laying down -- TomKazanski 11/16/2017 3:23PM

Lying POS. ** -- Seattle .Hoo 11/16/2017 3:42PM

Who is "we"? You and the rest of the Mississippi jizz-moppers union? ** -- WahooRQ 11/16/2017 2:32PM

$1.2 Trillion wealth transfer to the rich passes House.** -- WaxHoo 11/16/2017 2:03PM

Wealth transfer? ** -- BocaHoo91 11/16/2017 2:46PM

Yep. Borrow $15T; saddle our offspring with the debt. Give rich -- WaxHoo 11/16/2017 2:59PM

The $1.2t is being "given" to the rich? -- BocaHoo91 11/16/2017 3:06PM

Debt. Forgiveness. -- WaxHoo 11/16/2017 3:36PM

Because I want corporations incentivized to pay taxes here -- BocaHoo91 11/16/2017 4:35PM

Except when you really get down to it, corporations don't pay taxes, people -- Tafkam Hokie 11/16/2017 8:48PM

I concur wholeheartedly that we want corporations incentivized to pay taxes -- WaxHoo 11/16/2017 6:37PM

But when you have a company like Microsoft -- BocaHoo91 11/16/2017 6:54PM

But its not a for sure thing that that will actually happen. Link inside -- THECZAR 11/16/2017 4:47PM

It's a sure thing that companies will continue to do everything they -- BocaHoo91 11/16/2017 4:54PM

Also, this article disputes your idea that middle class get a tax cut. 1 in -- THECZAR 11/16/2017 4:54PM

In aggregate, the middle class will get a cut. Yes, it's possible -- BocaHoo91 11/16/2017 4:57PM

And graduate students will see their taxes go up 400% -- THECZAR 11/16/2017 8:21PM

I don't necessarily support that provision, but cry me a river. -- BocaHoo91 11/16/2017 8:44PM

They are not the highest in the developed world. -- HowieT3 11/16/2017 3:34PM

They are. The US effective tax rate is not the highest in the -- BocaHoo91 11/16/2017 4:25PM

As a very specific example, Microsoft had $20 billion in foreign -- BocaHoo91 11/16/2017 4:47PM

It kinda fascinates me that some people think wealthy individuals and large -- Tafkam Hokie 11/16/2017 8:57PM

In "Lib-Speak" not taking is the same as giving ** -- Tuckahokie 11/16/2017 3:28PM

Word games ** -- WaxHoo 11/16/2017 3:38PM

I see what you did there. ** -- THECZAR 11/16/2017 1:56PM