Thom Hartmann: How can republicans continue to defend corporate tax cheating?

[thomhartmann]

Run time: 10:21 https://www.youtube.com/watch?v=yEIqAH2hSY4   Posted on YouTube: May 06, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: May 06, 2009 By DU Member: thomhartmann Views on DU: 1193

 
Visit Thom Hartmann at http://www.thomhartmann.com to listen live, join the community or purchase a podcast.

[ProfessorPlum]

1. K&R - wow, great segment. First of all, that guy had nothing.

All he could do was sputter about "competitiveness" and you showed how that argument made no sense, so great job with that.

The scales have fallen from my eyes - I didn't realize that manufacturing something in China wasn't just a rush for cheap labor - but is primarily a tax dodge! The way you've described it, it makes total sense now - they can hide almost all of their profits from taxation. Crap! No wonder jobs are pouring overseas - companies don't just save on labor costs, they never have to post a profit ever again, and can just sit back and reap the rewards. Damn, what a horrible, immoral, job-killing scheme. And to boot, we get Chinese manufacturing and all of the quality/safety issues that implies (no offense to the Chinese, but there is a reason beyond just labor costs as to why their products are so cheap).

Holy crap. Thanks, Thom.

[jfkraus]

2. When does anything republicans do make sense?

[Psychic Consortium]

3. The exploitation and enslavement of the American people are coming to an end.

The corporate oligarchy is not happy.
They know Obama has their number.

[navarth]

4. kick for Thom

[Left Coast2020]

5. I hope he's right on the point of taxing/tariff? to encourage companies

manafacture here. Its simply unAmerican to send jobs overseas and flip the middle finger to the American worker. Its truly an insult.

[florida08]

6. everyday

I find out more and more how screwed we've been and continue to be. My dad RIP would have a heart attack today.

Why do U.S. companies relocate their plants overseas, thereby abolishing U.S. jobs?

a. They can hire workers at very low wages (such as 30 cents an hour in China.)

b. The companies don't have to pay any employee benefits.

c. They don't have to comply with safety and environmental regulations.

d. They don't have to pay foreign taxes when they export their products back to us.

Foreign governments also tax corporations, but if the company exports its products to the United States, or other countries, the foreign government rebates (forgives) the tax. That creates an irresistible magnet to attract U.S. companies to transfer their plants to a land where they can avoid most of both countries' taxes.

When a U.S. product, such as an automobile, arrives at another country's port, the foreign government slaps on a VAT import tax that is a percentage of the price of the U.S. product, the transportation cost to get it to the foreign country, and the tariff that the foreign country charges.

For 40 years, the United States has been signing trade agreements that were supposed to reduce or eliminate tariffs and thereby promote free trade. European countries sanctimoniously proclaim that they are reducing their tariffs, but in fact they replaced their tariffs with a steadily increasing VAT.

[tailspin17]

7. I don't like it...

..but I understand.

1. When we hire people, it's a lot cheaper to hire more educated, motivated people overseas, and sometimes easier to find. (anecdotally, I have had 2 job postings up for Web Developers that paid >$85k that I was not getting qualified candidates for...and this posting was up for 5 months before we found someone. The job market's not so bad. The workers are....)

2. Lots of foreign companies do business here that hire American workers. Lots.

3. Tax Cheats...come on . Can't we admit that Geithner cheated and there is a tinge of hypocrisy here...?

[ProfessorPlum]

8. just as far as #3 goes, I think there is a difference in scale, if nothing else

like thousands versus tens of billions. Also a difference in degree, as in paying most but not all versus paying literally nothing. Also a difference in kind, as in Geithner actually paid his back taxes versus the corporations which will never give in and fight tooth and nail to impoverish the country. So, I don't think the situations are at all parallel.

And finally, it would only be hypocrisy if Obama hadn't paid his taxes.

Welcome to DU

[ProfessorPlum]

9. As far as #2 goes, I don't think it has anything at all to do with the topic.

Does it?

[ProfessorPlum]

10. As far as #1 goes, the plural of anecdote is not data. The actual numbers

that are being collected on the job market suggest that it is actually "so bad".

As far as the workers being bad goes, I'm sure you support vigorous funding for public education to change that.

[DearAbby]

11. They have them brainwashed

someday they could achieve the dream of being wealthy and accepted into their ranks? What?

[Quantess]

12. That was informative.

Too late to recommend.

[avaistheone1]

13. ...because Republicans hate America.

They have no problem cheating the country.