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- This piece seemed more like an advertisement for lower corporate taxes. I am disappointed by the reporting here. The American people are finding out how little corporations are giving back to America. Mrs. Stahl could have mentioned tax subsidies and how many corporations don't pay taxes already. The thirty-five percent level is a myth as corporate CEO's hire teams of lawyers to find ways around the tax code.
Coupled with the puff piece Katie Couric did on teachers last week, I'm finding 60 minutes to be slipping it's ability to do real investigative journalism. We seriously need real journalism these days and not advertisements for the wealthy corporate interests. - Reply to this comment
- Okay Pahgre, let's look at manufacturing. According to Dr. Mark Perry's examination of Department of Labor employment data, U.S. manufacturing employment peaked at 19.5 million jobs in 1979. Since 1979, the manufacturing workforce has shrunk by 40 percent, and there's every indication that manufacturing employment will continue to shrink.
Would you agree? - Reply to this comment
- I like the notion to compete with any nation like Ireland and Switzerland to have industry 'stay home.' If Zug, Switzerland, for example, has a tax rate of about 15%, make the U.S.A. rate about 14%. NO MORE LOOPHOLE TAX HAVENS!! Pay the the U.S. tax rate off the top before it is moved out of the country. Stockholders get real. your dividends cannot be at the expense of the economic collapse of our country. End incentives in the tax code that export American cash and stifle job growth. Fire legislators that export American cash.
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- google... PAID RIGHT WING TROLL... mortarman429 fits the profile to a T. he obviously gets paid by the post with all his one liners. get a life, you've been on here for three days now. this cbs not fox
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- Although the report cited Ireland as a magnet for foreign companies because of its low corporate tax rates, it forgot to tell viewers how well, or how poorly, that low-taxation policy had worked for Ireland. From what I understand, that Irish boom had turn into an Irish bust.
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- We can all agree on Tax Reform though right. Lazy Washington has known we have needed that for years. Too many lobbyist control the puppets in congress to get anything done though. I just wish 60 minutes would have come to Bermuda where I live. AIG is here dodging taxes AND getting a huge bail out. They also missed Google which does a trick called the "double Irish" where they use Bermuda and Ireland to dodge taxes.
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- There is a way to cut corporate taxes to 0% and still take care of the poor, the elderly, the sick,the children. It's called the Fair Tax System.
The Fair Tax System would solve a lot of these problems. Did you know that 47% of people in this country don't pay taxes because of loop holes and tax breaks for certain people. By going to the Fair Tax System it would put an end to this.
We just had a big battle in Congress over healthcare, and we were reminded every day by the newscasters that the bill was over 2000 pages long. If it was such a big deal about the healthcare bill being over 2000 pages long, then why aren't they screaming about our tax code, over 60,000 pages long and so confusing that the people who are in charge of it at the "IRS" admit that they don't even understand it, and to make matters worse, if you call the IRS tax help line and ask for professional advice, and they give you the wrong information, which happens a lot, it's you NOT the IRS, who will have to pay any penalties. By going to the Fair Tax system we would get rid of the IRS all together.
There is 60 to 90 billion dollars that moves in the under world every year that isn't taxed. There are billions more that are paid under the table to illegals every year that isn't taxed. Under the Fair Tax system that money would be taxed.
Under the Fair Tax system, if you win a million dollar lottery jackpot you get to keep the whole million dollars. You do not have to give half or more to the IRS. If you have a rich aunt die and leave you a million dollar estate you get to keep all of it. You do not have to give half or more to the IRS. Look at how much they take out of your pay check each month for Federal tax, under the Fair Tax system you get to keep that money.
Get Government out of our private lives. Shrink Government. No more dreaded April 15th tax day. A tax system so simple an 8th grader can understand it and on top of that, a tax system that is fair for everyone. If you haven't read the book then please do so. You can pick up a copy on Amazon or on eBay. - Reply to this comment
- There's going to have to be some major changes, in how governments, world wide, deal with global corporations. The corporations are totally out of control.
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- It was interesting to watch the Chamber of Commerce / Republican spin on corporate taxes. Of course, let us reduce corporate taxes for all international corporations to zero. Why should those who benefit the most from America, pay anything for it. Let us continue the Chamber of Commerce spin. Let us cut all help to the poor, to the elderly, the sick, to the helpless, the children,. Afterall, if you follow the anti-Christ, you should do everything against what Christ said in the Bible. Christ said to give unto Caesar what is Caesars. The Republicans and the Chamber of Commerce tell us to keep what is Caesar's and steal more from the poor, the elderly, the children, the sick, the helpless. Christ said that we must give to help the poor, the elderly, the sick, the children, the helpless. If a corporation wants to be a "foreign" corporation, then encourage them. Deny them defense contracts, deny them government contracts, allow them to pay tariffs on the same percentage of their goods as the percentage of taxes they avoid. The Republicans tell us that we are a Christian nation as they do everything in their power to combat everything Christ told us to do. If the Republicans are that anti-Christ, then what would their idea of a Republican Christian nation be? A third world country run by a few greedy corporate chieftains with their loyal cadre of suck-up politicians, with the peasants offering worship to their executioner.
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- Shame on 60 Minutes for airing what appeared to be a story to support lowering taxes to corporations. Here is what I would say to those corporations if I was President.
If you want to move your corporate identity to a foreign country, go ahead. You will no longer have to pay taxes as before, however, your products will carry a tariff just as they do from other countries when you move US jobs offshore. You will not have access to this economy without it. So go ahead shoot yourself in the foot, loose 50% of your profit overnight.
Corporations want to reduce the middle class workers to mere surfs, serving their masters. Much like those in Ireland mentioned in the piece. They are so desperate for jobs, even at a minimum wage, that they will agree to anything. After a while, because the taxes can not support the infrastructure or the lives of the workers they employ, the government will be forced to recoup their losses and raise taxes. The corporation will then move to the next country that will allow them to exploit their workers. All it takes is the elite/power brokers of that country getting rich off of the transaction.
No amount of tax breaks or incentives provided by the US government will convince corporations to invest in the US, our economy is slow with low return. We have 500 million developed consumers in a stable market of limited growth. Overseas there are 1.5 billion future consumers in emerging markets. That is where they will invest. Lowering the corporate tax rate will not change that fact. - Reply to this comment
