Ireland Beware... Obamanomics Ahead

derry

lyda wrote: »

I am a US citizen. I work for a US multi-national. I knew full-well that a President Obama would start to encourage US companies to create US jobs - and part of that would include penalizing them for creating jobs overseas.

I happily cast my ballot for Barack Obama and I was proud to do it then. I am even more happy with my vote now and I hope to do it again in 2012.

As it happens the US multi-national I work for has an office here for very legitimate reasons. There are companies that are "overseas" where they have minimal staff and it's really US citizens/residents doing all the work - it's just the profits aren't seen as US based. There are also companies that have staff overseas that do all their work with American customers. Those jobs could just as easily be done in America. And in my mind should be.

The flip side is what Ireland should do (and should have done) - encourage and invest in local companies. The US government and state governments make substantial investments in small businesses and startups. Providing access to loans, helping with various aspects of starting a business, tax breaks, etc. Things the Irish government does not do to the same level.

As I am also an Irish citizen and have an interest in where my tax Euros go, I hope to see more of that in the future. Depending on multi-nationals by playing silly games with low corporate tax rates is a long-term losing proposition.

bannaa split logic either your all USA or your all Irish???

The realty is the USA will never make this type of drastic taxxing of the Corperations that untouchable in the Corperate USA economic model.

Part two of this show .....
http://gcnlive.com/Archives2009/jun09/SecretTruth/0627092.mp3 ......explains how the CAFR scam works and how the corperate USA can make gazzilions from sloshing hidden money all around the globe .

There is no way that the USA or Obama will ever tinker with such a golden goose forgien investment return scam as this .

For ROI it is darn right stupid to have 60% of the forgien investment from the USA inn the long run as most of that investment will probably go to even lowwer tax places or switch to lowwer paying slave labour economies like China

Obama is only making sweet cooing politic noises to keep the dip sticks public in the USA on board as he steals them stupid and exports even more jobs abroad so that the USA government can impose 80% tax levels on joe soaps in the USA:eek:

Unfortunatly the EU once the Lisbon comes in will also run similar tax scams as the CAFR and this will require all the jobs in the EU to be exported out of the EU.Then the EU will demand the workers all work for low wages such as polish minumim wages or similar low wages while still keeping the cost of living higher more like the richer germany cost of living . Then with the new unlected EU president that comes from the lisbon treaty we can expect that president to make similar political noises about how they will tax the corpetions for exporting jobs.:eek:


One thing most USA joe soap peole dont know that unlike most countries in the world the USA citizn has still to declare and pay tax to the USA even when they work and live outside the USA, even for monies earned abroad.The taxxes they pay then go to the private bank called the Federal reserve which then money scams the money to places outside the USA as fast as possible .However the USA corperates are not taxxed like tthe joe soaps they get lightly taxxed or not taxxed often . The privatly owned Federal bank of the USA probably mostly owned by the european royalty and corperations like Mercedez and FIAT dont get taxxed on incomes in the USA or outside the USA.These corperations who probably own most of the Federal Reserve Bank of the USA are not intending to bring the cash they steal from the USA to Europe where they might run a risk of getting taxxed on the funds . As a result those funds are lost to the USA as taxxable incomes and also to the EU who aid and abiet these offshore thiefs to asset strip both the USA and Europe .this asset stipping is making the populations of both places poorer and ramping up even more taxxes on them , while all the time making the elites of the USA and Europe richerer and richer and scaling down the taxxes the rich might risk to pay

So you got two choices more savage taxxes even sooner in the Lisbon EU which will include ROI or more savage taxxes in the USA as quck as they can get the taxxes ramped up


for others interested in CAFR there are some good youtube vidios out there

http://video.google.com/videoplay?docid=6703413885850200097


Derry

ChocolateSauce

Pocono Joe wrote: »

Well it was only a matter of time... today Obama proposed raising taxes on the overseas profits of U.S. companies, and to go after evaders who abuse offshore tax shelters.

Obama complained that existing law makes it possible to "pay lower taxes if you create a job in Bangalore, India, than if you create one in Buffalo, New York. "

Under his plan, companies would not be able to write off domestic expenses for generating profits abroad. The goal is to reduce the incentive for U.S. companies to base all or part of their operations in other countries.

And since John McCain touted Ireland and their low tax rate during the election, I fear you might be screwed. So if you live in Ireland and work for a US company, or a subsidiary of one, you better get your resume updated.

It will be a tough sell to get through congress, but it does show where the mind of the BO is heading.

I fully support these measures. Just because it is good for us that these tax breaks exist doesn't make them good. For every job and penny that we get due to these laws there are people somewhere else losing out. We would surely be sore if Irish jobs were going over seas due to avoidable tax breaks. It will mean hardship for us, but it also forces us to rise to the challenge.

Reindeer

Obama, originally from Offaly....sure.