Thursday, April 10, 2014
US Corporations Have Over $2 Trillion Stashed Overseas
http://www.huffingtonpost.com/2014/04/08/profits-overseas-untaxed_n_5114300.html. DUE 14 Apr 2014. Why do corporations say they have money stashed overseas?? Are there other reasons the article lists for this offshore cash? Why is this bad for the US economy? What solutions would you offer to get US corporations to keep more money at home??
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Corporations say that they have money stashed overseas because it is used to invest “strictly abroad”. With this statement it allows these corporations not to pay taxes on the stashes that they have accumulated over the years. The other reason the article listed why the cash is oversea is because they do not have to bring in their of international profits into the US where they will be taxed on. This is bad for our economy because the IRS cannot obtain more income from taxing these profiting corporations. If they were home they would be taxed on, which would be placed back into circulation to maintain a stable economy with spending. But since this is not the case, the IRS can only take money from corporations that are home. The most evident solution ought to be is pass a regulation that permits corporations to only be allowed to stash a certain amount of oversea earnings out of the US. Other than that these corporations are just playing the system by stashing their money elsewhere.
ReplyDeleteCorporations say they have money stashed overseas because under U.S. law, corporations do not have to pay income tax on most of their overseas profits until they are brought into the United States. The reason the article lists for this offshore cash is that these earnings can be held offshore for years if they are classified as indefinitely invested abroad. This is bad for the US economy because the IRS are not making enough income from taxing on all the overseas corporations. The solution I would offer to get US corporations to keep more money at home is for all the corporations to pay income tax on most of their overseas profits before they are brought into the United States.
ReplyDeleteCorporations say they have money stashed overseas because that money is used to invest overseas. the real reason for hiding the money overseas is that they dont have to pay a US income tax on money overseas. This is bad for the US economy because there are no taxes coming in from all that money not located in the US, meaning theyre not making all the money they can be. I say that the US should just tax the big corporations on their total earnings, not just what they keep in the US.
ReplyDeleteThe reason for corporations saying that they have money stashed overseas because it is used to invest abroad. This allows these corporations not to pay taxes on the stored cash that they have kept over the years. The cash is overseas is because they do not have to bring their international profits into the US where they will be taxed. This is bad for our economy because the IRS cannot obtain more income from taxing these profiting corporations. If they were home they would be taxed, which would generate revenue and stimulate the economy. The IRS can only take money from corporations that are within the US. One solution that help would be to give theses businesses incentives to keep their money in American banks, and enact laws that limit and regulate how much money is kept overseas by American corporations or tax them even higher until they bring back.
ReplyDeleteCorporations say that they have money stashed overseas because they use that money to be able to invest abroad. Another critical reason for stashing money overseas is that they do not have to pay as much of an income tax on their profits over there than over here. The reason why this is so bad for the United States' income is that the IRS will not be taking in a profit from the tax because it is overseas. Having the money here in the U.S. means more money for us. My solution to keep the money here in the U.S. would be to give companies tax breaks just so they see that we need their money here. If they lower the taxes on the profits, then more people will be willing to keep the money here, and that means that they will be in contact with more of a profit at the end of the day.
ReplyDeleteCorporations have money stashed overseas because they use that money to invest oversea. They do this so that the Corporations won't have to pay a lot of income taxes on stored cash they have saved for years. This is bad for America's economy because the IRS can't gain more income from taxing these corps. which means that they are not getting the money they should be getting." Some favor killing the law, known as offshore corporate income tax deferral, and some back a one-time tax holiday that would let companies bring foreign profits home, or "repatriate" them, at a low tax rate." Our solution should be taxing their overseas profit and to keep their money at a bank.
ReplyDeleteBig Corporations don't have to pay income taxes on money that is overseas, so some of these corporation don't have to worry about paying taxes about the money that are overseas, This is bad for the economy all these money could really jump start the economy again with the taxes that the corporation should be paying IRS. One solution I have for the US is that they become harder on corporation with money oversea I feel like the USA babies big corporation not giving them stern rules to pay income taxes. They should benefit corporation with money here in the US banks.
ReplyDeleteCorporations say they have money stashed overseas because they do not have to pay income tax on it until it is brought into the US. But also these earnings are classified as indefinitely invested abroad. Overseas earnings have been reinvested in active business operations like manufacturing facilities and loans to non-U.S. customers. This is bad for the US economy because the IRS can not collect the income from this money overseas, until it is brought to the US. This is taking away money to add to help us have a stable economy. It is effecting the economy because if it was being taxed it would add more spending money for us. Some solutions we could offer to get US corporations to keep more money at home would be to limit the amount that they keep overseas. Taxing them if they go over the limit, so that it forces them to keep more money in the US then overseas.
ReplyDeleteCorporations say they have money stashed overseas because they use that money to make investments in other countries. Reasons for keeping money overseas is so that they pay less of an income tax on their profits than if they kept all the money here. This is bad for the US economy because the IRS cannot make money from taxing them because the money is not in the United States. If they keep the money here than the U.S. economy will have more money from taxing it. A solution to get these corporations to keep the money here is to promise a low tax rate on the money just so the IRS will be making something instead of nothing from this money.
ReplyDeleteThe reason why corporations say they have money stashed overseas it because that money that is stashed is only to use in overseas countries and not back in the U.S. . The other reason the article listed why the cash is oversea is because if they bring that money in the U.S. they will be taxed on that money and loose a lot of it. This is bad for our economy because the IRS cannot obtain more income from taxing these profiting corporations. There is one solution and that is for every corporation to get taxed on the stash so it will help the economy grow.
ReplyDeleteWhy corporations have money stashed overseas is because they use that money to invest overseas. This is done so that the Corporations won't have to pay a lot of income taxes on stored cash they have saved for many years.The American economy is suffering because the IRS can't gain more income from taxing these corporations. Which means that they are not getting the income they should. Offshore corporate income tax deferral, and some back a one-time tax holiday that would let companies bring foreign profits home, or "repatriate" them, at a low tax rate." Our solution should be taxing their overseas profit and to keep their money in american bank.
ReplyDeleteCorporations stash money overseas so that they don't have to pay income tax. By doing this it is bad for the United States because the IRS is not receiving income from taxing these corporations. Of course, it is good for the corporations because they don't have to pay. The offshore accounts are not good for the country and they should not be doing that, they're doing this for selfish reasons. If they kept their money in accounts in the country then it would be helping the economy. We should be controlling how much money that these corporations can put in offshore accounts.
ReplyDeleteAccording to the article, the reason corporations are stashing or have stashed their money overseas is because they are supposedly used to reinvest in active operations overseas. The article practically says that is just another loop hole for these large corporations to avoid paying an income tax. This penalizes the US economy because a large amount of corporations are using it as a way to avoid paying income taxes. They store a large portion of their profit overseas and then they don't have to pay a tax on that as it keeps on increasing. To get US corporations to keep more money at home, I would try to do what Wyden has tried. I would try to kill the offshore corporate income tax deferral law and to call for a repatriation holiday.
ReplyDeleteThe reason why corporations stash away money in other countries is because if the money is imported to the us, then the corporations would have to pay income tax. The result of this is a major loss of money for these corporations. I would do the same thing if I was the CEO of the corp. Why would I let the government take my money? Haha, rather have it stashed away for "safe keeping". The end result is its good for the corporation but bad for the US government and the US economy..
ReplyDeleteGiant Corporations have money stashed overseas because they use that money to invest oversea. They do this so that the Corporations won't have to pay a lot of income taxes on stored cash they have saved for years. This is bad for America's economy because the IRS can't gain more income from taxing these corps. which means that they are not getting the money they should be getting." Some favor killing the law, known as offshore corporate income tax deferral, and some back a one-time tax holiday that would let companies bring foreign profits home, or "repatriate" them, at a low tax rate." Our solution should be taxing their overseas profit and to keep their money at a bank.
ReplyDeleteCorporations say they have money stashed overseas because they do not have to claim revenue made outside of the United States on their corporate income taxes. The reasons for these outside stashes are for the corporations to have more money for themselves rather than circulating back into the economy. This is bad for the United States economy because there is a dramastic decrease in circulation of money that is made available to benefit the economy. All these corporations are holding on to income that may actually benefit the government after all. Personally, I would think Congress would devise a strategic approach in limiting the amount that these corporations can keep overseas.
ReplyDeleteThe reason why there are corporations that say that they have money stored overseas is because they say they use it to invest with the money for abroad investments. And with this excuse/statement it allows the corporations to avoid paying taxes on the money that they have saved over the years. Reasons that the article listed on why the money is overseas is basically a way for these business' to avoid being taxed on that money. This is keeping the income that the IRS makes from taxing corporations on their profits low because the money is outside of the USA. I think that the best way to stop this is to create rules on how much money they can transfer/keep overseas which could be like a percentage of their total profits or taxing a certain amount based on the money being transferred overseas.
ReplyDeleteCorporations say that they have money stashed overseas because under U.S. law, corporations are not required to pay income taxes on most of their overseas profits until they are brought into the U.S. However, this is bad for our economy because the IRS cannot accumulate any more income from taxing these profiting corporations.The IRS can only take money from corporations that are within the US. I would offer alternative incentives, or benefits. Or the U.S. should just tax corporations on their total earnings as a whole, as opposed to those earnings kept within the U.S.
ReplyDeleteThe reason why there are corporations that say that they have money stored overseas is because they say they use it to invest with the money for abroad investments. However, this is bad for our economy because the IRS cannot accumulate any more income from taxing these profiting corporations. All these corporations are holding on to income that may actually benefit the government after all. Personally, I would think Congress would devise a strategic approach in limiting the amount that these corporations can keep overseas. Our solution should be taxing their overseas profit and to keep their money at a bank.
ReplyDeleteCorporations say they have money stashed overseas because under U.S. law, corporations do not have to pay income tax on most of their overseas profits until they are brought into the United States. Yes, there other reasons the article lists for this offshore cash. The reasons are that the Corporations won't have to pay a lot of income taxes on stored cash that they have been saving for years. This is bad for the US economy because the IRS cannot make money from taxing them because the money is not in the United States. Some solutions that I would offer to get US corporations to keep more money at home are that the USA should tax corporations based on their total earnings in general but not just the earnings that they keep in the US.
ReplyDeleteThe corporations say that they have money stashed overseas because they have money that they can invest overseas.The other reasons the article list the offshore cash because the corporations don't have to pay taxes on money that is overseas. It is bad for the economy because that money could help boost the economy. The taxes that the corporations should be paying to the IRS, would have been put back into the economy's circulation. A solution for this, that they should pass a regulation that permits the corporations to stash a certain amount of the oversea earnings. The corporations are not contributing to the economy completely due to them selfishly gaining for their own benefits, not caring to aid the suffering economy.
ReplyDeleteCorporations say that they have money stashed overseas because they don't have to pay income tax on most of their overseas profits until they are brought into the U.S. The United States has the highest corporate tax rate in the world and many corporations don't want to pay the high rates. This is bad for the U.S economy because it is taking tax money away from the U.S; attempts have been made to try too allow businesses to return the cash to the U.S at a lowered tax rate, but even this would still be a significantly lower amount then the 35% required by law. I believe that removing the offshore corporate income tax deferral completely would be the only practical way to stop the large amounts of cash from staying outside of the country.
ReplyDeleteCorporations say they have money stashed overseas so that they can use that money to make trades/investments in other countries or regions that are away from them. The reasons the article states for this offshore cash is that they pay a minimum amount of income tax on their profits. This is bad for the US economy because if they keep the money there the economy will have a greater amount of money from taxing it and basically this leads to a higher income because of the taxes. A solution for the US to get corporations to keep more money at home is to lower the tax rate so the IRS can gain something beneficial from it.
ReplyDeleteCorporations say that they have money stashed overseas because they don't have to pay income tax on most of their overseas profits until they are brought into the U.S. This is bad for the US economy because the IRS cannot make money from taxing them because the money is not in the United States. The solution I would offer to get US corporations to keep more money at home is for all the corporations to pay income tax on most of their overseas profits before they are brought into the United States.
ReplyDeleteCorporations have money stashed overseas to invest and trade overseas avoiding certain laws, restrictions, and taxation. This is referenced in article because you get a insight on how many large corporation owners pay basically no taxes, just a lot of revenue. A solution I can suggest to create a more stern standard of laws to corporation in a higher tax bracket, because they should be held accountable for their actions.
ReplyDeleteSimply put, corporation claim they stash money overseas for the purpose of investing. However, it is strongly implied that the reason is to avoid taxation and thus have a more equitable place to store their money. To prevent this laws/regulations could be made that only allow a fair percentage of a corporations total equity be stored in other countries. Another way is to simply give incentives to those who keep most of their money in the U.S.
ReplyDeletecorporations have money stashed over seas to avoid taxes. These earnings can be held offshore for years if they are classified as indefinitely invested abroad. This is bad for the US economy because income taxes from these money overseas can't be taxed until it is brought to the US. which isn't helping our economy at all. we need to tax all the money overseas because it will help our economy tremendously. a solution i would you offer to get US corporations to keep more money at home would be to tax those who keep money overseas. if not to at least limit the amount of money to be kept overseas and if they go over the limit to tax them. these are only some of the things that would help our economy.
ReplyDeleteCorporations stash their money overseas because it allows them to avoid having that money taxed. This allows the companies to pay minimum income tax on the money because it is being "invested" overseas. This is bad for the economy because there are less taxes going to the government. To keep more money at home, I would suggest either paying income taxes on the money stored overseas or when corporations bring the money over, to increase the taxes then.
ReplyDeleteThey put there money overseas claiming that they are making investments overseas. The true reason there money is overseas is because they want to avoid paying taxes. It is bad for the economy because it raises the prices of things becuase the government can't control how much money is actually available. The money that they made in this country would have been taxed for the greater benefit of the economy rather than for the greedy person. Even if they were investing in foreign affairs it would still hurt the economy because the money wouldn't be circulating in our economy. We could either lessen their tax depending on if they invest on local business. There is not much that can be done because we protect peoples rights. We would be going against the purpose of this country if we took the money the wrong way.
ReplyDeleteUS corporations have money stashed overseas because the corporations want to avoid paying taxes to the bank that holds onto their money. This is detrimental to the economy because there is less money in the economy and could cause inflation because the government doesn't actually know how much money is really out there. I would say that instead of pretending to be investing in companies overseas, coraporations should actually invest in other companies here in the US.
ReplyDeleteCorporations keep large stashs of money over seas so they can avoid paying taxes on that money. They say that the money Is used for investing abroad, but in reality its just a loophole to store money without paying for it. This is bad for our economy because money that is being earned in the us is not being taxed. And even if these corporations are investing this money, it is not being reentered into our economy which is hurting us even more.
ReplyDeleteCorporations say they have money stashed over seas because that money is invested in foreign countries other than the united states. Corporations do this mainly because of the fact that their profits will not be taxed by the united states. That's their way of avoiding losing money. This is bad for the U.S economy because the less money cursing around the system, the worst off the economy will be. My resolution on this would be to charge the corporations in order for them to do business overseas.
ReplyDeleteCorporations stash their money overseas to avoid paying taxes when they bring the money into the U. S."Foreign profits held overseas by U. S. corporations to avoid taxes at home nearly dou led from 2008 to 2013 to top $2.1 trillion, said private reseach firm report prompting a call for reform by the senate top tax law writer".In that case I understand peolple rather save money but this great amount of money could have help our economy system that is going trough a difficult time that could possibly improve, if we app have have a mindset to help, even in the smallest areas. However, they are other reasons that corporations have money stashed overseas. For instant, keeping their money outside of the United States allow them to build new buildings and purchase raw materials without taxes, which is a lot cheaper. This is bad for the U. S. economy because it causes there to be less money circulating, which eventually brings our economy down. In order to encourage U.S. corporations to keep more noney home is to lower taxes, although sone of them will prefer no taxes at all; some will be encourage to return home and help our ailing economy after all home is home no matter what.
ReplyDeleteCorporations say that they have money stashed overseas that ways they dont have to pay taxes in the united states for it. This is bad for our economy because it is less money for the u.s government to have to spend on things to make our economy better. All the government will do, is raise taxes in other things which will give people less money to spend and the companies will still have that money sitting. It just makes our economy even less stable. A solution i would say to stop this issue, would be to pass something of some sort that either makes it a higher tax once you bring it into the united states or makes it where you can only have so much money outside of the united states. those truly are the best two decisions in my mind.
ReplyDeleteCorporations say that they have money stashed overseas because it is used to invest “strictly abroad”. Corporations say that they have money stashed overseas because it is used to invest “strictly abroad”.This is bad for America's economy because the IRS can't gain more income from taxing these corps. which means that they are not getting the money they should be getting.If they were home they would be taxed on, which would be placed back into circulation to maintain a stable economy with spending. But since this is not the case, the IRS can only take money from corporations that are home. The best solution is to pass a regulation.
ReplyDeleteCorporations say that they have money stashed overseas because it is used to invest “strictly abroad”. Another critical reason for stashing money overseas is that they do not have to pay as much of an income tax on their profits over there than over here. The reason why this is so bad for the United States' income is that the IRS will not be taking in a profit from the tax because it is overseas. The solution I would offer to get US corporations to keep more money at home is for all the corporations to pay income tax on most of their overseas profits before they are brought into the United States.
ReplyDelete