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Ireland joins OECD International Tax agreement

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Re: Ireland joins OECD International Tax agreement

#111
post #73

Earlier quoted context omitted.

In Australia, I like: - parks - museums - libraries - free primary and secondary education - subsidised tertiary/vocational education - a (relative of course) functioning public transport system - healthcare - worker protections - other stuff I'm sure I'm forgetting Sure, government is inefficient. All large orgs are. But are you telling me for-profit corporations are going to create a society with all these things f…

Generally Government is dramatically more efficient than a comparable private business—the difference is that Government failings tend to be publicly available information, while a corporation can blow thirty million dollars on ineffective marketing and unnecessary consultants and you'll never know.

Corporations are way more efficient than governments in most areas. We know this since there are simply not a single government in the world that has implemented efficient versions of many of the things that private corporations easily do efficiently. The services government do is pretty much the same everywhere, roads, school, healthcare, police, military etc. But you don't see them run food distribution, grocery stores etc even though food certainly would be important enough for governments to do, its just that governments aren't good at doing it and many of the worst famines humanity has experiences are due to governments trying to control food production and distribution.

Re: Ireland joins OECD International Tax agreement

#112
post #47
post #10

Earlier quoted context omitted.

Total and $750M aren't even the same unit. The former is profit, while the latter is revenue.

I meant would it incentivize a 749 revenue company to lose money to save on the 2.5% extra tax

They wouldn't have to lose money, just avoid taking in additional revenue. An incentive certainly, but far from the worst in the tax code.

Personally, I think the tax rate should be higher than 15% for all corporations so I'm not so worried that a company might miss out on an even better deal of 12.5%, but I see the concern that a small change in revenue might change their tax bill by millions.

Re: Ireland joins OECD International Tax agreement

#113

Earlier quoted context omitted.

You’re right, Poland is probably in worse position than Texas here. Texas at least has the promise of a federal system to reign in its more unpopular legislative instincts, Poland not so much.

Well, the EU is a bunch of unelected bureaucrats. Of course national law made by a democratically elected government should trump some unelected and possibly very corrupt bureaucrats far away.

The EU treaties that Poland has signed (along with every other member state) assert that EU law has primacy over national law.

If Poland’s government doesn’t like that, it should resign its membership like Britain did.

Re: Ireland joins OECD International Tax agreement

#114
post #105
post #86

Earlier quoted context omitted.

Surely SS and healthcare are largely funded by SS payments. Taxes go toward Medicare but premiums are a big part too. https://www.pgpf.org/budget-basics/medicare

SS "payments" are taxes.

Those are payroll taxes, not income or wealth taxes that would be targeting the rich.

Re: Ireland joins OECD International Tax agreement

#115
post #102
post #68

Earlier quoted context omitted.

To me it seems like a honest criticism on the inefficiency of government allocation of tax payer's money. There's nothing wrong with voicing your opinions that way. I feel that people just don't like it if someone disagrees with "taxing the rich", and that's why it was flagged.

It struck me as highly dishonest. I have a hard time believing that anyone one seriously thinks 0.000000% of government spending benefits common people

Well we exist. That's a charitable phrasing even; government spending brings severely negative value to common people.

Re: Ireland joins OECD International Tax agreement

#117
post #113

Earlier quoted context omitted.

Well, the EU is a bunch of unelected bureaucrats. Of course national law made by a democratically elected government should trump some unelected and possibly very corrupt bureaucrats far away.

The EU treaties that Poland has signed (along with every other member state) assert that EU law has primacy over national law. If Poland’s government doesn’t like that, it should resign its membership like Britain did.

I do not look forward to either the portmanteaus, nor the dumb news coverage that Poland leaving the EU would create.

Re: Ireland joins OECD International Tax agreement

#118
post #28
post #6

I've always been baffled as to how this is seen as a multi-national issue. The US could always implement unilateral minimum VAT and profit[3] taxes on corporations forcing them to effectively pay whatever proportion the US demands to continue doing business in the world's largest consumer market. Just because you're only paying 3%[1] profit[3] tax in Bermuda doesn't mean you can necessarily skate around the remaining…

You probably have to be very clever to set this up so they can't be Company A (US) Ltd registering very little profit as they have to pay royalties to Company A (Tax Haven) limited without also inflicting massive collateral damage to smaller companies that can't afford the tax lawyers or preventing foreign companies from selling anything in the US.

Yeah, this is the real problem. It is hard for a law to disentangle whether payments to a foreign company are market rate purchases from an independent supplier (that can't be taxed due to free trade treaties), or transfers of profit to an affiliate shell company

Re: Ireland joins OECD International Tax agreement

#119
post #105

Earlier quoted context omitted.

SS "payments" are taxes.

Those are payroll taxes, not income or wealth taxes that would be targeting the rich.

SS payments are now also paid from treasury reserves, so collected general taxes do in fact pay for (part of) SS.

Also, there is no reason that the cap on SS tax collection shouldn't be lifted.

Re: Ireland joins OECD International Tax agreement

#120
post #4

Ireland is about to discover how unattractive it is as a locale for multinational HQs when the playing field is somewhat more level. And I'm in favor of the move as a middle class US taxpayer and a small business owner who pays through the nose, but this is a quite obvious self-own in the long run for them, much for the same reason why introducing a wealth tax was a self-own for France. Big Money is mobile, sophistic…

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