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The time bomb in the tax code that's fueling mass tech layoffs

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Re: The time bomb in the tax code that's fueling mass tech layoffs

#511

Post by hattmall »

coliveira wrote: post #411
trhway wrote: post #202

Earlier quoted context omitted.

What i like about US is that compare to other countries (like for example Russia where i'm originally from) there is almost no lying and cheating here. Instead there is a respect of the law and an army of talented creative accountants and lawyers. Remember that stale "multi-used" sandwich served with the drink which by virtue of its existence converted drinking establishment into a food serving restaurant? Not being…

> almost no lying and cheating here Are you living in an alternate world?

No, he's saying that people respect the law, which they do. It's all about finding loopholes, and sticking to the letter of the law while working around the law to do whatever the law prohibits but doing it in a way that remains legal. This entire situation came up because of loopholes. A great way to offshore money was to spend it on software developed by overseas subsidiaries.

Re: The time bomb in the tax code that's fueling mass tech layoffs

#512

Post by Tade0 »

notimetorelax wrote: post #493
gscott wrote: post #452

Earlier quoted context omitted.

I thought wages were deductible anyway. Say you pay a developer $250,000 a year. The employee pays the tax on their own wages.

No, not in this case. 250k is an expense for the company. Company had to amortize this expense over 5 or 15 years. (15 for software engineers outside of the US)

> (15 for software engineers outside of the US)

Yikes. Does that apply to outsourcing?

Re: The time bomb in the tax code that's fueling mass tech layoffs

#513

Post by riehwvfbk »

Braxton1980 wrote: post #456
rayiner wrote: post #408

Earlier quoted context omitted.

[flagged]

What makes California's government dysfunctional? What about Detroit?

A government that runs the richest city in the country (SF trades this spot with NY every few years) and makes it look the way it does is the definition of dysfunction.

And Detroit... well, I guess now that they've bulldozed all the abandoned buildings it looks less like a post apocalyptic hellscape and more just abandoned. An improvement I suppose.

Re: The time bomb in the tax code that's fueling mass tech layoffs

#514

Post by kfkdjajgjic »

klipt wrote: post #216
shafyy wrote: post #162

Earlier quoted context omitted.

Jesus man, how can you look at the economic history of the past 30 years and still think neoliberalism is the way to go?

Real neoliberalism (with land value tax and pigouvian tax) has never been tried.

https://en.wikipedia.org/wiki/No_true_Scotsman

Re: The time bomb in the tax code that's fueling mass tech layoffs

#516

Post by wvenable »

cma wrote: post #501
mountainriver wrote: post #258

Earlier quoted context omitted.

This is one of the worst things MAGA has done. Tech startups are the source of so much of our wealth, and this makes it very challenging to ever build one. I can’t believe this still exists, and no one has changed it. We truly are governed by morons

A dead post below says it was biden and somehow Obama, but sibling reply link says it passed into law in 2017, not 2022, the first year it went into effect I think.

The article is pretty clear that the law was from 2017 had a scheduled start date of 2022. Although probably not the actual intended effect, it does have the effect of confusing who would be responsible for it by those who don't read past the effective date.

Re: The time bomb in the tax code that's fueling mass tech layoffs

#518

Post by wvenable »

kenjackson wrote: post #348
candiddevmike wrote: post #219

Earlier quoted context omitted.

As a progressive, it seems like the Democrats always have Senate spoilers...

But this is the type of thing that progressives would like support (tax big corporate America).

This time bomb was created because the bill slashed the corporate tax rate from 35% to 21%. Maintaining the status quo would mean taxing big corporate America more than this bill does.

Re: The time bomb in the tax code that's fueling mass tech layoffs

#519

Post by motorest »

_heimdall wrote: post #376
adgjlsfhk1 wrote: post #363

Earlier quoted context omitted.

if you retain power, you can fix it. the US government currently has the significant problem that one party campaigns on the government being dysfunctional, so they do their best to make it so.

But what would trump have done if he retained the presidency and lost congress? That's also been pretty common over the last few decades if I'm mistaken, a president with one or both sides of Congress is reelected but Congress flips to the opposition party.

> But what would trump have done if he retained the presidency and lost congress?

Trump is blaming Biden for the obvious outcome of Trump's tarrif nonsense. What do you think Trump would have done?

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