About that Bailout...

[Baldy]

A Tidal Wave of Corporate Migrants Seeking (Tax) Shelter

In the fall of 2008, with General Motors and Chrysler on the precipice of bankruptcy, executives at the car parts supplier Johnson Controls flew to Washington. The company’s president testified before a Senate panel and implored lawmakers to bail out the auto industry.

“Speaking for our company, and, I am sure for all auto parts suppliers, we respectfully urge the members of this committee, and the Congress as a whole, to provide the financial support the automakers need at this critical time,” Keith Wandell, then the president of Johnson Controls, said, warning that the failure of even one automobile company would “implode” the supply chain and lead to broad job losses.

Congress approved a bailout plan worth almost $80 billion for General Motors and Chrysler, saving the automakers and, indirectly, suppliers like Johnson Controls. By 2010, with its business back on track, Johnson Controls doubled the pay of Stephen Roell, then its chief executive, to more than $15 million.

Despite the federal government’s rescue — and hundreds of millions of dollars in tax breaks over the last several decades from states like Michigan and Wisconsin — Johnson Controls said on Monday it was renouncing its United States corporate citizenship by selling itself to Tyco International, based in Ireland, a deal struck in large part to reduce its tax bill, which it said should drop by about $150 million annually.

Somewhere Mitt Romney is

[Ivytalk]

If Ireland adopts the Delaware corporation law, my practice is fucked.

[GannonFan]

This can't be true. I heard that corporations don't pay taxes in the US. Has Fox bought the NY Times just to put out this kind of misinformation?

[Chizzang]

I wish every corporation seeking tax breaks sold their companies to foreign entities ASAP
only good can come from this
things need to be shaken up dramatically

[kalm]

This can't be true. I heard that corporations don't pay taxes in the US. Has Fox bought the NY Times just to put out this kind of misinformation?

Just like with wages, a race to the bottom for taxes is good for America. Amirite!

Cheap products!

[GannonFan]

This can't be true. I heard that corporations don't pay taxes in the US. Has Fox bought the NY Times just to put out this kind of misinformation?

Just like with wages, a race to the bottom for taxes is good for America. Amirite!

Cheap products!

Let me know when you start offering to pay more for everything you buy. Do you go into Best Buy and ask to be charged full price rather than getting the sale price? Do you pay double the toll at any toll booth? Do you purposely not shop wholesale (i.e. Costco, BJ's, Sam's Club, etc) just so you don't get any volume discounts?

[Baldy]

This can't be true. I heard that corporations don't pay taxes in the US. Has Fox bought the NY Times just to put out this kind of misinformation?

Just like with wages, a race to the bottom for taxes is good for America. Amirite!

Cheap products!

I wish we could be like those Conks in Switzerland with their obscene 8.5% corporate income tax rate.

[YoUDeeMan]

Just like with wages, a race to the bottom for taxes is good for America. Amirite!

Cheap products!

Let me know when you start offering to pay more for everything you buy. Do you go into Best Buy and ask to be charged full price rather than getting the sale price? Do you pay double the toll at any toll booth? Do you purposely not shop wholesale (i.e. Costco, BJ's, Sam's Club, etc) just so you don't get any volume discounts?

HEY!

Stop that...right now.

It is OTHERS that need to pay more...not, errrr...other others.

[Chizzang]

Just like with wages, a race to the bottom for taxes is good for America. Amirite!

Cheap products!

I wish we could be like those Conks in Switzerland with their obscene 8.5% corporate income tax rate.

Average Salary in the US -51% below Switzerland
Mortgage Interest Rate in Percentages (%), Yearly 124% Lower in the US than Switzerland
Consumer Prices in United States are 39.47% lower than in Switzerland
Consumer Prices Including Rent in United States are 36.73% lower than in Switzerland
Rent Prices in United States are 30.19% lower than in Switzerland
Restaurant Prices in United States are 41.81% lower than in Switzerland
Groceries Prices in United States are 38.26% lower than in Switzerland
Local Purchasing Power in United States is 31.38% lower than in Switzerland



Sounds like Paradise

[kalm]

I wish we could be like those Conks in Switzerland with their obscene 8.5% corporate income tax rate.

Average Salary in the US -51% below Switzerland
Mortgage Interest Rate in Percentages (%), Yearly 124% Lower in the US than Switzerland
Consumer Prices in United States are 39.47% lower than in Switzerland
Consumer Prices Including Rent in United States are 36.73% lower than in Switzerland
Rent Prices in United States are 30.19% lower than in Switzerland
Restaurant Prices in United States are 41.81% lower than in Switzerland
Groceries Prices in United States are 38.26% lower than in Switzerland
Local Purchasing Power in United States is 31.38% lower than in Switzerland



Sounds like Paradise

Yeah but they have those 300 million people, infrastructure and land spanning a continent, and wars in the Middle East and Central Asia to pay for.

[YoUDeeMan]

Average Salary in the US -51% below Switzerland
Mortgage Interest Rate in Percentages (%), Yearly 124% Lower in the US than Switzerland
Consumer Prices in United States are 39.47% lower than in Switzerland
Consumer Prices Including Rent in United States are 36.73% lower than in Switzerland
Rent Prices in United States are 30.19% lower than in Switzerland
Restaurant Prices in United States are 41.81% lower than in Switzerland
Groceries Prices in United States are 38.26% lower than in Switzerland
Local Purchasing Power in United States is 31.38% lower than in Switzerland



Sounds like Paradise

If I am an average Swiss person bringing home $100,000, and the US salary is 51% below my salary, then all of those other 30% higher costs for the Swiss, except for the mortgage interest, mean nothing. And even the mortgage interest would depend on other factors (what % of my income was borrowed...what type of house can you buy for what cost) to determine if it mattered.

[Chizzang]

Average Salary in the US -51% below Switzerland
Mortgage Interest Rate in Percentages (%), Yearly 124% Lower in the US than Switzerland
Consumer Prices in United States are 39.47% lower than in Switzerland
Consumer Prices Including Rent in United States are 36.73% lower than in Switzerland
Rent Prices in United States are 30.19% lower than in Switzerland
Restaurant Prices in United States are 41.81% lower than in Switzerland
Groceries Prices in United States are 38.26% lower than in Switzerland
Local Purchasing Power in United States is 31.38% lower than in Switzerland



Sounds like Paradise

If I am an average Swiss person bringing home $100,000, and the US salary is 51% below my salary, then all of those other 30% higher costs for the Swiss, except for the mortgage interest, mean nothing. And even the mortgage interest would depend on other factors (what % of my income was borrowed...what type of house can you buy for what cost) to determine if it mattered.

My point
Switzerland is one of the most expensive places to live in the world
CID will tell you the only way to move there is to actually PAY HUGE sums of Money

Comparing Switzerland to the United States is like comparing Wal-Mart to the Cartier Store
Which reminds me:
Switzerland does not accept Chinese Imported Goods without "Extensive Review"
And they have no official trade agreement with China accepting something like 3.1%

So quite literally Switzerland and the U.S. couldn't be farther apart in almost every metric

[YoUDeeMan]

Comparing Switzerland to the United States is like comparing Wal-Mart to the Cartier Store
Which reminds me:
Switzerland does not accept Chinese Imported Goods without "Extensive Review"
And they have no official trade agreement with China accepting something like 3.1%

Actually, WalMart is a lot closer to Cartier than you think. Both sell junk that people think (are told) they need.

And Cartier is a lot worse than most US used car salesmen.

Ever try to sell a used diamond?

[Chizzang]

Comparing Switzerland to the United States is like comparing Wal-Mart to the Cartier Store
Which reminds me:
Switzerland does not accept Chinese Imported Goods without "Extensive Review"
And they have no official trade agreement with China accepting something like 3.1%

Actually, WalMart is a lot closer to Cartier than you think. Both sell junk that people think (are told) they need.

And Cartier is a lot worse than most US used car salesmen.

Ever try to sell a used diamond?

Irrelevant but true...
Diamonds are only slightly less common than quartz
and a few hundred years ago Diamonds were basically worthless
only Gems of unique color were of any value



But none of them are worth a f*ck to me

[CID1990]

If I am an average Swiss person bringing home $100,000, and the US salary is 51% below my salary, then all of those other 30% higher costs for the Swiss, except for the mortgage interest, mean nothing. And even the mortgage interest would depend on other factors (what % of my income was borrowed...what type of house can you buy for what cost) to determine if it mattered.

My point
Switzerland is one of the most expensive places to live in the world
CID will tell you the only way to move there is to actually PAY HUGE sums of Money

Comparing Switzerland to the United States is like comparing Wal-Mart to the Cartier Store
Which reminds me:
Switzerland does not accept Chinese Imported Goods without "Extensive Review"
And they have no official trade agreement with China accepting something like 3.1%

So quite literally Switzerland and the U.S. couldn't be farther apart in almost every metric

Yep- you don't just "immigrate" to Switzerland... unless you're Tina Turner

And they basically put our airmen in concentration camps during WWII

So yeah - fvck the Swiss

BTW that whole "holey" cheese thing is just a cheap way of making you pay the same price for less cheese

[Ivytalk]

I wish we could be like those Conks in Switzerland with their obscene 8.5% corporate income tax rate.

Average Salary in the US -51% below Switzerland
Mortgage Interest Rate in Percentages (%), Yearly 124% Lower in the US than Switzerland
Consumer Prices in United States are 39.47% lower than in Switzerland
Consumer Prices Including Rent in United States are 36.73% lower than in Switzerland
Rent Prices in United States are 30.19% lower than in Switzerland
Restaurant Prices in United States are 41.81% lower than in Switzerland
Groceries Prices in United States are 38.26% lower than in Switzerland
Local Purchasing Power in United States is 31.38% lower than in Switzerland



Sounds like Paradise

I think it's mathematically impossible to be 124% below something. Isn't the maximum 100%? CS math whizzes, help me out.

[Baldy]

Comparing Switzerland to the United States is like comparing Wal-Mart to the Cartier Store

Sorta like the US and Sweden along with Finland, Norway, and Denmark are nothing alike either?

[CAA Flagship]

Average Salary in the US -51% below Switzerland
Mortgage Interest Rate in Percentages (%), Yearly 124% Lower in the US than Switzerland
Consumer Prices in United States are 39.47% lower than in Switzerland
Consumer Prices Including Rent in United States are 36.73% lower than in Switzerland
Rent Prices in United States are 30.19% lower than in Switzerland
Restaurant Prices in United States are 41.81% lower than in Switzerland
Groceries Prices in United States are 38.26% lower than in Switzerland
Local Purchasing Power in United States is 31.38% lower than in Switzerland



Sounds like Paradise

I think it's mathematically impossible to be 124% below something. Isn't the maximum 100%? CS math whizzes, help me out.

Germans?
Forget it, he's rolling.

[YoUDeeMan]

Average Salary in the US -51% below Switzerland
Mortgage Interest Rate in Percentages (%), Yearly 124% Lower in the US than Switzerland
Consumer Prices in United States are 39.47% lower than in Switzerland
Consumer Prices Including Rent in United States are 36.73% lower than in Switzerland
Rent Prices in United States are 30.19% lower than in Switzerland
Restaurant Prices in United States are 41.81% lower than in Switzerland
Groceries Prices in United States are 38.26% lower than in Switzerland
Local Purchasing Power in United States is 31.38% lower than in Switzerland



Sounds like Paradise

I think it's mathematically impossible to be 124% below something. Isn't the maximum 100%? CS math whizzes, help me out.

There are three types of people in this world: those who can do math, and those who can't.

[kalm]

My point
Switzerland is one of the most expensive places to live in the world
CID will tell you the only way to move there is to actually PAY HUGE sums of Money

Comparing Switzerland to the United States is like comparing Wal-Mart to the Cartier Store
Which reminds me:
Switzerland does not accept Chinese Imported Goods without "Extensive Review"
And they have no official trade agreement with China accepting something like 3.1%

So quite literally Switzerland and the U.S. couldn't be farther apart in almost every metric

Yep- you don't just "immigrate" to Switzerland... unless you're Tina Turner

And they basically put our airmen in concentration camps during WWII

So yeah - fvck the Swiss

BTW that whole "holey" cheese thing is just a cheap way of making you pay the same price for less cheese

That holey cheese bit is some nice work.

BTW, Chizzy you realize I was agreeing with you, right?

[Jjoey52]

in almost every china-cartier-store-17954686.jpg[/img][/quote]

Yep- you don't just "immigrate" to Switzerland... unless you're Tina Turner

And they basically put our airmen in concentration camps during WWII

So yeah - fvck the Swiss

[Jjoey52]

Yep- you don't just "immigrate" to Switzerland... unless you're Tina Turner

And they basically put our airmen in concentration camps during WWII

So yeah - fvck the Swiss[/quote]

Not true, internees were treated quite well there, I have spoken to many. They did however, hoard the Nazi money they stole from Jews.

[CID1990]

Yep- you don't just "immigrate" to Switzerland... unless you're Tina Turner

And they basically put our airmen in concentration camps during WWII

So yeah - fvck the Swiss

Not true, internees were treated quite well there, I have spoken to many. They did however, hoard the Nazi money they stole from Jews.[/quote]

Yes, true.

I have one great uncle who was interned there - the foul treatment of our airmen in Switzerland is well documented- and there were many who fared well

[Chizzang]

Yep- you don't just "immigrate" to Switzerland... unless you're Tina Turner

And they basically put our airmen in concentration camps during WWII

So yeah - fvck the Swiss

Not true, internees were treated quite well there, I have spoken to many. They did however, hoard the Nazi money they stole from Jews.

My point is:
Switzerland is a millionaires club more than a free country
and comparing its corporate tax structure to America (See: Baldy) is ridiculous

[BDKJMU]

I wish we could be like those Conks in Switzerland with their obscene 8.5% corporate income tax rate.

Average Salary in the US -51% below Switzerland
Mortgage Interest Rate in Percentages (%), Yearly 124% Lower in the US than Switzerland
Consumer Prices in United States are 39.47% lower than in Switzerland
Consumer Prices Including Rent in United States are 36.73% lower than in Switzerland
Rent Prices in United States are 30.19% lower than in Switzerland
Restaurant Prices in United States are 41.81% lower than in Switzerland
Groceries Prices in United States are 38.26% lower than in Switzerland
Local Purchasing Power in United States is 31.38% lower than in Switzerland



Sounds like Paradise

Link?