and I really started laughing because they were playing Obama talking tough on sanctions against Russian businesses and then the very next news story was about Pfizer trying to buy a British-based company so that they can move their operations overseas in order to save billions of dollars over the next decade. It's so sad that our idiot president can't see that higher taxes, fees and government regulations and restrictions have the exact same effect on businesses here as his sanctions do to the "bad guys" overseas. Just think of all of the lost tax revenue and jobs that will be moving out with Pfizer.
Listening to the Wall St Journal radio this am
- Thread starter HookdOnASquealin
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Whitehall moved to Puerto Rico years ago, but the reason is quite simple:
companies who have their headquarters outside the US pay ZERO taxes to the US. But they make most if not all of their profit by US sales. I have not bought a Whitehall product in years and will continue that effort.
companies who have their headquarters outside the US pay ZERO taxes to the US. But they make most if not all of their profit by US sales. I have not bought a Whitehall product in years and will continue that effort.
Can you blame them for moving? Seriously, if you are the owner of the business don't you think your goal is to maximize profits so you and your employees make more money and the company stays in business longer? If the company is more profitable then even in the down years it has a better chance of survival.
As long as CEO's rake in 20 or more million dollars a year in bonuses, yes, I can blame them.
The worst thing about our fairly recent economic model is that we are now importing finished products instead of building them and selling them ourselves. The "new world order' has done us a lot of harm and the last time I saw a listing the average American worker is around 8th on the world wide list of salaries. So we are rapidly becoming a country again, of two social groups, upper and lower and the middle is disappering quickly.
I do not blame left or right, but all of us have dropped the ball IMO.
The worst thing about our fairly recent economic model is that we are now importing finished products instead of building them and selling them ourselves. The "new world order' has done us a lot of harm and the last time I saw a listing the average American worker is around 8th on the world wide list of salaries. So we are rapidly becoming a country again, of two social groups, upper and lower and the middle is disappering quickly.
I do not blame left or right, but all of us have dropped the ball IMO.
A lot of drug companies are in Puerto Rico because they get tax exempt status.
And, since Puerto Rico is not a state and thus has no representation in Congress, they pay no federal income tax.
Bob, anytime you see a CEO making that much money, it is because of stock options. If the stock doesn't go up.. they don't make any money.
As far as 8th in salary, you'd have to consider the cost of living in those countries to make an accurate comparison..
It's like Pharmacists making 50% more in California than Louisiana... but the cost of housing is probably 4 times higher in California.
First, I think we are in a heap of trouble as China has five times our population and if they become consumers they will dominate the worlds markets. India has three times our population so we have a hard row to hoe no matter what.
That aside, I read where a CEO, I forgot the company, was fired and his Severeance pay was 91 million dollars. And I do think bonuses are not necessarily due to price of stock, but upper executives these days write their own executive pay packages, rubber stamped by the board who usually know nothing of the company, they are celebs and such who make the old stage show, movie, "how to suceed in business without even trying" a reality.
I personally am very pessimistic about our future economically. Our infrastructure is falling apart, our Congress is totally inept, and generally we are getting ourselves in a real pickle. As a nation we have not been together since the end of WW2. And I fear we are approaching a real divided nation of the future.
That aside, I read where a CEO, I forgot the company, was fired and his Severeance pay was 91 million dollars. And I do think bonuses are not necessarily due to price of stock, but upper executives these days write their own executive pay packages, rubber stamped by the board who usually know nothing of the company, they are celebs and such who make the old stage show, movie, "how to suceed in business without even trying" a reality.
I personally am very pessimistic about our future economically. Our infrastructure is falling apart, our Congress is totally inept, and generally we are getting ourselves in a real pickle. As a nation we have not been together since the end of WW2. And I fear we are approaching a real divided nation of the future.
As the Chinese economy grows... and they create more wealth, the Chinese will become consumers. They will be able to afford more imports... from the US..
Right now, they are so poor that they really can't afford to buy much from us.
I hope you are entirely correct, but my main fear is that when the time comes for us to be the world's great exporters, we will have no manufacturing facilities. Our factories are being shuttered and things like furniture making and consumer goods production are now in China, not the US, we have been in the "information age" mentality too long.
But history will sort that out and I hope my grand children see what you and I saw growing up.
But history will sort that out and I hope my grand children see what you and I saw growing up.
Our golden years of exports is in the past. After WWII we were the worlds biggest exporters.
As the Chinese economy matures.. and the people become wealthier, they will demand better working conditions, more oversight into keeping the workplace safe, more environmental conscientiousness. They'll get a Chinese equivalent to OSHA and the EPA etc. etc. With increasing wages and all that regulation, the cost of manufacturing they currently enjoy will narrow.
I see great irony in that we were set and ready to be the worlds leader after WW2 and the factors involved now have been reversed.
In 1946, most of Asia, and virtually all of Europe was in ruins. Our industrial might was untouched and all we had to do was convert from making weapons to making consumer goods and did an excellent job ot it.
However, things are reversed now we have the old infrastructure and all those who had to rebuild after WW2 have new, booming facilities and we have a decaying country.
So I think we as a nation need to come together, first of all, then decide to put our house in order and we can become a giant again. But if we continue to fight among ourselves, we are in for a heap of trouble.
In 1946, most of Asia, and virtually all of Europe was in ruins. Our industrial might was untouched and all we had to do was convert from making weapons to making consumer goods and did an excellent job ot it.
However, things are reversed now we have the old infrastructure and all those who had to rebuild after WW2 have new, booming facilities and we have a decaying country.
So I think we as a nation need to come together, first of all, then decide to put our house in order and we can become a giant again. But if we continue to fight among ourselves, we are in for a heap of trouble.
