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Daily link icon Monday, March 29, 2004

Kerry and Taxes

David Ellis over at Wunderkinder has a great post about Kerry and his tax "plan". I had no idea our corporate taxes were so high! No wonder it's profitable for companies to "offshore". Though, I don't understand how corporate taxes work... I should learn.

The Heritage Foundation has some statistics:

The United States now has the second high [sic] corporate tax rate in the world, second only to Japan. America’s corporate tax rate is higher than the rate in every European nation – even socialist welfare states like France and Sweden. This creates a significant competitive disadvantage for US-based companies.

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Comments XML gif

Mike Utech (http://utech.blogspot.com) wrote:

Two little known facts...
- the number of companies that are sending operations offshore is less than 1% that last time I heard it is .4%
- One company that has over 75% of its operations outside North America is Heintz Ketchup.
Kerry should take care of his own backyard before he tries to get in everyone else's business.

∴ Mike Utech | 29-Mar-2004 6:38am est | http://utech.blogspot.com | #4252

Keith (http://keithdevens.com/) wrote:

Thanks Mike. I wasn't aware of the first statistic you gave. I haven't thought "outsourcing" or "offshoring" or whatever is as big of a problem as everyone is making it out to be. Everyone seems to have a "the sky is falling" mentality about it... it's very strange to watch. Jobs move around the world in a global economy, that's just what happens. I think America is still going to be a great place to work for a while. Smiley Plus, I've heard things indicating that this was perceived to be a big problem during the 80's as well, and we've made out fine so far. I would like those corporate taxes lowered, however.

As for Kerry, I'm aware of that statistic. 79 Heinz factories, 57 varieties of which are overseas. I really liked Right Wing News's little graphic about it.

Keith | 29-Mar-2004 1:02pm est | http://keithdevens.com/ | #4253

Marina Levtov wrote:

Mike Utech:
Just a little suggestion, before you choose to make statistical inferences about a company, maybe you should learn to spell the name right? Heintz is actually H.J. Heinz & Co.

∴ Marina Levtov | 20-Apr-2004 4:18am est | #4385

Keith (http://keithdevens.com/) wrote:

That he made a typo has no bearing on the accuracy of what he said.

Keith | 20-Apr-2004 1:07pm est | http://keithdevens.com/ | #4387

Keith Gaughan (http://talideon.com/) wrote:

When will ye yanks learn that Social Democracy isn't socialism. "Socialist Europe"? Psht!

∴ Keith Gaughan | 21-Apr-2004 11:12am est | http://talideon.com/ | #4396

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