Making America Great Again

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Comments

  • NZ IndicatorNZ Indicator Senior Member Posts: 9,068 Senior Member
    Only black bears here. They are more scared of you than you are of them.

    5012c86ec1c3ff2e2dbe1f874bbc5f24.jpg

    6c9d925dfaad2996843cba7bbac556a7.jpg

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  • StevenSteven Senior Member Posts: 1,912 Senior Member
    Shawn C. wrote: »
    Well, at least Joe, Sherb, Steven, BuffMOT, Wayne and Mike A will save a couple hundred dollars in federal tax liability per year. So there's that...

    I wouldn't expect to save a dime. I'm just interesting in my company being able to compete with our foreign competitors. A new Cayman company with a significant tax advantage just bought one of our competitors and will use an offshore reinsurance structure to effectively lower its tax rate to somewhere between 15%-20% while we still pay 35%.

    This **** is real and it matters.
  • creekguycreekguy Senior Member Posts: 3,905 Senior Member
    Does either party have a program to reduce offshoring? I don't recall Trump saying anything about companies relocating in the Cayman's, etc. He wants to tax imports, but relocating the company headquarters to avoid taxes seems to still be going on.
  • fishingcomicfishingcomic Senior Member Posts: 21,201 Senior Member
    Steven wrote: »
    I wouldn't expect to save a dime. I'm just interesting in my company being able to compete with our foreign competitors. A new Cayman company with a significant tax advantage just bought one of our competitors and will use an offshore reinsurance structure to effectively lower its tax rate to somewhere between 15%-20% while we still pay 35%.

    This **** is real and it matters.

    Interesting take when I consider all the times you have defended this company's practices in the past.
    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • StevenSteven Senior Member Posts: 1,912 Senior Member
    Which company is that exactly?
    What practices exactly?
  • StevenSteven Senior Member Posts: 1,912 Senior Member
    Joe,

    That top picture looks like a certain section of the Willow.

    Turns out our Chief Investor Officer has recently discovered fly fishing. I promised to take him up once the hoppers start.
  • Shawn C.Shawn C. Senior Member Posts: 5,298 Senior Member
    Joe,

    I always enjoy your fishing pictures. Your home territory is very scenic!
  • fishingcomicfishingcomic Senior Member Posts: 21,201 Senior Member
    Steven wrote: »
    Which company is that exactly?
    What practices exactly?

    Can you say obtuse? I knew you could.
    'I've spoken of the Shining City all my political life. …In my mind it was a tall, proud city built on rocks stronger than oceans, windswept, God-blessed, and teeming with people of all kinds living in harmony and peace; a city with free ports that hummed with commerce and creativity. And if there had to be city walls, the walls had doors and the doors were open to anyone with the will and the heart to get here. That's how I saw it, and see it still.'" Ronald Reagan
  • GoldenladleGoldenladle Super Moderator Posts: 3,754 Senior Member
    Steven wrote: »
    Joe,

    That top picture looks like a certain section of the Willow.

    It also looks like a spot on Lost Creek

    Moved to Montana, gonna be a dental floss tycoon.

  • NZ IndicatorNZ Indicator Senior Member Posts: 9,068 Senior Member
    Steven wrote: »
    Joe,

    That top picture looks like a certain section of the Willow.

    Turns out our Chief Investor Officer has recently discovered fly fishing. I promised to take him up once the hoppers start.
    I was in western WI. Haven't fished willow in 2 years.

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  • NZ IndicatorNZ Indicator Senior Member Posts: 9,068 Senior Member
    Shawn C. wrote: »
    Joe,

    I always enjoy your fishing pictures. Your home territory is very scenic!
    Thanks. I love where I live although winter gets old at times.

    Sent from my SM-G900V using Tapatalk
  • NZ IndicatorNZ Indicator Senior Member Posts: 9,068 Senior Member
    It also looks like a spot on Lost Creek
    Winner, winner chicken dinner.

    Sent from my SM-G900V using Tapatalk
  • StevenSteven Senior Member Posts: 1,912 Senior Member
    Can you say obtuse? I knew you could.

    I guess I must be obtuse because I have no **** idea what you're talking about.
    I've never said anything bad, ever, about my current employer, and was the biggest bull on the name on Wall Street...and this is a new entrant buying a small company that I've never, ever mentioned.
  • StevenSteven Senior Member Posts: 1,912 Senior Member
    creekguy wrote: »
    Does either party have a program to reduce offshoring? I don't recall Trump saying anything about companies relocating in the Cayman's, etc. He wants to tax imports, but relocating the company headquarters to avoid taxes seems to still be going on.

    Well, he came out against the border adjustment tax.

    The company I'm describing isn't an inversion. It's a foreign company buying a U.S. company. It's reinsuring 80% of the annuities written by the U.S. company to the Cayman's reinsurance company. Under current tax law, the U.S. company deducts 80% of the premiums from it's taxable income, but the Cayman's reinsurer pays no income tax on the premium it is assuming.

    However, the U.S. company pays a 1% premium tax when it initially cedes premium to the reinsurer. The net economic effect is similar to a tax rate in the 15% to 20% range.

    There's a huge economic incentive to find ways to move profits offshore, but forbidding it will be ineffective. 535 people in Congress are never going to be smarter than hundreds of thousands of accountants. The real answer is to lower the corporate tax rate here.
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