tag:blogger.com,1999:blog-4900303239154048192.post2807224961752285709..comments2024-03-06T06:34:42.881-05:00Comments on EconoSpeak: Mankiw v. Kleinbard on Corporate InversionsUnknownnoreply@blogger.comBlogger5125tag:blogger.com,1999:blog-4900303239154048192.post-11437807644604621132014-08-25T13:26:29.360-04:002014-08-25T13:26:29.360-04:00Bud - the HBR discussion was interesting in large ...Bud - the HBR discussion was interesting in large part because it does discuss transfer pricing. Kleinbard talks about this issue under "stateless income". Since Mankiw linked to the Kleinbard discussion, he had to see it. But he can't mention it? Quite frankly, that makes Greg's oped rather dishonest in my opinion. ProGrowthLiberalhttps://www.blogger.com/profile/17138489390594441753noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-67113099327779357362014-08-25T13:24:26.127-04:002014-08-25T13:24:26.127-04:00Gordon - fair question. And timely given that Bur...Gordon - fair question. And timely given that Burger King is now doing the corporate inversion game. As I read BK's 10-K, 80% of their income is sourced abroad even though half of their franchises are here and one would think their intangibles were originally created here. On their foreign sourced income, they pay an effective tax rate near 15%. So why isn't their overall effective tax rate not less than 20%? Because they get hit with this repatriation tax, which now disappears with the inversion. My suggestion is to get rid of this repatriation tax as it really is ineffective but to beef up substantially the enforcement of our transfer pricing rules. ProGrowthLiberalhttps://www.blogger.com/profile/17138489390594441753noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-58555255903607751882014-08-25T12:57:49.437-04:002014-08-25T12:57:49.437-04:00At this post for the Harvard Business Review, Bill...At this post for the Harvard Business Review, Bill George says:<br /><br />"You’re now getting into a much broader and more complex issue. With global corporations, they have to insure that they can be competitive around the world, and still be responsible to the national governments they serve. And there’s no such thing as global laws in many, many cases, including tax law. So you get a great deal of dysfunctionality, and I think this is why we need international bodies to help us work our way through these issues and sort them out."<br /><br />Where I comment:<br /><br />"Yes, and these “international bodies” could also mandate an International Maximum Wage for their multinational corporate board-of-directors — as well as an International Minimum Wage for all their employees who work for those same multinational corporations. This would help level the playing field among competitors -- generating business competition based on real merit, corporate governance and new innovation, rather than on who can screw their workers the most, dodge the most taxes, and avoid the most worker-safety and environmental laws."<br /><br />http://blogs.hbr.org/2014/08/the-conversation-we-should-be-having-about-corporate-taxes/Bud Meyershttps://www.blogger.com/profile/02065020063363023395noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-48869997573442911542014-08-24T21:56:57.913-04:002014-08-24T21:56:57.913-04:00Sir thomas moore... a man for all seasons gets to ...Sir thomas moore... a man for all seasons gets to be put to death and the nobles who did the kings bidding got title, power and wealth<br /><br />But who do we remember?Anonymoushttps://www.blogger.com/profile/15911289508712980517noreply@blogger.comtag:blogger.com,1999:blog-4900303239154048192.post-52652859022696164332014-08-24T17:48:29.950-04:002014-08-24T17:48:29.950-04:00So what is your suggestion? You some how decided ...So what is your suggestion? You some how decided to leave that out.Gordonhttps://www.blogger.com/profile/00389480481277059896noreply@blogger.com