Yes, the complexity is horrible. Never fear, Congress gets their taxes done for free though. Plus they are exempt from insider trading.
Nothing like gross oversimplification to completely misunderstand a complex and nuanced topic! The fact is that if you can set up a low enough corporate tax rate you can get a bunch of multinationals who otherwise would have jack to do with your country to invert there and you get big bucks you otherwise wouldn't have gotten. Ireland couldn't support itself on their tax rates if they weren't essentially free riding off the production of intellectual property in the U.S. If it was just Ireland's true native tax base providing their revenue they would go back to the desperately poor country they were with those tax rates. The presence of a few low tax countries trying to essentially steal tax revenue from other countries is the natural order of things but not any kind of justification that it's a great idea or at all sustainable for the world's largest economy to copy them. In fact the concept only works if you're small and can leech off a far bigger economy!
All that nonsense doesn’t change the fact that everything boils down to costs and the company ultimately chose to go to Ireland, because it would be cheaper and more profitable there. So Ireland didn’t steal anything, they were just smarter than the U.S. in this situation and the U.S. lost this “revenue” to them, that’s how competition works. Stealing implies use of force, they didn’t force anything, the company CHOSE to go there(for the luck of it’s clients who now can buy cheaper products compared to what they would pay if the company had to input the additional cost of the higher US taxes in it’s products’ prices).
Stealing doesn't imply use of force at all in the business world; I talk about stealing my competitor's customers all the time and I'm certainly not planning to physically kidnap them! The point that requires a little subtlety to grasp is the asymmetric engagement of an Ireland to a U.S. It can make perfect sense for tiny Ireland to set a tax rate less than what is required to sustain their economy knowing that they can free ride off U.S. companies that will be attracted to that and perform financial engineering to shift their tax obligation to Ireland. That in no way means that it would make sense for the world's biggest economy to set our tax rate lower than required to attract the Irish companies of the world to move to the US., that's the asymmetry inherent in the situation. Delaware does the same thing as an incorporation state in the U.S., it certainly doesn't mean it would make sense for NY or CA to copy DE. In the end the whole thing is a gimmicky gaming of the fact that it takes time to change laws. You don't get to "compete" for who you pay your taxes to, you pay your taxes to the country that provided you the benefits that allowed your company to make the money it did. As such, countries (and states) eventually pass laws to ensure that you pay taxes on the products and services you developed in that country. The best an Ireland can hope for is that like DE they will get a critical mass of companies before then and they stay technically headquartered there just because the body of corporate legal precedence is bigger than anywhere else. The tax piece is not in any way a sustainable long term strategy. It's an incredibly naive understanding of economics to think that Ireland is a magical low tax leprechaun forest where the trickle down unicorns crap out prosperity to all simply because they set a low tax rate and we can all copy it by doing the same. Everyone knows you can only grow a leprechaun forest in Ireland. BTW, have you ever actually spent time in rural Ireland (or DE)? It's definitely not there compared to the rest of the EU, which coincidentally all have higher corporate taxes.
Again... Despite all your nonsense, what matters is cost and the company has the right to do whatever it takes to be competitive. Offering better products and services and as a result of that drawing clients from other companies because of that is not stealing, it is a free market. It is exactly the same thing here between Ireland/USA. If the country in which the company was founded changed it's laws and forced the company to be less competitive, the company doesn't have to pay for the country's stupidity. And, as I said, in the end, consumers will get better products at better prices because of that, this is what matters. It's curious to note that a leftist/communist like you are defending the same stupid policies that Trump defended by saying: "You don't get to "compete" for who you pay your taxes to, you pay your taxes to the country that provided you the benefits that allowed your company to make the money it did." What a load of crap... In the end, as always, you communists are just like your twin brothers fascists, all control freaks. It's a good thing there are people in the U.S. that believe in freedom, the country's true foundantion and reason for it's great success... Something that you communists are doing a great job of fucking up...
First, I've started two successful business, you've started none, so you don't get to call me a "commie" or anything other then "successful capitalist". Now that we're done with the childish name calling, let's talk about what it takes to start a successful business based on actual experience. In my industry, I need an educated workforce. I get that, and so all the companies doing inversions, because of a taxpayer funded universal K-12 education system and taxpayer funded university system in the U.S. and the attractiveness of the U.S. to educated foreign workers. Ireland's not paying for that, Ireland doesn't have the technically educated workforce to develop the technology that the companies ostensibly headquartered there are developing, and as a result companies don't get to say "Yes, I'll take advantage of that taxpayer funded workforce U.S. and pay my taxes to Ireland instead". The same could be said for infrastructure (let me know what your experience is on the freeways, airports, and ports of Ireland?), fire, police, military, rule of law, financial system....the list goes on and on. The U.S., and every other country in the world, eventually gets around passing laws that essentially say you have the right to leave if you don't want to pay your fair share of taxes, you don't get to shop around for the cheapest tax venue. That's how rights work, they're bilateral. Freedom isn't free, you don't get to take advantage of all the sacrifices everyone else has made for you and not pay into the system. If you believe in the fierce individualist and the absence of laws and taxes, let me know how many innovative and successful companies have come out of Somalia lately? By the way, I'm glad you finally grasped the difference between a small country leaching taxes off the largest country versus a large country trying to replicate that. It's a good start.
Too long... I don't have time to read all that nonsense... I stopped at the part were you assumed something about me not having the slightest idea who I am. No point in talking to people who do that... And I called no names... Your ideas are pure socialist crap, whether you'd like to admit it or not... These are facts... Other than that...Your "successful business" could be true or not... Since there's no way to prove it and I couldn't care less about it, no point in talking about it too... And even if it were true, this doesn't have anything with what is being discussed and it doesn't change the reality of what I said, which is what you communists try to do when you can't argue against the points being made: change the subject. Bye.
Well, like I said, some concepts are nuanced and complicated and can't be covered in a one sentence pithy reply or a childish name calling exercise. One might actually have to read a couple sentences as well, I know that's tough. Welcome to the adult real world, it's a scary complicated place but nothing you can't participate in if you're willing to have an open mind. Good luck. BTW, if you want to PM me I'm happy to invite you down to my office and we can talk about starting and running companies. I'm curious to hear your thoughts on the matter, despite being a communist and all. Maybe we can compare war stories about our military service as well? And while we're at it we can talk about the most our favorite B-school professors given that we must have the common experience of attending one of the top bastion of communism business schools in the U.S.?
Do you mean the commie people? From now on, ANY time someone brings up communists, I'm gonna' post the time zone vid. After all, the commies have the whole other half of the world. Commies. Jeez, give the communist thing a rest, lol.