+1 The flipside is the case for multinational corporations. It is key to understand the difference between effective tax rates (what is actually paid net of deductions and transfer pricing) versus marginal tax rates (the "headline" rate). A lot of multinationals due to globalisation (through pitting tax jurisdictions against one another) are able to have low effective tax rates, but can claim they have high marginal tax rates back home. This global tax arbitrage is rampant: http://www.guardian.co.uk/business/2011/oct/11/ftse-100-subsidiaries-tax-havens?newsfeed=true Whether one thinks corporate tax rates are too high (or too low) at home is a separate discussion. Like any "riskless" trading arbitrage opportunity, the incentive for tax arbitrage opportunities are to push them to the max regardless of the home country tax rate. Tax arbitrage is not reasonable.
If "allowed to" is the operative phrase. Capitalism is asking permission for cash. Just like asking mommie and daddy for a raise in your allowance. That is capitalism.
If "allowed to" is the operative phrase. Capitalism is asking permission for cash. Just like asking mommie and daddy for a raise in your allowance. That is capitalism. [/QUOTE] So... understanding that... Who do we ask permission for a raise in the populace's allowance? Hmm... Congress? No. President? No. Wall Street? No. Oh... there is no mommy or daddy to ask. So who is preventing access to capital? Oh. That is understanding sucking up to the hierarchy. Nowhere to go except volcano of ashes. Stairway to Heaven. Sitting in Hotel Californication.
These people outside the Chicago Board of Trade need to take their protests to Washington...where their beloved Barry Soetero and a traitorous Congress spent $4 TRILLION USD in the past four years and achieved NOTHING. Lots of people in finance work hard for a living and are NOT BEING BAILED OUT BY ANYONE.