here's what high taxes do to businesses....

[newtothegame]

California companies fleeing the Golden State


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By Tami Luhby (tami.luhby@turner.com) @CNNMoney (http://twitter.com/CNNmoney) July 12, 2011: 12:51 PM ET

NEW YORK (CNNMoney) -- Buffeted by high taxes, strict regulations and uncertain state budgets, a growing number of California companies are seeking friendlier business environments outside of the Golden State.
And governors around the country, smelling blood in the water, have stepped up their courtship of California companies. Officials in states like Florida, Texas, Arizona and Utah are telling California firms how business-friendly they are in comparison.

http://money.cnn.com/2011/06/28/news/economy/California_companies/index.htm?iid=Lead


But fear NOT dems...keep raising them...I am sure this is just an mirage lol

[The Judge]

maybe thing will change and companies will get their "free grants" on time.

James Sheppard, CEO & Co-Founder of Vetrazzo said a contributing factor was that the Schwarzenegger administration put a state grant on hold for nine months "causing us tremendous capital planning challenges . . . . One may argue that the State should not have been in the business of providing grants to growing companies. However, right or wrong, when a contract is signed, the commitment should be kept. Businesses need to be able to plan." It isn't known how much Polycor paid to buy the company. See the June 6, 2010 story:

At Least some of the CNN article if not all is based on information provided by Joseph Vranich who labels himself as "Business Relocation Coach". Some of the companies that " left California" have a such a poor sense of direction they completely missed TEXAS,FLORIDA, AND UTAH, and ended up in Panama, Mexico and the Philippines.

http://thebusinessrelocationcoach.blogspot.com/2010/10/california-companies-moving-away-or.html 10/12/2010


A link provided in the Vranich blog

http://articles.latimes.com/2010/oct/06/business/la-fi-jobs-offshoring-20101006


PwC, the big accounting firm formerly known as PricewaterhouseCoopers, last spring and summer laid off about 125 support staff members in client services, transferring the work to URURGAY. Those positions were considered mid-level.


Challenger agrees with that logic, but he also said that some companies continue to engage in "pure labor arbitrage," moving overseas simply for cost savings. That kind of rationale may do little for building long-term value in the company or its products and services.

[Robert Goren]

Our Republican governor keeps say that they will come here because of our tax laws. So far the only thing that has happened is him appearing on some national TV shows. No new business. He made a fool of himself chasing Caterpillar. A couple of business took the state for a ride before fleeing to Asia for dollar a day labor. Our state's tax laws are like a lot of states's. They are designed to try to steal some other state's business. This state does nothing for the guy trying to start his own non retail business. Unfortunately I think that is the case in a lot of states.

[pandy]

A lot of liberals don't understand this. I have liberal friends who are intelligent and smart and they insist that it's wise to raise taxes on high income earners. But we know from experience that does not work, especially on the state level, because people and businesses just get out of dodge. They do it in NY, NJ, and now California. The revenues that the politicians think they're going to get from the higher taxes never materialize because the taxable income actually drops.

[The Judge]

maybe Warren Buffett just doesn't understand! Then again maybe its not him that fails to understand.


Adviser Soapbox
Warren Buffett's Tax Fetish
Vahan Janjigian, Forbes Growth Investor 05.01.08, 10:24 AM ET

It may seem a bit odd that Warren Buffett, one of the greatest capitalists the world has ever seen, resides firmly in the liberal camp when it comes to tax policy.

Buffett favors higher taxes on both income and wealth. His writings call for higher income taxes at the corporate level and more progressive income taxes at the personal level.

http://www.forbes.com/2008/05/01/buffett-vahan-janjigian-pf-ii-in_ty_0430soapbox_inl.html

[benzer]

A lot of liberals don't understand this. I have liberal friends who are intelligent and smart and they insist that it's wise to raise taxes on high income earners. But we know from experience that does not work, especially on the state level, because people and businesses just get out of dodge. They do it in NY, NJ, and now California. The revenues that the politicians think they're going to get from the higher taxes never materialize because the taxable income actually drops.
Exactly correct.

[benzer]

maybe Warren Buffett just doesn't understand! Then again maybe its not him that fails to understand.


Adviser Soapbox
Warren Buffett's Tax Fetish
Vahan Janjigian, Forbes Growth Investor 05.01.08, 10:24 AM ET

It may seem a bit odd that Warren Buffett, one of the greatest capitalists the world has ever seen, resides firmly in the liberal camp when it comes to tax policy.

Buffett favors higher taxes on both income and wealth. His writings call for higher income taxes at the corporate level and more progressive income taxes at the personal level.

http://www.forbes.com/2008/05/01/buffett-vahan-janjigian-pf-ii-in_ty_0430soapbox_inl.html
Warren Buffett's stance on a lot of things have changed in the last few years. Does not make him correct.

[GameTheory]

Warren Buffett has said and written a lot of dumb things. Don't confuse skill in one area with general expertise or wisdom...

[The Judge]

General Electric (NYSE: GE ) , for example, hasn't paid any U.S. federal corporate tax at all for the last two years. The company has even received an IRS tax benefit of $4.1 billion over the last five years, a period in which the company made $26 billion in profits. This is how it works for GE: Its GE Capital division has two parts, a money-losing domestic part, and a money-making overseas part. The overseas profits can be deferred from U.S. taxes indefinitely, and the domestic losses can be used to offset GE's U.S. taxes. Neat, huh?


http://www.forbes.com/2008/05/01/buffett-vahan-janjigian-pf-ii-in_ty_0430soapbox_inl.html

[ElKabong]

Our Republican governor keeps say that they will come here because of our tax laws. So far the only thing that has happened is him appearing on some national TV shows. No new business. He made a fool of himself chasing Caterpillar. A couple of business took the state for a ride before fleeing to Asia for dollar a day labor. Our state's tax laws are like a lot of states's. They are designed to try to steal some other state's business. This state does nothing for the guy trying to start his own non retail business. Unfortunately I think that is the case in a lot of states.

What is Neb's unemployment rate? What is Cali's rate? Which state has the most accelerated rate of unemployment the past 10 yrs?

[ElKabong]

General Electric (NYSE: GE ) , for example, hasn't paid any U.S. federal corporate tax at all for the last two years. The company has even received an IRS tax benefit of $4.1 billion over the last five years, a period in which the company made $26 billion in profits. This is how it works for GE: Its GE Capital division has two parts, a money-losing domestic part, and a money-making overseas part. The overseas profits can be deferred from U.S. taxes indefinitely, and the domestic losses can be used to offset GE's U.S. taxes. Neat, huh?


http://www.forbes.com/2008/05/01/buffett-vahan-janjigian-pf-ii-in_ty_0430soapbox_inl.html

Obama has richly rewarded GE's CEO for this....

[The Judge]

Buffett lacks skill when it comes to speaking on corporate taxes is that what I am hearing? Well what about those 2,000 lawyers and accountants who own his stock, one would think they might know a thing or two about the old tax code and would throw him a bone from time to time.

Then again maybe those 2,000 accountant/tax lawyers Berkshire shares holders trust Warren's and his team of accountants and like what he says.

Buffett doesn't know corporate taxes that's a good one. No he knows it all to well that's how he knows they should be paying more its the cost of being a "good American Company".

[Robert Goren]

What is Neb's unemployment rate? What is Cali's rate? Which state has the most accelerated rate of unemployment the past 10 yrs?A better question would be what is the average wage here and what is it in California. A great job here is one that $2 over the minimum wage. Every year for least the 20, the governor says in his state of the state speech that one of Nebraska's biggest problem is the brain drain. That is new college grads fleeing the state for better paying jobs. Even with Nebraska's low unemployment numbers compared to California's, I have not meet one person who has moved here from California. In fact the only place I have meet someone moving here from is Texas. But I represent a pretty small sample because I don't get around as much as I use to.

[ElKabong]

A better question would be what is the average wage here and what is it in California. .

Nah, I like my question better. :)

Nebraska doesn't have a beach. You don't have mountains. You don't have forests. It does have its own charm, but it doesn't have the natural beauty or resources some other states have. It's hard to attract corporations' HQ's to Omaha or Hastings...

What Nebraska HAS been successful at, is holding the line on unemployment. California OTOH is dying on the vine in this regard, and, they're losing what they have to other states....Nebraska hasn't had that problem.

GWB was great for Texas in this regard. He recruited businesses, mainly from top 5 states in terms of state taxes on corps, with a lot of passion and vigor. Paid off. Even with some of our problems (illegals, mostly) the fact our tax base has grown has been a tremendous boom for us the past 15+ yrs.....Being business-friendly is the reason we have a financially diverse economy now vs the early 1960s

[Robert Goren]

Buffett lacks skill when it comes to speaking on corporate taxes is that what I am hearing? Well what about those 2,000 lawyers and accountants who own his stock, one would think they might know a thing or two about the old tax code and would throw him a bone from time to time.

Then again maybe those 2,000 accountant/tax lawyers Berkshire shares holders trust Warren's and his team of accountants and like what he says.

Buffett doesn't know corporate taxes that's a good one. No he knows it all to well that's how he knows they should be paying more its the cost of being a "good American Company".I know of no other company whose shareholders hold its CEO in as high of regard as Berkshire's does of Buffet. I know 2 people who stock in Berkshire. They both regularly get him confused with God. He has made them a lot of money over the years. I might suggest that some of you stop listening to CEOs who can't hold a stick to him when it comes to making money for his shareholders. Also you might want to sell some their company's stock and buy some Berkshire. I can guarantee that you be a lot smarter and richer in the long run.

[Robert Goren]

Nah, I like my question better. :)

Nebraska doesn't have a beach. You don't have mountains. You don't have forests. It does have its own charm, but it doesn't have the natural beauty or resources some other states have. It's hard to attract corporations' HQ's to Omaha or Hastings...

What Nebraska HAS been successful at, is holding the line on unemployment. California OTOH is dying on the vine in this regard, and, they're losing what they have to other states....Nebraska hasn't had that problem.

GWB was great for Texas in this regard. He recruited businesses, mainly from top 5 states in terms of state taxes on corps, with a lot of passion and vigor. Paid off. Even with some of our problems (illegals, mostly) the fact our tax base has grown has been a tremendous boom for us the past 15+ yrs.....Being business-friendly is the reason we have a financially diverse economy now vs the early 1960s Nebraska's tax base has shrunk in the last few years. The joke here is "Nebraska is Business's gateway to building in China. Lincoln has lost 2 "thousand plus employers" to China in the last year. They took a big hunk of city and state subsidy money with them. Those companies might be small potatos in Texas or California, but here they were a big deal even though their average non management wage was about 25k a year.

[ElKabong]

Nebraska's tax base has shrunk in the last few years. The joke here is "Nebraska is Business's gateway to building in China. Lincoln has lost 2 "thousand plus employers" to China in the last year. They took a big hunk of city and state subsidy money with them. Those companies might be small potatos in Texas or California, but here they were a big deal even though their average non management wage was about 25k a year.


so how does Neb's unemployment rate stack up vs Cali's?