UAW warns Ford Avon Lake workers that company plans to move future project to Mexico

The Sound Guy said:
With Biden and company proposing that the corporate tax rate go back up to 28% is anyone surprised?
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That's the reason right there. We will be seeing more manufacturing leaving the US with a corporate tax increase. The Democrats make these bonehead decisions with full knowledge of the adverse affects they cause, but it doesn't matter to them. They want the vast majority of people to be dependent upon the government so they can control them.
 
Unless Ford pulls an inversion, or the US changes tax law, their tax liability is likely to remain about the same. The US still has a global tax scheme, unlike our competitors. This means that profits earned abroad are taxed at the same rate as domestic profits when they are repatriated. Changing that would end the penalty for bringing global profit back here. This is a destructive longstanding tax policy that neither the Dems or Reps seem too want to change.
 
lotstodo said:
Unless Ford pulls an inversion, or the US changes tax law, their tax liability is likely to remain about the same. The US still has a global tax scheme, unlike our competitors. This means that profits earned abroad are taxed at the same rate as domestic profits when they are repatriated. Changing that would end the penalty for bringing global profit back here. This is a destructive longstanding tax policy that neither the Dems or Reps seem too want to change.
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But that is the whole rub... they will not repatriate the money. That is how the USA becomes what it did under 0BaMa...
 
Far West said:
But that is the whole rub... they will not repatriate the money. That is how the USA becomes what it did under 0BaMa...
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I'm not exactly sure when the US adopted a global tax scheme, but I'm pretty sure it was in the 1986 tax reform act. It may have existed before then too. At any rate, it existed long before Obama. If you remember, W had a tax repatriation holiday after 9-11 in an effort to spur growth, but nobody had the balls to drop the scheme altogether.
 
lotstodo said:
I'm not exactly sure when the US adopted a global tax scheme, but I'm pretty sure it was in the 1986 tax reform act. It may have existed before then too. At any rate, it existed long before Obama. If you remember, W had a tax repatriation holiday after 9-11 in an effort to spur growth, but nobody had the balls to drop the scheme altogether.
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I thought the Trump administration dropped that tax penalty allowing companies to bring back their monies to the USA without the heavy penalty, and that was one reason manufacturing was starting here again?

J-man said:
Maybe the Union will help out the Mexican workers.
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Maybe some Ohio residents will decide to say screw the USA, I'm heading to Mexico to work for Ford... where the cost of living is low and it does not snow. Aren't we all dreading the next 4 years under the doddering fool and the corrupt Marxists that puppet him?
 
Far West said:
I thought the Trump administration dropped that tax penalty allowing companies to bring back their monies to the USA without the heavy penalty, and that was one reason manufacturing was starting here again?


Maybe some Ohio residents will decide to say screw the USA, I'm heading to Mexico to work for Ford... where the cost of living is low and it does not snow. Aren't we all dreading the next 4 years under the doddering fool and the corrupt Marxists that puppet him?
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There was talk about it, but it wouldn't get through Congress so it went nowhere.
 
lotstodo said:
There was talk about it, but it wouldn't get through Congress so it went nowhere.
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Interesting, thanks for clarifying... I thought it was implemented and that is why manufacturing was increasing because they could repatriate the money back to the USA.
 
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