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Portland's CEO Tax - Rotobeast - 01-09-2017 This was passed in December, but I didn't see it posted. I understand the thought behind it, but I think they'll force jobs out of the area. That or CEO's will use loopholes, like a $1 salary and the rest dividends, ect.. https://www.google.com/amp/www.forbes.com/sites/kellyphillipserb/2016/12/19/portland-plans-to-tax-companies-who-pay-ceos-100-times-more-than-workers/ Quote:Portland Plans To Tax Companies Who Pay CEOs 100 Times More Than Workers RE: Portland's CEO Tax - Benton - 01-09-2017 http://money.cnn.com/2016/04/13/pf/taxes/gao-corporate-taxes/ Quote:Nearly 20% of large U.S. corporations that reported a profit on their financial statements in 2012 ended up paying exactly nothing in U.S. corporate income taxes. http://fortune.com/2016/10/06/fortune-500-tax-haven/ Quote:According to a new report from the progressive group Citizens for Tax Justice (CTJ), America's largest companies by revenue are stashing a record $2.5 trillion in overseas "tax havens," up $400 million from last year's count. As long as that money remains offshore, these companies can avoid paying U.S. corporate tax on those profits, a dynamic that CTJ argues disadvantages smaller American companies without foreign subsidiaries; domestic-only firms often have to pay the full 35% corporate tax rate—among the highest in the world—in addition to state corporate taxes. They'll just consider it more of a loss and have more to write off at the federal level. RE: Portland's CEO Tax - Rotobeast - 01-09-2017 (01-09-2017, 11:47 AM)Benton Wrote: http://money.cnn.com/2016/04/13/pf/taxes/gao-corporate-taxes/Man....that's insane. RE: Portland's CEO Tax - Benton - 01-09-2017 (01-09-2017, 12:34 PM)Rotobeast Wrote: Man....that's insane. It is. And a little off topic from your post (sorry about that) but goes along with the point that large companies — like the ones this law targets — know how to work the system. Guys like the incoming POTUS have a system designed to save them millions, their companies billions. It makes it nearly impossible for small businesses to compete and difficult for small corporations who can't just legally hide money. RE: Portland's CEO Tax - Yojimbo - 01-09-2017 There Is a tax nationally for companies paying CEOs a million dollars or more, but congress slipped a nice loophole into that bill in the 90's that didn't tax anything that was considered a "performance bonus". http://www.politico.com/agenda/story/2016/08/bill-clinton-ceo-pay-reform-000195 |