Forum
Green Jobs Swindle
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deadcode wrote
at 1:55 PM, Thursday September 8, 2011 EDT
A ton of that money that went to "green jobs" is now being found to be a pretty bad investment.
Go figure; the chinese are kicking our ass because their labor is less expensive and lower taxes. FBI just raided one of Obama's favorite solar companies that he praised on the campaign trail. Seems they took 500 million in stimulus and now are filing for bankruptcy. Had to fire 800 or so employees too; wonder how much Obama claims he "saved" on this one. http://www.washingtontimes.com/news/2011/sep/8/fbi-raids-solar-panel-company-hailed-by-obama/ |
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deadcode wrote
at 1:56 PM, Thursday September 8, 2011 EDT 500k not 500m*
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Thraxle wrote
at 2:12 PM, Thursday September 8, 2011 EDT No, you had it right the first time.
$535 million |
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Ichiro wrote
at 2:24 PM, Thursday September 8, 2011 EDT "Go figure; the chinese are kicking our ass because their ... lower taxes."
LOL, I hope you're kidding about that little nugget. |
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deadcode wrote
at 2:31 PM, Thursday September 8, 2011 EDT Ichiro; corporate tax in the USA is 35% for federal and then an additional amount based on what state you live in.
Chinese pay 25% corporate tax. |
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deadcode wrote
at 2:33 PM, Thursday September 8, 2011 EDT And foreign companies in China get a 10% deduction on capital gains tax.
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deadcode wrote
at 2:34 PM, Thursday September 8, 2011 EDT This makes capital gains tax in Chine 10% for foreign business.
Compared to 15%-35% for USA companies. |
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deadcode wrote
at 2:34 PM, Thursday September 8, 2011 EDT I'd say my point is pretty clear by now.
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deadcode wrote
at 2:38 PM, Thursday September 8, 2011 EDT Here is the USA vs the rest of the world.
Now you can begin to see why we have a job problem... we scared all the job creators away... http://upload.wikimedia.org/wikipedia/commons/thumb/3/36/Income_Taxes_By_Country.svg/800px-Income_Taxes_By_Country.svg.png |
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Ichiro wrote
at 3:01 PM, Thursday September 8, 2011 EDT First: China is not on your list.
Second: If you are going to use a graph to argue the virtues of capitalism, you probably should use one where the best countries aren't all socialist. Third: Corporate Tax Rates and actual Corporate Taxes paid are two very different things. Enterprise Tax is China is 25% + up to 20% Income Tax depending on industry. Personal Income Tax is up to 45%. And they have a national VAT Capital Gains in the US is limited to 15% How are you going to get labor costs to compete with China when most of their population makes under $500 per month. Most "enterprises" in China are public industries. Almost all are subsidized by the government. China gives targeted subsidies to industries that can't undercut their foreign counterparts as is the case in Solar. |
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MadHat_Sam wrote
at 3:08 PM, Thursday September 8, 2011 EDT China has cheap labor because they have a shit standard of living, for fucks sake make a more intellectually dishonest reason for the price of labor between the US and China.
As for the lower taxes, can you prove that the amount of waste and corruption that companies put up with in China for the cheap cost of labor and capital is less than the difference between the corporate tax rates in the two countries. Companies move to China because land is cheap, labor is cheap, and besides looking good for the Olympics China doesn't really care if companies destroy the environment. The green jobs initiative was a pretty poorly executed program though, you could have made a good argument about that without obfuscating the point with the idiotic appeal to the libertarian bliss that is China ::eye roll:: |
