Posted by bad_luck on 6/25/2014 2:44:00 PM (view original):
Posted by moy23 on 6/25/2014 2:39:00 PM (view original):Pay Dimon $400,000 a year and the bank will have no problem complying with the law.
Posted by bad_luck on 6/25/2014 1:38:00 PM (view original):Laughable.
Posted by moy23 on 6/25/2014 1:28:00 PM (view original):Pay the employees better. It will be easy when you aren't paying CEOs $10,000 an hour.
Posted by bad_luck on 6/25/2014 1:15:00 PM (view original):If I ever thought you came up with dumb ideas.... This guy just took the cake. You don't just want jobs to leave the country you want entire Busiesses to leave the country.
Posted by tecwrg on 6/25/2014 1:02:00 PM (view original):It's not great for the people losing jobs but it's legal and rational. I'd prefer we put policies in place to slow jobs moving overseas.
Posted by bad_luck on 6/25/2014 12:59:00 PM (view original):Sounds like you have no problem with companies sending jobs offshore.
Posted by tecwrg on 6/25/2014 12:50:00 PM (view original):It's not evil. But any company (at least a public company) is essentially obligated to their shareholders to take jobs overseas if it makes financial sense. Cutting the corporate tax, a tax that most large companies are able to, at least partially, get around, doesn't come close to offsetting the gap between the labor cost of an American worker and the cost of an overseas worker.
Posted by bad_luck on 6/25/2014 12:41:00 PM (view original):Companies take jobs oversees in order to reduce expenses. Lowering or eliminating corporate taxes would significantly reduce expenses, offsetting the "burden" of US labor costs.
Posted by toddcommish on 6/25/2014 11:26:00 AM (view original):Companies take jobs overseas to avoid US labor costs, mostly. There is no tax rate low enough to make US employees attractive when Chinese workers can do the job for $1.50 an hour.
And lowering (or eliminating) corporate taxes will keep some of those businesses in the US rather than fleeing to other countries with more corporation-friendly tax laws, which means MORE jobs which means MORE tax revenue.
Liberals always seem to miss that point when crying for higher corporate taxes.
Unless you think all corporations are evil, and will still go offshore anyways, no matter what.
Bill James's idea might do that:
You had just said companies send jobs offshore for cost savings.... So with this guys 10:1 idea either we raise employees making $10/hr to $100/hr which means to outsource labor becomes even more enticing.... Or we leave labor at $10/hr which means a CEO will only make $100/hr. Who will sacrifice the time and stress it takes to run a large business for that little sum of money?
So let's say Jamie Dimon gave up all his income for 1 year.... $20 million divided by 255,000 employees means that each employee will make an additional $78 that year... Or $0.03 per hour if they work a 40 hr week.
So how will it be easy?
Except that no one in their right mind takes that job, the hours, the travel, the stress for $400,000. He has the livelihood of 255,000 employees that he is responsible for. Can't say the same for tom cruise or peyton manning who make twice as much money as Dimon.
Besides ... He can move to London and make $20 million there doing the same thing. There are plenty of foreign owned banks operating in the US... BMO, RBS, RBC, Banco Popular, HSBC, Barclays...