[HN Gopher] Proposed 'Book Tax' Puts Burden on U.S. Manufacturers
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       Proposed 'Book Tax' Puts Burden on U.S. Manufacturers
        
       Author : maxwell
       Score  : 10 points
       Date   : 2022-08-03 17:08 UTC (5 hours ago)
        
 (HTM) web link (www.industryweek.com)
 (TXT) w3m dump (www.industryweek.com)
        
       | whatever1 wrote:
       | They will be fine, they find money for buybacks during pandemic
       | recovery, they will find for a minimum 15% tax.
       | 
       | Us, the individuals we spit out on average 23% on income taxes in
       | the US, and we also have to buy diapers.
        
         | _-david-_ wrote:
         | I haven't read much about this and article didn't say, but
         | won't this impact smaller businesses who don't do stock
         | buybacks, assuming they even have stock?
        
           | whatever1 wrote:
           | Small businesses are taxed at 21% on a federal level + state
           | taxes, so this law does not affect them.
           | 
           | It's about the big fish who hire tax optimization firms to
           | cook their books on a global scale.
        
       | barelysapient wrote:
       | I'm at the point where the news is too much and I instead read it
       | like Netflix caption:
       | 
       | "In this episode of the 117th season of the United States
       | Congress, the D's stick it to manufacturing during the annual
       | Lobbying Hunger Games. Meanwhile, the economy slips into
       | recession and new war rumors surface in the world's manufacturing
       | capital of China."
        
         | konschubert wrote:
         | Don't take all PR statements at face value.
        
       | danielfoster wrote:
       | I would love to learn more from a neutral source.
        
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       (page generated 2022-08-03 23:02 UTC)