Comments on: Obama’s hamburger problem http://blogs.reuters.com/david-cay-johnston/2012/03/08/obamas-hamburger-problem/ Sat, 23 Mar 2013 13:49:31 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: buckaroo5 http://blogs.reuters.com/david-cay-johnston/2012/03/08/obamas-hamburger-problem/#comment-1439 Sun, 10 Jun 2012 18:41:49 +0000 http://blogs.reuters.com/david-cay-johnston/?p=319#comment-1439 The President,as leader of his party, once again expressed that every American should pay his fair share in taxes. One sizable loophole in the Federal Tax Code is TAX EXCLUSION INCOME. It is time to do something about this unfair tax revenue placed disproportionately on small business & especially the self-reliant. The President is correct we are all in this mess together. It is time to correct the inequity of Tax Exclusion income for some rather than for all workers earning income & paying taxes on all received income. There is no reason for this inequity especially after the President many request for equity.

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By: RyanDonovan1 http://blogs.reuters.com/david-cay-johnston/2012/03/08/obamas-hamburger-problem/#comment-1313 Thu, 03 May 2012 15:10:12 +0000 http://blogs.reuters.com/david-cay-johnston/?p=319#comment-1313 Classification will definitely be a problem with a special tax break for manufacturers. A more basic problem with this tax break is: why should the government favor manufacturing over other kinds of economic activity? Why is it better or more valuable to build cars than hamburgers? Why are either of those better or more valuable than delivering a package or writing a book? This will be added to the great heap of exceptions and exclusions that is our tax code, each defying the widely accepted wisdom that the base should be broader and the rates lower.

You note one kind of economic activity that may be less useful to the economy – lawyers, accountants, economists and historians arguing over the meaning and application of the law. Good point, but do you have to make those guys look like the Reservoir Dogs?

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By: RyanDonovan1 http://blogs.reuters.com/david-cay-johnston/2012/03/08/obamas-hamburger-problem/#comment-1312 Thu, 03 May 2012 15:06:47 +0000 http://blogs.reuters.com/david-cay-johnston/?p=319#comment-1312 Classification will definitely be a problem with a special tax break for manufacturers. A more basic problem with this tax break is: why should the government favor manufacturing over other kinds of economic activity? Why is it better or more valuable to build cars than hamburgers? Why are either of those better or more valuable than delivering a package or writing a book? This will be added to the great heap of exceptions and exclusions that is our tax code, each defying the widely accepted wisdom that the base should be broader and the rates lower.

You note one kind of economic activity that may be less useful to the economy – lawyers, accountants, economists and historians arguing over the meaning and application of the law. Good point, but do you have to make those guys look like the Reservoir Dogs?

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By: blocke http://blogs.reuters.com/david-cay-johnston/2012/03/08/obamas-hamburger-problem/#comment-1206 Fri, 23 Mar 2012 18:38:10 +0000 http://blogs.reuters.com/david-cay-johnston/?p=319#comment-1206 The claim that people who complain about Romney’s work at Bain Capital are anti-capitalist is FALSE. Capitalism can be both creative and destructive and don’t let people confuse you with that creative-destructive bull. Bain Capital is a good example of what I call “Management from Hell: How Financial Investor Logic Hijacked firm governance.” It is destructive not creative — as in the deline of the American manufacturing firm. Engineers know this, that is why they have been so upset with the direction sterile investor caitslism a la Bain has taken our country.

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By: TheOldSodbuster http://blogs.reuters.com/david-cay-johnston/2012/03/08/obamas-hamburger-problem/#comment-1170 Wed, 14 Mar 2012 01:21:56 +0000 http://blogs.reuters.com/david-cay-johnston/?p=319#comment-1170 “For example, mixing water and concentrate to produce soft drinks is classified as manufacturing. However, if that activity is performed at a snack bar, it is considered a service.”

In the economy today, with production so efficient with the engagement of robots and the internet, folks are looking to make money however they can, the skim, or the dodge.

Just like many headlines today are of court cases and government announcements. Frankly, we got enough stuff. What we need is effective distribution so there is less desperation. A 21 hour work week which nef – the new economics foundation proposes is a start.

We cannot expect to regain what was happening during the bubble. We ought to get our collective head around the abundance we have, and learn to share it. Or we will strip the earth bare trying to ‘grow’ our way to prosperity.

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By: MiddleWest http://blogs.reuters.com/david-cay-johnston/2012/03/08/obamas-hamburger-problem/#comment-1169 Tue, 13 Mar 2012 15:43:03 +0000 http://blogs.reuters.com/david-cay-johnston/?p=319#comment-1169 In this case a new word is needed. This reduced tax should begin with goods that are created.

Manufacturing or Assembly will always occur closest to the buyer- look at home furnishings that are now manufactured/assembled at home.

A reduced tax on goods that are created in country will lead to more goods created in country.

Creating parts of a whole closest to where they are used is important for local jobs and can only inspire more efficient ways of creation.

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By: robb1 http://blogs.reuters.com/david-cay-johnston/2012/03/08/obamas-hamburger-problem/#comment-1168 Mon, 12 Mar 2012 22:36:01 +0000 http://blogs.reuters.com/david-cay-johnston/?p=319#comment-1168 The US industrial classification of products and services clearly identify manufacturers, importers and services.

I do not see a great problem for all companies that in good faith are already classified properly (as another poster noted).

Yes, you might have someone trying to stretch the concept of manufacturing, but is a common interpretation problem in any tax code aspects. Like trying to deduct a vacation as a business trip.

We need more competitive tax rates for manufacturers to compete globally. And the savings will increase jobs and salaries, not only the corporate bottom line.

Thank you Mr. President for addressing the issue.

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By: akamai1 http://blogs.reuters.com/david-cay-johnston/2012/03/08/obamas-hamburger-problem/#comment-1167 Mon, 12 Mar 2012 18:32:56 +0000 http://blogs.reuters.com/david-cay-johnston/?p=319#comment-1167 Exclude consumables from “manufacturing”. Hamburger problem solved.

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By: pdxuser http://blogs.reuters.com/david-cay-johnston/2012/03/08/obamas-hamburger-problem/#comment-1166 Sun, 11 Mar 2012 05:17:10 +0000 http://blogs.reuters.com/david-cay-johnston/?p=319#comment-1166 The government already has an official classification of manufacturing, most famously used in reporting manufacturing jobs each month. Problem solved.

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By: curleybrothers http://blogs.reuters.com/david-cay-johnston/2012/03/08/obamas-hamburger-problem/#comment-1164 Sat, 10 Mar 2012 00:55:27 +0000 http://blogs.reuters.com/david-cay-johnston/?p=319#comment-1164 All you have to do is looking at the current domestic production activity deduction. The lobbyist had the law bend enough to help the construction industry, engineering firms, excavation, etc. Using the construction of real property test, just about every contractor can get a piece of the action.

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