GM to open factory in China

This is a discussion on GM to open factory in China within the Off Topic & Humor Discussion forums, part of the The Back Porch category; Originally Posted by Aimless On a side note,not everyone wants to tax the rich so to speak.But when an avg joe pays 35% of income ...

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  1. #16
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    Quote Originally Posted by Aimless View Post
    On a side note,not everyone wants to tax the rich so to speak.But when an avg joe pays 35% of income in taxes and John q Richman pays less than 10 I can understand the irritation.
    Please post a link to your data. Otherwise I'm gonna have to call BS. <--Bogus Statistics.
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  3. #17
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    To correct another Tax "story":

    Dividends are taxed at 15% because they are paid out by corporations using after tax income. I.E. those are after tax dollars which are accumulated after a 35% corporate tax. So that $1,000 of income is taxed first ($350) at the corporate level, and $650 is paid out as a dividend taxed at 15% ($97.5) so the total tax on that $1,000 is $447.5. That is why the whining about a 15 or 20% rate is so disingenuous. That $1,000 was taxed at 44.75%

    Also don't forget Inheritances are given after a 50% Estate or Death Tax Rate, and those dollars are accumulated AFTER income taxes were paid on them. Trace $1,000 like this:

    Corporation earns $1,000 pays $350 tax
    Corporation pays $650 Dividend
    Individual receives $650 dividend
    Individual pays $97.5 tax
    Individual dies and pays 50% Death tax on $552.5 ($650 - $97.5=$552.50) Tax = $276.25

    Heirs receive $276.25 out of original $1,000 in earnings, governments keeps $723.75.

    Total tax burden WAS 72.375% plus or minus

    Now.........back to our regularly scheduled programming..............

  4. #18
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    Buy Chrystler or Ford, vote for different elected officials, enjoy your life.

  5. #19
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    So then if dividends are taxed at 15% because a company alrdy payed taxes on that money,what is the difference between that and an avg joes pay.A company charges 195$ an hr for joe to be on the job and he's payed at 50$ an hr.He should be taxed less because the company is being taxed as well for the 195$.I don't know what kind of link is wanted for the numbers above,you can use his 15% if you feel that's closer.

  6. #20
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    Quote Originally Posted by Aimless View Post
    So then if dividends are taxed at 15% because a company alrdy payed taxes on that money,what is the difference between that and an avg joes pay.A company charges 195$ an hr for joe to be on the job and he's payed at 50$ an hr.He should be taxed less because the company is being taxed as well for the 195$.I don't know what kind of link is wanted for the numbers above,you can use his 15% if you feel that's closer.
    Making up pretend numbers doesn't make it true. We like to deal in facts here on DC.

  7. #21
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    So you are saying my example is not true,or rocks numbers are not true?Could you be a little more specific about it.Cause we like to be specific here on DC.

  8. #22
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    Quote Originally Posted by Aimless View Post
    So you are saying my example is not true,or rocks numbers are not true?Could you be a little more specific about it.Cause we like to be specific here on DC.
    He was talking about dividends. You are talking about compensation for labor, also known as wages. It's two totally different things.

  9. #23
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    The company charges Joe out at $195 per hour, and pays Joe $50, so the net earnings on Joe's hour is $145, ignoring other costs.

    The company pays 35% on the $145, or $50.75, leaving the owners $94.25 to re-invest or pay out as dividends. If paid out as dividends, then the owners will pay about $14 in tax on the $94.25, so the owners will have paid $64.89 in total tax.

    Don't confuse Joe with the owners - you are comparing apples and oranges. In this example Joe would pay about $17.5 on his $50 in earnings IFF taxed at 35%, but to be honest, it is probably much less.

    Here are the actual tax rates by income level:

    Single Filing Status


    10% on taxable income from $0 to $8,500, plus
    15% on taxable income over $8,500 to $34,500, plus
    25% on taxable income over $34,500 to $83,600, plus
    28% on taxable income over $83,600 to $174,400, plus
    33% on taxable income over $174,400 to $379,150, plus
    35% on taxable income over $379,150.

    Married Filing Jointly or Qualifying Widow(er) Filing Status


    10% on taxable income from $0 to $17,000, plus
    15% on taxable income over $17,000 to $69,000, plus
    25% on taxable income over $69,000 to $139,350, plus
    28% on taxable income over $139,350 to $212,300, plus
    33% on taxable income over $212,300 to $379,150, plus
    35% on taxable income over $379,150.


    I am sorry I pulled us off topics, and if ya'll want to start a new thread, I'll jump in. This thread is about Chinese Comm-Block Chevys.

  10. #24
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    So, let me get this straight. We bailed GM out with billions of tax dollars so they could take their company to China?
    I thought a "certain someone" campaigned on keeping jobs in the US and specifically mentioned China when pointing out his opponent's "anti-American" plan.
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  11. #25
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    Much depends on which jobs are being spoken of, and whether the economics of global sales allows for lack of regional manufacturing facilities.

    If the designs and development are all done at a given spot, then, irrespective of where they're actually built, increased sales helps justify the high-salary roles of design/mechanical engineers and "product" staff.

    If the economics of a given market ensure that non-present manufacturing facilities simply cannot compete in that market, then there aren't a lot of choices for anyone wanting to compete there, short of that country's government changing the barriers to entry and economics of that region.

    The reality is both much simpler and more complicated than seen at face value. Toyota, Honda, BMW and others have shown there can be good results from regional manufacturing facilities, but the economics need to be there in order to make such a move justifiable ... above and beyond any political blowback from such moves.
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  12. #26
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    This is a non-story, IMO. GM as well as other "American" car companies have factories all over the world and it has been this way for years (its nothing new). GM has a factory in Australia. The Pontiac GTO (2004-2006) as well as the G8 was based on GM cars (Holden) that is/was made in Oz. Its also been said that Ford's most advanced factory is located in South America because our environmental laws that we have here would never allow for such a factory. Nevermind that America's muscle cars, Camaro & Challenger are made in respective plants in Canada.

    "American" car companies have plants all over the world producing car models that we have never heard of before because they never make it over here. I suspect that GM will make cars in China that will be intended for the immediate markets and the world will continue to spin on its axis.
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  13. #27
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    China refuses to let you "sell" a product in the country, unless some part or all of that product are built in China. How do you think they got all of those companies to open factories in China ? I mean, really ? Did you think it was the "labor costs" ?

    Is labor in China cheap... YES ... however NOT if they are operating a factory building your product. They pay the workers in the one I have first hand personal knowledge of, and they are considered the high end of skilled workers, .70 - $1.10 an hour. However, the US Company has to pay the Chinese Govt...... $29.80 per hour spent on their product. The Chinese Govt ... keeps the difference between what's paid, and what the laborer is paid.

    Then, there are 'some' products that are made in China...... but sold only in the USA..... China will not allow them to be sold within China. Although the people want them, the Govt won't let them .... because they're American.

    Some of the most popular cars in China... if you can find them.... and is the "girl magnet" there .... is the older American cars. One problem, they don't have many mechanics that can work on them. We helped one guy do some easy tune up work , etc. to get his Buick running good.... because it was 9 months before a mechanic could get it in.
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    Quote Originally Posted by Jeanlouise View Post
    Or the Chinese flat out stole it from us. The have no qualms about piracy, copyright infringement or stealing technology. They lie, cheat and steal while pretending to be our "friends". We're absolutely crazy to be dealing with the Chinese and some day it will come back to bite us in a big way.
    they didn't steal from us, we openly and willingly let them have it
    they are not our friends, and it has already bit us in a big way
    we are, indeed, crazy to be dealing with them in this way
    who didn't see this coming?
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  16. #30
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    We want all of those manufacturing chemicals & byproducts and industrial waste over in China rather than here.
    That way the Chinese people will become too ill and mutated and chemically contaminated from drinking their water and eating their food & breathing their air...to invade the United States and claim our country for themselves...which they pretty much already own already.
    pgrass101 likes this.

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