My company went off shore while it was still very profitable. The bigger problem that isn’t always profitably, but the US tax laws. US companies pay taxes us on foreign made profits and if we want to bring the profit money back to the US to invest in our economy we pay a second US tax. In other words, US companies are taxed twice. A foreign made product sold in a foreign company only pays local taxes on the profit of the sale meaning they can undercut US companies on pricing. My company has 70 billion dollars in foreign profits sitting in foreign banks. To bring it to the US the feds would take about 35% so we invest it in foreign plants and products. Our lawmakers need to get the message. The US, I have been told, is the only country that double taxes corporations on foreign profits.
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Today's Featured Article - Sunday Drives - by Cowboy. Summer was finally upon us here in Northern Maine. We have two types of industry up here, one being "Forestry" (Wood Products) and the other "Farming" (Potatoes). There is no shortage of farm tractors and equipment around here! I have been restoring old Farm Tractors for the past 6 years, and have found it easier and less expensive to hit all the auctions and purchase whole tractors for parts needed. My wife who works at a local school, and only has weekends and summers off, while on t
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