http://live.wsj.com/video/businesses-bur....

Quote:

Businesses Burned by Surprise Solar Tax
U.S. businesses that bought solar panels made in China earlier this year are retroactively being hit with unexpected tax bills, as they find themselves caught in the middle of a trade fight between U.S. and Chinese manufacturers. Cassandra Sweet has details on The News Hub.

Up to 225% for a product already purchased...ouch...

Further info:
http://www.investorvillage.com/smbd.asp?....

Quote:

U.S. businesses that bought solar panels made in China earlier this year are retroactively being hit with unexpected tax bills, as they find themselves caught in the middle of a trade fight between U.S. and Chinese manufacturers. Cassandra Sweet has details on The News Hub.

The U.S. government imposed the tariffs in response to a trade case started last year by the U.S. arm of German company SolarWorld AG SWV.XE -0.63%and six small U.S. solar firms. They accused Chinese solar-panel makers of receiving unfair government subsidies and selling their products in the U.S. at prices below the cost of production.

Interesting that this is their concern...solar panels...but the rest of the Chinese **** coming over that's subsidized over there is not...if we add almost zero pollution regulation as a subsidy as well, then...

Quote:

They accused Chinese solar-panel makers of receiving unfair government subsidies and selling their products in the U.S. at prices below the cost of production.

The hypocrisy! It burns!

Holy crap, I wonder if a business who bought these can claim a 4684 "disaster" loss for such retroactive claims. From my quick read of IRS regs, one can claim such a deduction in the year one discovers a theft, (meaning, that you could discover a theft some time after it occurred, you don't have to claim it in the year is supposedly happened, and it doesn't have to be a Fed-declared disaster such as a flood) AND, concludes that there is likely no possibilty of recovery, AND, the "event" creating the loss has to be illegal if it is not a natural disaster. So the question might hinge upon whether ex-post-facto laws are legal, which given the lack of any ongoing static definiton of "legal" is pretty iffy.

I just love how our government operates. Now imagine being a small business in this climate.

It has been affirmed in many court cases that it IS legal to increase taxes and/or change tax laws and have them apply to the current tax year even if the result is de facto tax retroactivity. Just to cite an example (emphases mine):

Quote:

United States v. Carlton: US Supreme Court 512 U.S. 26 (1994) . . . by vote of 9 to 0 . . . The United States sued the executor of an estate for tax liability imposed by dint of a retroactive amendment to the federal estate tax. While ex post facto laws are prohibited by Article I, section 10, of the U.S. Constitution, Calder v. Bull (1798) held the ban applicable only to the retroactive punishment of actions that were legal when carried out, or to the retrospective increase of punishment for past misconduct. In Carlton, the Court considered the extent to which retroactivity would be permitted in civil tax legislation. . . Justice Blackmun also emphasized that limited retroactivity was customary and practically necessary in producing tax legislation, and that Carlton's reliance on the original statute “is insufficient to establish a constitutional violation. Tax legislation is not a promise, and a taxpayer has no vested right in the Internal Revenue Code”

Just another example demonstrating that the Judicial Branch is merely another arm of the gov't crime syndicate that's out to screw the people whenever it suits them.

Interesting cite. Is a tariff a tax?

Plus my "argument" is that a newly inflicted punishment isn't Unconstitutional and thus voidable and banned; it is an unforeseen disaster and deductible under the tax code.

Maybe I will send the atty mentioned in the WSJ article an email.

Quote:

Is a tariff a tax?

New Oxford American Dictionary wrote..

tariff
. . . a tax or duty to be paid on a particular class of imports or exports.

Also,

Oxford American Writer's Thesaurus wrote..

tariff
. . . tax, duty, toll, excise, levy, charge, rate, fee, countervail; price list.

Also, I expect that you'd have a hard time convincing the thieves running the country that any tax is a "disaster". In their view, taxes are really positive things!

Quote:

claim a 4684 "disaster" loss

I don't think you can claim it twice.

It will count as cost/expense on the P&L.

I don't think you can count it again.

**** them...let them collect it from the chinese...just gonna put more small business out of business...dumb asses

Why wouldn't the Tax be borne by the MANUFACTURER/SELLER if this is about Chinese subsidies to the MANUFACTURER/SELLER?

The Chinese didn't subsidize the PURCHASER.

NO ONE BUYING these Products in the US was given a Rebate or a Subsidy by the Chinese Government.

Congr*******s ****ing over American Businesses/Citizens in an attempt to make a point to Chinese Businesses/Citizens who won't get the message as they aren't the Target for the this putative Tax is a pure idiocy.

I'm not even gong to ask how throwing Millions of Dollars down ratholes like Solyndra are NOT eqivalent to what is being decried here...

The US does not have the capability to tax the Chinese manufacturer or seller directly.

The purpose of this tariff is to raise the price to the final user so much that it is not in his interest to buy the Chinese stuff. Taxing the buyer works just fine to do that, and the gov't does have the capability to do that.

The retroactivity does nothing to discourage purchases already made, however, it just screws the buyers who already bought. It does bring in tax revenue, so the gov't doesn't give a damn.

it breaks previous contracts...its patently illegal

"it breaks previous contracts...its patently illegal"

Not according to Peterm99's quote ".......Tax legislation is not a promise, and a taxpayer has no vested right in the Internal Revenue Code."

Most congress members lack the foresight and wisdom to see what their policies will do to the American small business. Congress is at first slowly and now quickly eroding their credibility with small businesses (and most Americans) When small business views congress as nothing but crooks and cheats small businesses will also not play by the rules. This is Greece syndrome in action. Good luck with that tax revenue...