Cummins fined $1.675 Billion for gaming their diesel emissions.

[ruffdog]

I believe corporations get to write off these fines as a loss.

 

[MoKelly]

I believe corporations get to write off these fines as a loss.

Fines paid to the government or a governmental agency for breaking the law are typically NOT tax deductible. That includes settlements.

 

[Hay Dude]

CCP must have read about that Cummins lawsuit and laughed themselves to sleep.
They break all the air pollution rules with no penalties while American Gov’t sues its own American companies out of existence.

The end result is Americans have to buy & own more Chinese stuff.

 

[lilranch2001]

CCP must have read about that Cummins lawsuit and laughed themselves to sleep.
They break all the air pollution rules with no penalties while American Gov’t sues its own American companies out of existence.

The end result is Americans have to buy & own more Chinese stuff.

Exactly!

 

[jyoutz]

CCP must have read about that Cummins lawsuit and laughed themselves to sleep.
They break all the air pollution rules with no penalties while American Gov’t sues its own American companies out of existence.

The end result is Americans have to buy & own more Chinese stuff.

Meanwhile the air in China is hazardous to breathe, causing illness and premature deaths.

 

[ultrarunner]

Meanwhile the air in China is hazardous to breathe, causing illness and premature deaths.

More accurate is parts of China experience high concentrations of air pollution.

I’m all for addressing a problem where it occurs but the world is a big place and always addressing the worst case scenario by subjecting those far removed or never involved is the definition of over reach.

One could say Los Angeles is responsible for vehicle emission standards implemented which is why I say what starts in California seldom stays in California.

 

[Hay Dude]

Meanwhile the air in China is hazardous to breathe, causing illness and premature deaths.

Wow, you’re beginning to finally get it, aren’t you?

And we have to compete in market economies with that country.
So Let’s say we compete in a market segment in which the US and China both produce a diesel engine.

Who has the advantage in building one for less money? The one which forces/penalizes it’s companies for pollution violations, or the one that allows polluting with no boundaries?

You see why myself and others here on TBN rail against our country’s leaders who are compromised by China? They sit idly by while China destroys the environment, while penalizing our companies (like Cummins), all the while buying their solar panels, electronics, windmills, engines, cars, batteries, etc?

Did you ever think it would be better to say to them “no more Dong Schlong diesel engines until we have a level playing field”?
After all, these clowns in charge of our country right now are the same ones forcing us to change our behavior or the world will come to an end because of global warming.

 

[ruffdog]

Fines paid to the government or a governmental agency for breaking the law are typically NOT tax deductible. That includes settlements.

As it should be. I wonder if cheaters like cummins were lobbying for this IRS law change in 2020 that would have allowed a deduction?

Proposed IRS Rule Allows Deduction of EPA Fines and Penalties | Law Bulletins | Taft Stettinius & Hollister LLP

 

[ultrarunner]

Know plenty of established firms that simply close up shop in the face of impending government regulation…

Sometimes it’s hard for an old dog to learn new tricks…

And then you have...

https://www.cnn.com/2023/12/27/business/daihatsu-japan-production-halt-safety-tests-intl-hnk/index.html

 

[jyoutz]

Wow, you’re beginning to finally get it, aren’t you?

And we have to compete in market economies with that country.
So Let’s say we compete in a market segment in which the US and China both produce a diesel engine.

Who has the advantage in building one for less money? The one which forces/penalizes it’s companies for pollution violations, or the one that allows polluting with no boundaries?

You see why myself and others here on TBN rail against our country’s leaders who are compromised by China? They sit idly by while China destroys the environment, while penalizing our companies (like Cummins), all the while buying their solar panels, electronics, windmills, engines, cars, batteries, etc?

Did you ever think it would be better to say to them “no more Dong Schlong diesel engines until we have a level playing field”?
After all, these clowns in charge of our country right now are the same ones forcing us to change our behavior or the world will come to an end because of global warming.

Nothing about starting to get it. Of course China has a price advantage over the U.S. with lower production costs. And they are paying a big price with their society being poisoned with no air quality and lax safety standards. Their products will always be cheaper to produce than the U.S. or Western European countries. And we either buy from China or we make products locally at a much higher cost. This is a fundamental choice that so far seems to be tilted in favor of low cost Chinese products. The tariffs were a huge failure in that they resulted in higher steel and other product costs in the U.S. Even US steel companies raised their costs, which in turn raised costs of U.S. fabricated products. Tariffs also resulted in a Chinese boycott of U.S. agricultural products.

What is the solution?
1. Make everything domestically and pay higher costs? Where do we find these workers when the U.S. is nearing full employment?
2. Make everything domestically but have no environmental or safety standards so our air and water is as poisoned as China’s? And no safety standards for workers.

There are no easy solutions, but the simple tariffs of the former administration were a failure.