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Re: Profitable US Companies - No Taxes Paid?

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Message 101 of 110

We are in the Midst of Heated Discussions regarding Healthcare and one of the more Consistent Themes from those on the Right - is Too Much Free Healthcare to Americans who are undeserving

 

mick - I wonder if you could cite examples of someone saying that?

 

As to corporates taxes - they are just another cost of doing business, same as material, utilities, labor, etc. etc. etc. As such, they ends up in the pricing calculation. Therefore, the consumer does pay them. No unending stream of words about 1%ers, Ubberich, GOPerLords, or the rest can possibly change that reality.

 

Then there is the "Free Market Thingy" - the alternative is the "Managed Market Thingy". Preference????

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Re: Profitable US Companies - No Taxes Paid?

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Message 102 of 110

@sp362 wrote:

@ChasKy53 wrote:

You have hit a note with this. People in America claim so often that corporate taxes in America are the highest in the world and it simply isn't true, it's a fallacy. The actual rate paid is very competitive with rates around the world and are actually lower than in many other countries. As you have pointed out, many big corporations actually pay a zero tax and some have actually received billions in subsidies in excess of paying a zero tax. Some companies like General Electric actually were paid to operate in certain years, their taxes were negative by over a $Billion$ one year. 

 

It's frustrating that I pay a federal income tax on my Social Security, yet many of the largest Corporations pay a zero tax and their CEO's pay a smaller percentage in taxes than I do. America has more of a funding problem than it does a spending problem.


Let's not forget that the "All American" company General Electric employs over 50% of its work force overseas. As Kidboy pointed out, any extra costs to companies will be passed on to the consumer.  So what would you rather have:

1.Corporations paying their fair share and charging higher prices, causing consumers to choose whether or not to purchase their products?

or

2.  Citizens having to pay more taxes to make up for Corporations not paying their fair share and having no choice but to pay?


Oh but there is that "Free Market Thingy" that the Right mentions so often !!


"The only thing man learns from history is man learns nothing from history"
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Re: Profitable US Companies - No Taxes Paid?

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Message 103 of 110

@ChasKy53 wrote:

You have hit a note with this. People in America claim so often that corporate taxes in America are the highest in the world and it simply isn't true, it's a fallacy. The actual rate paid is very competitive with rates around the world and are actually lower than in many other countries. As you have pointed out, many big corporations actually pay a zero tax and some have actually received billions in subsidies in excess of paying a zero tax. Some companies like General Electric actually were paid to operate in certain years, their taxes were negative by over a $Billion$ one year. 

 

It's frustrating that I pay a federal income tax on my Social Security, yet many of the largest Corporations pay a zero tax and their CEO's pay a smaller percentage in taxes than I do. America has more of a funding problem than it does a spending problem.


Let's not forget that the "All American" company General Electric employs over 50% of its work force overseas. As Kidboy pointed out, any extra costs to companies will be passed on to the consumer.  So what would you rather have:

1.Corporations paying their fair share and charging higher prices, causing consumers to choose whether or not to purchase their products?

or

2.  Citizens having to pay more taxes to make up for Corporations not paying their fair share and having no choice but to pay?

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Re: Profitable US Companies - No Taxes Paid?

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Message 104 of 110

The 21.6% rate is a fiction. Large, profitable U.S. corporations paid an average effective federal tax INCOME rate of 12.6% in 2010, the Government Accountability Office said Monday. There are other organizations trying to conceal the fact US Corporations are the biggest tax cheats on the planet, but none has the cred of the GAO.

 

Since 2010 there's been no significant changes in the corporate tax laws or regulations, but there have been additional loopholes added by GOPers.

 

The REAL tax burden on our Corporations is LESS than 12.6% today, and yet the GOPerLords can make their dupes believe we need to cut taxes for a class of taxpayers that all to often pays NOTHING and always pays a lower rate than the average American citizen.

 

Paul Harvey said many cool things, but his aphorisms on taxation are mostly stuff that sounds nice but means nothing. If you really are paying the Corporations' taxes, why don't you pay less when the Corporation pays NOTHING?

 

Here's a question for GOPers - whenever you cut taxes, what service are you also cutting? Your masters will tell you it all comes out of fraud waste and abuse, but somehow they never identify any of those things.

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Re: Profitable US Companies - No Taxes Paid?

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Message 105 of 110

You have hit a note with this. People in America claim so often that corporate taxes in America are the highest in the world and it simply isn't true, it's a fallacy. The actual rate paid is very competitive with rates around the world and are actually lower than in many other countries. As you have pointed out, many big corporations actually pay a zero tax and some have actually received billions in subsidies in excess of paying a zero tax. Some companies like General Electric actually were paid to operate in certain years, their taxes were negative by over a $Billion$ one year. 

 

It's frustrating that I pay a federal income tax on my Social Security, yet many of the largest Corporations pay a zero tax and their CEO's pay a smaller percentage in taxes than I do. America has more of a funding problem than it does a spending problem.


"The only thing man learns from history is man learns nothing from history"
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Re: Profitable US Companies - No Taxes Paid?

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Message 106 of 110

@KidBoy2 wrote:
Call your Congress Person and ask that they change the tax laws.

Like Paul Harvey said Corporations do not pay taxes their customers are the ones that pay taxes...or words to that effect.

See....in a world economy where there were no borders, no tariffs, no sweatshops, no Caiman Island or Swiss Banks sheltering assets, KidBoy2 would have an extremely valid point...and so would H. Carl McIntire, Bill James Hargis, Phyllis Schaffly and so on and on.  That is not the world we live in.

It gets pretty complex, pretty quick when reality rears its ugly head.  Still...Corporations do find a way to pass on ALL costs involved in marketing a consumer product to the consumer..including an exhorbitant profit if they can get away with it.  Just the cost of doing business, donchasee?

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Re: Profitable US Companies - No Taxes Paid?

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Message 107 of 110
Call your Congress Person and ask that they change the tax laws.

Like Paul Harvey said Corporations do not pay taxes their customers are the ones that pay taxes...or words to that effect.
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Re: Profitable US Companies - No Taxes Paid?

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Message 108 of 110

@sp362 wrote:

Mick,

 

To add insult to injury, in addition to paying little to no tax, some of the companies on this list are also receiving taxpayer subsidies.


Hey...mick cited GE for example.  They make refrigerators and stoves and jet engines and such.

A whole bunch of products the actual taxpayers make use of in some way...got to be paid for somehow...only fair that the company that provides a 'public service' should be paid for what they do...so let the beneficiaries pay for what they use.  That's the taxpayers, donchasee?  What part of this don't you get?  And here I thought here was somebody who really understood the 'real' world. 

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Re: Profitable US Companies - No Taxes Paid?

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Message 109 of 110

Mick,

 

To add insult to injury, in addition to paying little to no tax, some of the companies on this list are also receiving taxpayer subsidies.

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Profitable US Companies - No Taxes Paid?

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Message 110 of 110

We are in the Midst of Heated Discussions regarding Healthcare and one of the more Consistent Themes from those on the Right - is Too Much Free Healthcare to Americans who are undeserving

 

How about all the US Corporations who make Millions in Profit every year and pay No Taxes - why doesn;t the Right have a problem with all these Free Giveaways of US Tax Payers Money

 

US Tax Payers pay for all the Infrastructure used by these American Corporations who Pay Nothing

 

1. Always Complaining that the United States has one of the world’s highest corporate tax levels, President Trump and congressional Republicans have repeatedly vowed to shrink it.

 

Yet if the level is so high, why have so many companies’ income tax bills added up to zero?

 

2. NEW STUDY: THE 35 PERCENT CORPORATE TAX RATE IS A MYTH FOR MANY PROFITABLE FORTUNE 500 COMPANIES

 

258 Fortune 500 Companies Were Consistently Profitable Over an 8-Year Period and Paid a 21.2 Percent Average Effective Tax Rate

 

100 companies enjoyed at least one year in which their federal income tax was zero or less

 

24 companies paid zero taxes in four out of eight years

 

18 companies (including General Electric, International Paper, Priceline.com and PG&E) paid no federal income tax over the eight-year period. 

 

Collectively, the 258 corporations enjoyed $513 billion in tax breaks over the last eight years. More than half of those tax breaks, $277 billion, went to just 25 of the most profitable corporations. 

 

Sources -

 

https://www.nytimes.com/2017/03/09/business/economy/corporate-tax-report.html?emc=edit_nn_20170310&n...

 

http://www.itep.org/corporatestudy/

 

 

( " China if You're Listening - Get Trumps Tax Returns " )

" )
" - Anonymous

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