‘Silicon Six’ Dodged $100 Billion in Taxes Over Past Decade

Except for S corporations, personal and business taxes have nothing to do with each other. Wages and salaries paid, of course, are expenses which are deducted from revenue along with other expenses to arrive at net income. But they are separate taxes.

And half the population pays no federal income tax at all. They are the takers that receive from the doers. The famous 1% pay about 40% of all federal income tax.

The problem here is that if they were to treat investment income as regular income and tax it as such, the investments wouldn't keep up with inflation and people with investment capital would abandon the bond and stock markets. The loss of capital for business would create an economic disaster. If you could get government to stop inflating the currency, they could raise taxes on investment income. Government can't stop inflating the currency because they can't reduce spending because the economically ignorant population can't stop demanding programs and allow government to base its power on spending money.

 

Business tax returns and personal are different. Not sure what your accountant does, but all revenue must be reported.

 

Correct. The accountant does accounting. What else would you expect?

 

Just for perspective, in the year of about 2005, according to public records, I paid more in federal taxes than did GE.

 

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Income tax is not an operating expense. Companies don't raise prices if operating expenses don't go up.

 

There ain't no such thing "dodges" or "loopholes", just TAX LAW. What fools don't take advantage of every LEGAL provision contained in it?

 

Income tax is not an operating expense. Companies don't raise prices if operating expenses don't go up.[/QUOTE]

It is a reduction in profit. It appears lower on the P&L than expenses. Businesses do raise prices if profits decline. Don't apply for a job in accounting.

 

You could tax all the billionaires at whatever rate you want and won’t come close to paying for the hundreds of trillions in wishlist nonsense you posted.

 

That's republicans.

 

Hundreds of trillions??? Hilarious! Juvenile, but... still funny.

 

Yes, hundreds of trillions over a 10-year period.