Corporations are over taxed?

Discussion in 'Political Opinions & Beliefs' started by OmegaEnigma, Sep 11, 2011.

  1. OmegaEnigma

    OmegaEnigma Well-Known Member

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    There seems to be some kind of weird misconception that the corporate tax rate is too high and it’s somehow killing jobs. While this may be true for smaller businesses, it’s totally false for the largest money making institutions in our country.
    If anything, it’s completely reverse, those big boy companies are taking your tax money and then laying people off, or in the case of Bank of America, giving it all to their CEOs.

    How can anyone claim taxation is hurting big business?

    [ame="http://www.youtube.com/watch?v=Qf-AqPTdVfI"]GE Pays ZERO Income Tax! - YouTube[/ame]

    [ame="http://www.youtube.com/watch?v=tVANFtEZi8I"]Bank of America Pays No Tax! US Uncut Protest @ Lake City Branch Seattle 4-18-2011 - YouTube[/ame]

    [ame="http://www.youtube.com/watch?v=ASRDb12D-M0"]Corporations Pay Less In Taxes Than YOU, Yeah YOU - M.o.C. #24 (by comedian Lee Camp) - YouTube[/ame]
     
  2. PatrickT

    PatrickT Well-Known Member

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    Thanks for your opinion. I'm sure, for you, the second highest corporate income tax in the world is a real pull to keep corporations in the U.S.

    I know Alinsky fans aren't impressed with facts when bull(*)(*)(*)(*) works so well but here are some numbers.
    http://www.taxfoundation.org/news/show/22917.html

    I know for liberals the rule is, your taxes are too low and my taxes are too high.
     
  3. Libhater

    Libhater Well-Known Member

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    How exactly are those big boys taking our tax money?
     
  4. mikezila

    mikezila New Member

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    i think he's refering to TARP funds. :confuse:
     
  5. Flag

    Flag New Member

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    Corporations pay the 2nd lowest taxes in the world.
    Proposals on how to create jobs:
    anyone?
    cut taxes on corporations.
     
  6. OmegaEnigma

    OmegaEnigma Well-Known Member

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    Well, if you took the time to look at the facts, Bank of America took 45 Billion dollars in bailout money, from the tax payers. Then they did not pay 1 cent in taxes for 2009, BUT they received 1.9 billion dollars in “Tax benefits” for 2009. Their CEO salary was 29 million dollars, and they spent 5 million dollars on political contributions.

    In 2010 GE made 14.2 billion dollars in profits, but did not pay a single dollar in taxes. Then GE got a 3.2 dollar “tax benefit” again. Now you know why we have a deficit. They cut 1/5 of their US work force, so no job creation there.

    THOSE are the facts, they can be verified at most fact check web sites. If you took the time to watch those videos, you might learn something.
    There are lots of others too, like Verizon for example and AT&T, and… you get the picture.

    Deregulation is promoted by these very same companies, and the reason is clear.
     
  7. OmegaEnigma

    OmegaEnigma Well-Known Member

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    Those tax rates do not mean a thing if the corporations can just use various tax loop holes to get out of it, which is what they do. GE even hired former IRS employees to do it for them!

    On top of that, they spend huge amounts of money on Lobbyists to bribe politicians into voting on everything in their favor. They buy the government, and the regulation changes they want! If US corporations were actually paying their fair share, we would not have a deficit in the first place. It’s really that simple.
     
  8. shhs97

    shhs97 New Member

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    As it has been pointed out. MANY times. The corporate tax rate does not matter if you allow companies to not pay it.

    You can set my tax rate to 95%...as long as I can get away with paying 0%.

    Which is what the major corporations do.
     
  9. maat

    maat Well-Known Member Past Donor

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  10. Badmutha

    Badmutha New Member

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    Because with the exception of the Corporations that sleep between Barack and Moochelle....the majority of US Corporations are overtaxed.....

    [​IMG]

    Here is where you say its all lies, and Corporations pay zero taxes, and acredit the mass exodus of US Corporations to "other reasons".
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    .......40% right off the top.....what a welcome mat....thanks Democrats!
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  11. Topquark

    Topquark New Member

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    "How can anyone claim taxation is hurting big business?"

    We have so many loopholes and tax law amendments that "taxation" is no longer subject to rational discussion. Like vehicles on the Federal highway system, "taxation" is found in a wide variety of types, makes, models, and colors with a vast selection of options and gerrymandered modifications.
    Thanks Congress, we needed that!

    Some say the corporate income tax should be abolished altogether. They claim the tax would then be passed on to stock holders. Recent history suggests it would more likely go to CEOs and others within the corporate food chain, including lobbyists who earn every dollar they return to corporate coffers.

    Here's the solution to "harmful" corporate taxation: Let's abolish the corporate income tax altogether! The tax not collected will go to someone, somewhere within the corporate food chain. That individual can then pay a personal income tax at a higher rate than would have been paid at the corporate rate.

    Here's the trade-off: Political campaign contributions may be accepted only from registered voters and only up to a specified limit for each registered voter. A corporation is legally viewed as an "individual". There is no compelling need to change this construction. However, corporations (under this same construction) do not vote. How can anyone say a corporation has a "right to contribute" when a corporation is itself a legal construction.
     
  12. Flag

    Flag New Member

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    I assume even a republican is smart enough to tell the difference between statutory tax rate and effective tax rate.

    http://reclaimdemocracy.org/corporate_welfare/real_tax_rates_plummet.php
     
  13. signcutter

    signcutter New Member

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    Ireland has he lowest tax rate of the bunch...

    Irish industrial production for July 2011 was 6.0% lower than in July 2010.

    The Central Statistics Office reported that seasonally adjusted volume of industrial production for Manufacturing Industries for the three month period May 2011 to July 2011 was 0.3% lower than in the preceding three month period.

    The “Modern” Sector, comprising a number of high-technology and chemical sectors, showed an annual decrease in production for July 2011 of 7.3% while a decrease of 3.8% was recorded in the “Traditional” Sector.

    The seasonally adjusted industrial turnover index for Manufacturing Industries was 2.6% lower in July 2011 when compared with July 2010.

    This has been going for yeaers in Ireland.. seems that having the lowest tax rate in the world only gets you a bunch of P.O boxes as company head quarters

    [​IMG]

    Most top eschelon companies dont pay any corporate tax in the U.S

    Its small business that is crushed by regs, trade policy and tax stucture... just as the mega corporations like it. They just outsource all their labor and set up corporate head quarters in places like Ireland.. we get (*)(*)(*)(*)ed... yep shed a tear for those corporations
     
  14. signcutter

    signcutter New Member

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    facts dont matter to these rubes.. they are basically religious zealots and just like a religious zealot.. facts dont mean squat.. its all about blind faith. If you have enough fath in something... no matter how stupid and self destructive it is... even failure is glorious

    One thing for sure.. there is no politician who get elected that will eliminate the giveaways in Tax law to the megacorps. I
     
  15. OmegaEnigma

    OmegaEnigma Well-Known Member

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  16. OmegaEnigma

    OmegaEnigma Well-Known Member

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    Great chart, but it still doesn’t cover the real situation, which is tax loop holes. Like it has been pointed out, it does not matter how high the corporate rate is, if the tax loop holes can allow a large, profitable company to still pay their CEOs more than they pay in taxes, which is the status for the top 25.

    [ame="http://www.youtube.com/watch?v=LJ776GfZWZo"]25 Top Earning Companies Paid CEOs More Than Uncle Sam! - YouTube[/ame]

    Republicans are the ones working for the tax robbery the most.
     
  17. maat

    maat Well-Known Member Past Donor

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  18. Badmutha

    Badmutha New Member

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    Probably because the vast majority of Coporations that were subject to a 40% Tax Rape...ARE GONE...and they took their American Jobs with them.

    ....I assume even a liberal is smart enough to realize that....but then again you voted for a President who never ran so much as a lemonade stand....so doubt shall remain.
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  19. Badmutha

    Badmutha New Member

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    ...andl the tax revenue.....which is what I thought liberals wanted.

    And do you really believe the business pain and detriment that comes with regulations, fees, everything the Democrat Party passes, fines, and taxes..... somehow disappears at the corporate level?
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  20. Badmutha

    Badmutha New Member

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    And by tax loopholes you mean "The Tax Code" and "Deductions"?

    .....so Corporations are the only ones who try to take advantage?

    Tell me, are you one of the 50% of Americans who pay no income tax? Do you take your mortgage interest deduction? Child credits and Dependents? Tell me you take zero deductions and then tell me again about tax loopholes.......
     

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