News, What The Top U.S. Companies Pay In Taxes. (corporation, profit)

[JD59]

What The Top U.S. Companies Pay In Taxes

HOUSTON -- As you work on your taxes this month, here's something to raise your hackles: Some of the world's biggest, most profitable corporations enjoy a far lower tax rate than you do--that is, if they pay taxes at all.

What The Top U.S. Companies Pay In Taxes - Forbes.com

[kevinm]

Businesses do not pay taxes. They add the cost to their product or service and YOU pay the tax.

[studiobtm]

Originally Posted by kevinm

Businesses do not pay taxes. They add the cost to their product or service and YOU pay the tax.

Well, yes and no - read the whole article. Businesses do compete with other businesses that have different cost, including tax, structures. Business taxes in the US are the highest in the world which is one reason US corporations are moving operations (and in many cases the entire business) overseas.

The cost of doing business is also outrageous in the US. A 24 THOUSAND page tax return? Can you imagine the army of workers it takes to track the data and produce a return like that?

Economic suicide and the left keeps pushing for more. Big government (socialism) has never worked anywhere, ever, not once, but we want more more more.

I suppose I should start learning Mandarin.

[maschuette]

I must aggree with studiobtm, the US has the second highest corporate tax rate in the world, Japan's is worst. How can we expect job growth from big business while we force them to jump through hoops just to keep THEIR income. Why do we care if businesses keep their own money?

[CharleyMcGarley]

Originally Posted by maschuette

I must aggree with studiobtm, the US has the second highest corporate tax rate in the world, Japan's is worst. How can we expect job growth from big business while we force them to jump through hoops just to keep THEIR income. Why do we care if businesses keep their own money?

Not only that - but the US loses tax revenue with the high corparate taxes.

Take GE for example - they show a "loss" for the US operations but show "profit" in the overseas operations - net corporate tax revenue for the US - zero.

But since Mr. Immelt is "buddy-buddy" with the current administration - no "outrage at evil corporations" from the media.

[Consent Withdrawn]

Originally Posted by CharleyMcGarley

Not only that - but the US loses tax revenue with the high corparate taxes.

Take GE for example - they show a "loss" for the US operations but show "profit" in the overseas operations - net corporate tax revenue for the US - zero.

But since Mr. Immelt is "buddy-buddy" with the current administration - no "outrage at evil corporations" from the media.

Question: If GE is not showing a profit here in the US because of high taxes. Why did they donate over $1 million in political contributions to both parties and spend over $19 million for lobbying in 2006 alone? That's a lot of money for a corporation that made no profits.

The same question can be asked about many other large American corporations.