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Last year, Citizens for Tax Justice found that 30 major corporations had made billions of dollars in profits while paying no federal income tax between 2008 and 2010. Today, CTJ updated that report to reflect the 2011 tax bill of those 30 companies, and 26 of them have still managed to pay absolutely nothing over that four year period
The US Govt needs to plug in loop holes that lets these companies pay nothing but use tax payers dollars for survival.
Hard-working American pay payroll taxes no matter what and yet, these companies that make billions don't pay a single dime!!!
The US Govt needs to plug in loop holes that lets these companies pay nothing but use tax payers dollars for survival.
Hard-working American pay payroll taxes no matter what and yet, these companies that make billions don't pay a single dime!!!
It's not that corporate taxes are too high.
It's marginal corporate tax rates.
These companies paid taxes.
It just wasn't to the United States.
Why pay taxes in the US where marginal rates are sky high when it's just as easy to pretend the profits were realized in another country where marginal rates are lower.
This is what happens when you high ball someone.
They do their business (realize profits) elsewhere.
Hey, just for fun, why don't you explain why Democrats didn't fix this when they controlled the entire federal government for two years and Republicans had to raise their hand to use the restroom?
Why pay taxes in the US where marginal rates are sky high when it's justr as easy to pretend the profits were realized in another country where marginal rates are lower.
This is what happens when you high ball someone.
They do their business (realize profits) elsewhere.
Hey, just for fun, why don't you explain why Democrats didn't fix this when they controlled the entire federal government for two years and Republicans had to raise their hand to use the restroom?
That's how it works now. The global economy at work.
They did nothing wrong. They followed the law and filed their taxes and took the credits the government (Fed and State) gave them.
What did they do wrong ? It was OUR GOVERNMENT that gave them the breaks.
Don't want them to get all those breaks then start paying attention to who you elect into office.
They did nothing wrong. They followed the law and filed their taxes and took the credits the government (Fed and State) gave them.
What did they do wrong ? It was OUR GOVERNMENT that gave them the breaks.
Don't want them to get all those breaks then start paying attention to who you elect into office.
I suppose the billions of dollars they spend in Washington on lobbyists and bribes and generally corrupting the government and the constitution have nothing to do with it?
I suppose the billions of dollars they spend in Washington on lobbyists and bribes and generally corrupting the government and the constitution have nothing to do with it?
Ok
If someone pays me money to corrupt a system, are they wrong for offering me the money, or am I wrong for accepting it?
Again, not sure how to be much clearer than this: The GOVERNMENT is the reason for the influence because they ACCEPT LEGAL BRIBES. Do you understand????
I suppose the billions of dollars they spend in Washington on lobbyists and bribes and generally corrupting the government and the constitution have nothing to do with it?
Ok
Quote:
We face a deficit of trust – deep and corrosive doubts about how Washington works that have been growing for years. To close that credibility gap we must take action on both ends of Pennsylvania Avenue to end the outsized influence of lobbyists; to do our work openly; and to give our people the government they deserve.
If someone pays me money to corrupt a system, are they wrong for offering me the money, or am I wrong for accepting it?
Again, not sure how to be much clearer than this: The GOVERNMENT is the reason for the influence because they ACCEPT LEGAL BRIBES. Do you understand????
Yes, I agree with you actually. Cause and effect. Both are equally guilty.
The US Govt needs to plug in loop holes that lets these companies pay nothing but use tax payers dollars for survival.
Hard-working American pay payroll taxes no matter what and yet, these companies that make billions don't pay a single dime!!!
These companies explain why they do what they do every year in their statements:
Quote:
Our consolidated income tax rate is lower than the U.S. statutory
rate primarily because of benefi ts from lower-taxed global
operations, including the use of global funding structures, and
our 2009 decision to indefi nitely reinvest prior-year earnings outside
the U.S. There is a benefi t from global operations as non-U.S.
income is subject to local country tax rates that are signifi cantly
below the 35% U.S. statutory rate. These non-U.S. earnings have
been indefi nitely reinvested outside the U.S. and are not subject
to current U.S. income tax.
Our effective tax rate was lower in 2011 than in 2010 primarily due to an
income tax charge of $150 million recorded during the first quarter of 2010 as a result of the Patient Protection and Affordable Care Act, as modified by the Health Care and Education Reconciliation Act of 2010.
We have not provided for U.S. deferred income taxes or foreign withholding tax on the remainder of undistributed earnings from our non-U.S. subsidiaries because such earnings are considered to be permanently reinvested and it is not practicable to estimate the amount of tax that may be payable upon distribution.
The effective income tax rate in 2011 decreased to 2.7% from 19.4% in
2010. This decrease was primarily driven by lower income before provision
for income taxes as a result of higher pension and benefit charges
recorded in 2011 as well as tax benefits from state valuation allowance
reversals in 2011. The decrease was also due to a one-time, non-cash
income tax charge of $1.0 billion recorded during the three months ended
March 31, 2010 as a result of the enactment of the Patient Protection and
Affordable Care Act and the Health Care and Education Reconciliation
Act of 2010, both of which became law in March 2010 (collectively the
Health Care Act).
Notice the last one. It should make it very clear what you're up against globally.
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