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Old 04-17-2010, 02:36 PM
 
Location: Great State of Texas
75,038 posts, read 35,833,906 times
Reputation: 18161

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Quote:
Originally Posted by Wapasha View Post
Now maybe people will see why its profitable for giant corporations to get in bed with the federal government and their Global Warming agenda, and it helps to have their CEO as an advisor to the president.

...and here I thought it was under republican presidents that the big corporations got rich.
Denial, deflection and of course "it's Bush's fault".

What the Dems don't realize is that their elected officials have found that corporations are better to do business with than the masses.

Greed has no party affiliation.
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Old 04-17-2010, 02:42 PM
 
11,962 posts, read 7,657,542 times
Reputation: 2772
Quote:
Originally Posted by thecoalman View Post
Hmmm, interesting because it's around 45% anyway.
Hmmm interesting because I worked oil industry and know damned well none of them paid even close to that number. One did brag zero in shareholder report during a clinton year, republican congress. Those clowns weren't really in the oil biz as much as they were in the shell game business.
Quote:
Originally Posted by thecoalman View Post
Your gas would go up. Companies don't pay taxes, they are just tax collectors.
You gas will go up even if taxes went down. Why? Because they can and you don't have a choice because it's one vat of product controlled by one vat of price fixers.

Just because they find a way to shift BS around doesn't make it right, and doesn't mean it can't be corrected. Your apathy would replace congressional seats with corporate entities writing legislation. They're half way there already and we've seen enough damage.

Quote:
Originally Posted by HappyTexan View Post
Over a year old..but very telling..GE doesn't care WHO is President or WHAT party they belong to.
They spend millions on lobbying each year..all to benefit themselves.

Immelt being on Obama's Recovery Board doesn't help..definitely a conflict of interest since GE got bailout money.

Obama’s hidden bailout of General Electric | Washington Examiner (http://www.washingtonexaminer.com/politics/Obamas-hidden-bailout-of-General-Electric_03_04-40686707.html - broken link)

"In short, GE plans to get rich by being one of the government’s closest partners — which it has always been, thanks to its unmatched lobbying efforts."
More correct than you realize in your first sentence. Does it sound fair to you that GE has had to be 5 different companies to endure the energy tug of war going on in american politics? Think your company can outdo that magic trick for permission to do business in USA? If you mean to keep coal, we've got your coal burning plants right here. If you mean to have windmills, why here they are handy designs waiting for production! Solar too! We also have made huge strides in medical diagnostics equipment that's selling like hotcakes overseas. How can I help you with your obviously aging infrastructure and long term neglect? You're broke? No problemo, we'll sell everything we've got to 3rd world.

I've always gotten a better deal on a new car when I wasn't desperately in a hurry to replace my old one. So how desperate shall we become before we move ahead? When the price of copper is triple?

Lobbyists needed in DC? Campaign finance money needed for either dem or repub or indie parties? How about we cut their taxes by prohibiting lobbyist influence, ending campaign donations from them, and whatever petitioning of the law they mean to do can be published in open forum for joe six pack soccer mom plumbers to read in plain sight? We can additionally cut our own taxes by ending loopholes for them, a synergy that saves them reduced paperwork costs and irs money handling reams of paper. Just one idea. There are other ideas floating around if you want to take a good hard look at them. Put your own brains to the problem, you might come up with a better idea yourself.

Wealthy liberals were the ones announcing they were paying far less taxes than their employees early in an election season. GE did lean towards obama. Go on ahead and find cspan archives regarding energy policy and upgrading american infrastructure meetings. You will see representatives courting and making demands of GE leadership, and you'll see GE biting it's tongue and rolling it's eyes as if they're dealing with children crying for candy.

Your gripe is that our government is being manipulated by commerce? Why aren't conservatives endorsing zero campaign finance and straightforward debates? Why aren't libertarians seeing the way to limit a machine that's gotten so beyond the pale corrupt is to end institutionalized corruption? Why isn't small business, the small fish who could never come close to the bribery levels coming from the big fish, aren't seeing a level playing field for themselves and for all by ending campaign contributions? Why isn't Tea party clamouring for the same? They walk right past it and resume rants that we want ours.

Tell me why everyone isn't on the same page? The only reason why I can see why anyone would be against it is because they'd lose a perceived advantage. This argument people have trying to tilt the board in service to their own grace and favor IS the problem. You're all too happy to be told by a man wearing a hat in government that government is the problem, but you've animated the whole thing all along, and that man changed nothing in meaningful ways that were sustainable. The problem is YOU (as special interest #3,658,932) are not interested in being fair with anyone, it's all about you, not what's good for all (commerce, people and govt). How's that working out for you today?
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Old 04-17-2010, 02:46 PM
 
15,053 posts, read 4,591,643 times
Reputation: 3283
Quote:
Originally Posted by Boompa View Post
Why isn't the TeaParty after Exxon et al. We could all pay less if they pay their share
Maybe because: just one corporation (Exxon Mobil) pays as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers, which is 65,000,000 people.


Corporate profits receive a lot of media attention, but what receives considerably less attention are the corporate taxes paid on corporate profits. Do a Google search for "Exxon profits" and you'll get about 8,000 hits. Now try "Exxon taxes" and you'll get a little more than 300 hits. That's a ratio of about 33 to 1.
I'm pretty sure that Exxon's tax payment in 2007 of $30 billion (that's $30,000,000,000) is a record, exceeding the $28 billion it paid last year.
By the way, Exxon pays taxes at a rate of 41% on its taxable income!
[Update: The $40.6 billion and $39.5 billion figures are after-tax profits. For 2006, Exxon's EBT (earnings before tax) was $67.4 billion, it paid $27.9 billion in taxes (41.4% tax rate), and its NIAT (net income after tax), or profit, was $39.5 billion.]

Over the last three years, Exxon Mobil has paid an average of $27 billion annually in taxes. That's $27,000,000,000 per year, a number so large it's hard to comprehend. Here's one way to put Exxon's taxes into perspective.
According to IRS data for 2004, the most recent year available:
Total number of tax returns: 130 million
Number of Tax Returns for the Bottom 50%: 65 million
Adjusted Gross Income for the Bottom 50%: $922 billion
Total Income Tax Paid by the Bottom 50%: $27.4 billion

Conclusion: In other words, just one corporation (Exxon Mobil) pays as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers, which is 65,000,000 people! Further, the tax rate for the bottom 50% is only 3% of adjusted gross income ($27.4 billion / $922 billion), and the tax rate for Exxon was 41% in 2006 ($67.4 billion in taxable income, $27.9 billion in taxes
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Old 04-17-2010, 03:34 PM
 
289 posts, read 150,772 times
Reputation: 197
Quote:
Originally Posted by Quick Enough View Post
Maybe because: just one corporation (Exxon Mobil) pays as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers, which is 65,000,000 people.


Corporate profits receive a lot of media attention, but what receives considerably less attention are the corporate taxes paid on corporate profits. Do a Google search for "Exxon profits" and you'll get about 8,000 hits. Now try "Exxon taxes" and you'll get a little more than 300 hits. That's a ratio of about 33 to 1.
I'm pretty sure that Exxon's tax payment in 2007 of $30 billion (that's $30,000,000,000) is a record, exceeding the $28 billion it paid last year.
By the way, Exxon pays taxes at a rate of 41% on its taxable income!
[Update: The $40.6 billion and $39.5 billion figures are after-tax profits. For 2006, Exxon's EBT (earnings before tax) was $67.4 billion, it paid $27.9 billion in taxes (41.4% tax rate), and its NIAT (net income after tax), or profit, was $39.5 billion.]

Over the last three years, Exxon Mobil has paid an average of $27 billion annually in taxes. That's $27,000,000,000 per year, a number so large it's hard to comprehend. Here's one way to put Exxon's taxes into perspective.
According to IRS data for 2004, the most recent year available:
Total number of tax returns: 130 million
Number of Tax Returns for the Bottom 50%: 65 million
Adjusted Gross Income for the Bottom 50%: $922 billion
Total Income Tax Paid by the Bottom 50%: $27.4 billion

Conclusion: In other words, just one corporation (Exxon Mobil) pays as much in taxes ($27 billion) annually as the entire bottom 50% of individual taxpayers, which is 65,000,000 people! Further, the tax rate for the bottom 50% is only 3% of adjusted gross income ($27.4 billion / $922 billion), and the tax rate for Exxon was 41% in 2006 ($67.4 billion in taxable income, $27.9 billion in taxes
Ya know, if you're gonna lift your post word-for-word from elsewhere, you really should be crediting or linking to where you got it from. To wit:

Exxon's 2007 Tax Bill: $30 Billion -- Seeking Alpha

But anyway....

Are we talking about all taxes? Income taxes? Both? And how much from these numbers was worldwide vs. paid to the U.S.? I only ask because the same google search comes up with a number of articles stating that Exxon paid $0 in federal income tax to the U.S. for 2009 on $37.x billion in pretax income (they paid $17.6 billion in income tax worldwide).
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Old 04-17-2010, 06:30 PM
 
15,053 posts, read 4,591,643 times
Reputation: 3283
Quote:
Originally Posted by Whyfor View Post
Ya know, if you're gonna lift your post word-for-word from elsewhere, you really should be crediting or linking to where you got it from. To wit:

Exxon's 2007 Tax Bill: $30 Billion -- Seeking Alpha

But anyway....

Are we talking about all taxes? Income taxes? Both? And how much from these numbers was worldwide vs. paid to the U.S.? I only ask because the same google search comes up with a number of articles stating that Exxon paid $0 in federal income tax to the U.S. for 2009 on $37.x billion in pretax income (they paid $17.6 billion in income tax worldwide).
My apologies. I thought I did include the source.

That same google search also has this:
The Tax Foundation - ExxonMobil's Record Profits -- And Record Taxes

Excerpt: "While they were recording record profits last year, they were also writing checks to Uncle Sam to the tune of $100.7 billion"
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Old 04-17-2010, 08:32 PM
 
Location: Keonsha, Wisconsin
2,480 posts, read 1,838,159 times
Reputation: 554
Quote:
Originally Posted by Wapasha View Post
Now maybe people will see why its profitable for giant corporations to get in bed with the federal government and their Global Warming agenda, and it helps to have their CEO as an advisor to the president.

...and here I thought it was under republican presidents that the big corporations got rich.
GE doesn't care who is president, they have plenty of clout to make presidents see things their way. GE is an equal opportunity offender and polluter. (they bring good things to life) Yeah, like Husdon River pollution.
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Old 04-17-2010, 09:47 PM
 
Location: Michigan
4,593 posts, read 2,697,195 times
Reputation: 1341
Quote:
Originally Posted by Quick Enough View Post
My apologies. I thought I did include the source.

That same google search also has this:
The Tax Foundation - ExxonMobil's Record Profits -- And Record Taxes

Excerpt: "While they were recording record profits last year, they were also writing checks to Uncle Sam to the tune of $100.7 billion"
That's 2006.

2009 (so far) they paid zilch to the US on income.

It wasn't clear in if any of that was on income (they do pay other taxes).
It actually looked like they were including 'at the pump' taxes in the figure. (not sure)
I have yet to see a report from the Tax Foundation ever saying that any corporate interest is pay too little in taxes.
Even when you talk with them you get very little in details but lots of industry favorable numbers.
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Old 04-17-2010, 10:06 PM
 
Location: Arizona
2,540 posts, read 475,543 times
Reputation: 1271
maybe time to take a long look at the screwed up tax code and laws rather than GE.

Don't misunderstand, I think GE is as corrupt as many other corporations and took advantage of tax law, so maybe it is the tax law that needs to be criticized.
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Old 04-17-2010, 11:45 PM
 
Location: Mojave Desert, Southern California
1,042 posts, read 852,618 times
Reputation: 749
Quote:
Originally Posted by Jill61 View Post
It's a bunch of crap that they and the author of that piece are trying to tie this into the economy. The REAL reason most of these major multi-national corporations NEVER owe the U.S. any Federal Income Tax is because the U.S. is the only civilized nation on this planet that doesn't tax earnings reported in other countries. So all they have to do is magically only show profits in their non-U.S. facilities and presto, no federal taxes.

Yeah! Those evil corporations giving people jobs!

It's just terrible I tell you!
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