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I'd beg to differ. The big wigs like Google, Apple, Amazon, and Microsoft to name a few have found legal loop holes to avoid paying taxes. Other corporation either owe very little tax, or have the IRS paying them. That's $$ that could've been used to help the nation. You can't blame individuals for finding loopholes in government benefits (as many have accused here on C-D) when companies do the exact same thing.
They also do as many things as legally possible to give themselves unfair advantages that smaller companies and individuals just can't do.
No, but I'm sure that McD's CEO would say, "wow, this job sucks! Sucks to be you guys! Glad I'm not working here, bye!"
Why don't you tell us all about how they avoid paying taxes. I'm sure that many here would be interested to hear how they do it.
Your the guy claiming to be Mr Tax Phd.. you tell us this is the tip of the iceberg.. S&P 500 REPORTING PAYING NO TAXES DESPITE BEING PROFITABLE IN 2014
Company Symbol.....2014 Net income in millions of $.......HQ.
Goodyear TireGT $2,452 U.S.
TE Connectivity TEL $1,900 Switzerland
Eaton ETN $1,793 Ireland
Tyco TYC $1,730 Ireland
Masco MAS $856 U.S.
Royal Caribbean RCL $764.1 U.S.
Wynn Resorts WYNN $731.6U.S.
Darden Restaurants DRI $666.6U.S.
Level 3 LVLT $314U.S.
FirstEnergy FE $299U.S.
Cabot Oil COG $104.5U.S.
Quote:
Originally Posted by TaxPhd
Why don't you tell us all about how they avoid paying taxes. I'm sure that many here would be interested to hear how they do it. Enlighten us.
Want a few hundred more?? So start talking Mr Phd hahaahaha
Status:
"48 years in MD, 18 in NC"
(set 8 days ago)
Location: Greenville, NC
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Quote:
Originally Posted by SportyandMisty
The price of Walmart stock cratered yesterday -- the biggests one-day drop since 1987.
Why? Walmart previously announced it is raising the pay of all their employees, in particular those who earn minimum wage or slightly above; yesterday Walmart announced the impact to their financial statements.
I'm not sure where you got this information from. I've read that the small wage increase did cut into profits but that the increase is a small part of the reason for the stock price drop. Additional costs include the continued development of their Neighborhood Market stores as well as pumping money into employee training, buildup and improvements to their e-commerce and distribution center operations. Additionally they announced a $20 BILLION stock buyback over the next 24 months on top of the $15 BILLION stock buyback that they started in 2013.
Just cutting a part of a story out just to make a dramatic headline is called taking something out of context. You only mentioned the part that would add legitimacy to your argument.
I just don't understand why people are OK with corporations gaming the system (like not paying taxes), but hate when poor people lobby for more money.
1) Americans have been taught that poor people are lazy and entitled, thanks to corporate lobbying. The corporate overlords have convinced the average person (aka sheep) that unions are awful, that their skills are dime-a-dozen and useless, and that nobody deserves a comfortable lifestyle but the top brass. We now have a docile, insecure, and self-sabotaging workforce, whom are more apt to take what they can get rather than demand more.
2) Poor people think it makes them appear more sophisticated and reasonable by downing their fellow poor.
3) Just like with the lottery, the average American honestly believes they have a fair shot at becoming a millionaire one day, so they think putting more restrictions on the rich will one day hurt them, too.
4) It's the crawdads in a bucket mentality. "Americans are so enamored of equality that they would rather be equal in slavery than unequal in freedom" ~ Alexis de Tocqueville. Some people would rather their fellow worker have less opportunities to move up, therefore keeping everyone as miserable as them.
There's plenty of reasons, and all of them are bad. It really says something when people were even arguing against simple inflation and cost-of-living increases to the minimum wage.
As I see it, the people who really run this country, the few, top 1 percent of the American
population, don't care about anyone else but themselves. They just want the other 99 percent
to keep arguing.
Think of a big pie, then cut off a small slice out of the pie.
That is what 99 percent of the American population has.
The rest of the pie, the one percenters have.
Sooo, to keep it, they just have to keep everyone else arguing about anything
so they are content with their little piece of pie.
You name it, Race, Immigration, Women's Rights, Abortion, whatever.
They don't care what 99 percent of the country argues about, just so that we argue.
Get it?
We don't have a Democratic government, we haven't had one in decades, so Congress that
we are suppose to "elect" look out for the interests of the one percenters.
They write the tax law, so they do what they want to.
They own the politicans, people.
Just so the people argue about anything but the truth.
They don't care.
Company profits are at record highs and that money is sitting in the pockets of executives. Sorry, but it is time for the people who created those profits to get a raise!
Your the guy claiming to be Mr Tax Phd.. you tell us this is the tip of the iceberg.. S&P 500 REPORTING PAYING NO TAXES DESPITE BEING PROFITABLE IN 2014
Company Symbol.....2014 Net income in millions of $.......HQ.
Goodyear TireGT $2,452 U.S.
TE Connectivity TEL $1,900 Switzerland
Eaton ETN $1,793 Ireland
Tyco TYC $1,730 Ireland
Masco MAS $856 U.S.
Royal Caribbean RCL $764.1 U.S.
Wynn Resorts WYNN $731.6U.S.
Darden Restaurants DRI $666.6U.S.
Level 3 LVLT $314U.S.
FirstEnergy FE $299U.S.
Cabot Oil COG $104.5U.S.
Want a few hundred more?? So start talking Mr Phd hahaahaha
Well if the US switched to residency tax instead of global tax and lowered it maybe more multinationals would "come home". You have corporations moving their headquarters and US expats giving up their citizenship. And the number of those are steadily increasing each year.
Company profits are at record highs and that money is sitting in the pockets of executives. Sorry, but it is time for the people who created those profits to get a raise!
A lot of these profits is money made in other countries.
And the companies did pay taxes in those countries.
Only they are letting the profits sit there because if they brought them back to the US the IRS wants their piece of the pie too even those that money was not made in the US.
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