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Old 02-28-2011, 04:50 PM
 
Location: Hoboken
19,890 posts, read 18,710,881 times
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Who pays the taxes? Assuming that this is true (which, I don't) do you think these big bad corporations wouldn't pass along those costs to consumers? Ready, fire, aim!
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Old 02-28-2011, 04:55 PM
 
Location: Hoboken
19,890 posts, read 18,710,881 times
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Ah, here it is. There really is less here than meets the eye.

Media Myths And Corporate Taxes | U.S. Chamber Magazine

"The tax situation for corporations is not all that different from that of individuals. IRS data show that for 2005-the final year of the GAO study-approximately one-third, or 44 million, of the 134 million individual income tax returns filed showed no income tax liability whatsoever. And this does not even account for all those individuals who had insufficient income to even have to file income tax returns. In addition, IRS data show that individuals making up the bottom half of tax filers (by adjusted gross income) accounted for not quite 3% of total federal personal income tax paid. This data show that corporations are getting no more of a "free ride" than vast numbers of individuals. To be fair, perhaps the GAO should do a study on the number of individuals who utilize exemptions, deductions, and credits like corporations do.
In sum, the idea that there is a large pool of corporations not paying taxes that they legally owe is just incorrect. Maybe misrepresenting the data or using it to make deceptive arguments is just the media's way of turning a report that really says nothing into a scintillating, scandalous story. It wouldn't be the first time."
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Old 02-28-2011, 05:02 PM
 
Location: Tallahassee
1,869 posts, read 1,090,102 times
Reputation: 299
Quote:
Originally Posted by shorebaby View Post
Who pays the taxes? Assuming that this is true (which, I don't) do you think these big bad corporations wouldn't pass along those costs to consumers? Ready, fire, aim!
Which goes back to the question "what happened to sharing the burden"?

Of course, the GREED IS GOOD crowd wouldn't have a clue.
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Old 02-28-2011, 05:17 PM
 
Location: Hoboken
19,890 posts, read 18,710,881 times
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Quote:
Originally Posted by Perlier View Post
Which goes back to the question "what happened to sharing the burden"?

Of course, the GREED IS GOOD crowd wouldn't have a clue.

What are you talking about? Didn't I just explain to you that increasing taxes on corporations is really increasing taxes on ourselves?
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Old 02-28-2011, 05:19 PM
 
Location: Maine
7,727 posts, read 12,347,342 times
Reputation: 8343
Quote:
Originally Posted by shorebaby View Post
Ah, here it is. There really is less here than meets the eye.

Media Myths And Corporate Taxes | U.S. Chamber Magazine

"The tax situation for corporations is not all that different from that of individuals. IRS data show that for 2005-the final year of the GAO study-approximately one-third, or 44 million, of the 134 million individual income tax returns filed showed no income tax liability whatsoever. And this does not even account for all those individuals who had insufficient income to even have to file income tax returns. In addition, IRS data show that individuals making up the bottom half of tax filers (by adjusted gross income) accounted for not quite 3% of total federal personal income tax paid. This data show that corporations are getting no more of a "free ride" than vast numbers of individuals. To be fair, perhaps the GAO should do a study on the number of individuals who utilize exemptions, deductions, and credits like corporations do.
In sum, the idea that there is a large pool of corporations not paying taxes that they legally owe is just incorrect. Maybe misrepresenting the data or using it to make deceptive arguments is just the media's way of turning a report that really says nothing into a scintillating, scandalous story. It wouldn't be the first time."
So, compairing billion dollar corporations to INDIVIDUAL citizens whose gross income is low enough to be exempt from federal taxes isn't deceptive?
These corporations take advantage of loopholes and offshoring to avoid federal income taxes then they collect corporate welfare.
Many people scream and holler about very low income people that get help through foodstamps, medicare, etc. which in comparison is peanuts. (IMO)
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Old 02-28-2011, 05:21 PM
 
Location: Land of debt and Corruption
7,545 posts, read 8,307,356 times
Reputation: 2888
Maybe if we actually did what Obama said he would do and lowered the corporate tax rates so we are no longer highest in the world, then we could work on eliminating all loopholes that allow for this tax evasion.

Why hasn't Obama cut our corporate tax rate yet like he said he planned to do???
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Old 02-28-2011, 05:21 PM
 
Location: Hoboken
19,890 posts, read 18,710,881 times
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Quote:
Originally Posted by msina View Post
So, compairing billion dollar corporations to INDIVIDUAL citizens whose gross income is low enough to be exempt from federal taxes isn't deceptive?
These corporations take advantage of loopholes and offshoring to avoid federal income taxes then they collect corporate welfare.
Many people scream and holler about very low income people that get help through foodstamps, medicare, etc. which in comparison is peanuts. (IMO)

LOL. read the whole link my friend then get back to us.
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Old 02-28-2011, 05:24 PM
 
Location: Sango, TN
24,869 posts, read 24,324,752 times
Reputation: 8672
Quote:
Originally Posted by msina View Post
So, compairing billion dollar corporations to INDIVIDUAL citizens whose gross income is low enough to be exempt from federal taxes isn't deceptive?
These corporations take advantage of loopholes and offshoring to avoid federal income taxes then they collect corporate welfare.
Many people scream and holler about very low income people that get help through foodstamps, medicare, etc. which in comparison is peanuts. (IMO)
Heres the response,

If we raise taxes on the corporations, or close their loop holes, they will simply pass those costs on to the customer.

There are two things that aren't straight with this answer.

1. No guarantee they'll pass it on to the customer. Some corporations don't want to hurt their sales numbers, so they'll keep things at the price, or slightly raise it.

2. With the same overseas competition they are seeing, they can't raise prices to match that cost, unless you have a stranglehold on the industry, like gasoline.

Its easy fruit to go after low income assistance. I'm not low income, I live in a good neighborhood, and taking away from low income folks doesn't hit me. They are worried that if we raise corporate taxes that it will effect them, because they might have to pay an extra 2% on the extra food they buy, and their television costs.

But as I said, companies probably wouldn't pass the cost on to the consumer. Like I said, there is to much competition out there.
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Old 02-28-2011, 05:28 PM
 
Location: Tallahassee
1,869 posts, read 1,090,102 times
Reputation: 299
Quote:
Originally Posted by shorebaby View Post
LOL. read the whole link my friend then get back to us.
Ahhh, the typical right wing conscending attitude never fails. LOL I wonder if there is a "camp" somewhere that they teach this stuff as a response to anything related to corporate taxes?
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Old 02-28-2011, 05:47 PM
 
Location: Portland, OR
9,855 posts, read 11,889,743 times
Reputation: 10027
Quote:
Originally Posted by Memphis1979 View Post
Heres the response,

If we raise taxes on the corporations, or close their loop holes, they will simply pass those costs on to the customer.

There are two things that aren't straight with this answer.

1. No guarantee they'll pass it on to the customer. Some corporations don't want to hurt their sales numbers, so they'll keep things at the price, or slightly raise it.

2. With the same overseas competition they are seeing, they can't raise prices to match that cost, unless you have a stranglehold on the industry, like gasoline.

Its easy fruit to go after low income assistance. I'm not low income, I live in a good neighborhood, and taking away from low income folks doesn't hit me. They are worried that if we raise corporate taxes that it will effect them, because they might have to pay an extra 2% on the extra food they buy, and their television costs.

But as I said, companies probably wouldn't pass the cost on to the consumer. Like I said, there is to much competition out there.
Said much better than I would have managed.
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