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I don't think it works that way. First of all, bringing money back doesn't mean bring "profits" back, and only profits are taxed.
Secondly, most of these corporations do vast amounts of business overseas - so they need to keep a lot of money there since they have factories, offices, retail and everything else there.
It would be a different story if said corporations made all their product and money here...and then offshored the money. But that's not how it works.
Lastly, to think that the legions of accountants for the largest firms in the world won't ALWAYS find every loophole....seems silly.
The effective US corp. tax rate is something like 12-15%, on par with the rest of the world.
Anyway, what's better.....one of the above or BOTH. There is no reason not to clamp down on tax-exempts of every type as they are fleecing the American public. Sooner or later we run out of other people money...as they say.
We are supposed to make Harvey people..and now Irma people...whole again. Yet we finance private jets for Preachers? Give me a break...
that money in banks overseas IS profit. profits from overseas operations, profits from exports t other countries, etc. and due to tax laws in this country, these corporations have left the money overseas instead of bringing it home where it can do the most good.
Our economy could sure use the money and religion is a lucrative business.
I'd love to see a revenue (gross donations) threshold established where larger churches become taxable entities. The presumption is that these organizations are charitable. However, these mega churches are about lining the pockets of their leadership.
Typical Liberal Trash. Churches Provide Ministries that do the work of Government could never do. Liberals underestimate power of the Lord can do and of course the Revenuers want a piece of the action.
Goes to show we need a big government to fulfill the needs of the people and abroad as well.
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Quote:
Originally Posted by heavyweight
Our economy could sure use the money and religion is a lucrative business.
I'd love to see a revenue (gross donations) threshold established where larger churches become taxable entities. The presumption is that these organizations are charitable. However, these mega churches are about lining the pockets of their leadership.
Churches that genuinely help the poor and needy through charitable status should be exempt from tax, but their accounts should be checked, and there should also be a limit on how much money charities spend on administration and wages.
I certainly personally don't see why the Church of Scientology should be given charitable status in the US thereby having a high degree of tax exemption, however the Church of Scientology engaged in a lengthy legal battle and campaign againt the IRS who eventually negotiated a deal with the Church and recognised it as a religious organisation for tax purposes. Therefore other organisations would just want similar deals to the Church of Scientology as a precedent has now been set by the US Authorities.
Our economy could sure use the money and religion is a lucrative business.
I'd love to see a revenue (gross donations) threshold established where larger churches become taxable entities. The presumption is that these organizations are charitable. However, these mega churches are about lining the pockets of their leadership.
I'm not saying I agree with imposing more taxes. But if we're going to tax businesses, churches should be treated the same. A church is nothing but a business, despite the fact that they pretend otherwise.
Quote:
Originally Posted by TheDusty
Just a thought, but to pay off the missing $19 trillion.
Baby steps, of course.
Per taxing churches I think this would need to be an issue of circumstance. Some churches do a lot of charitable work, and in this scene, I feel should qualify as a non-protif. Some don't. A simple measure may be to look to the preachers property. If it's nicer than most of their congregation by a significant margin, taxing the church might be a good idea.
Quote:
Originally Posted by desertdetroiter
I'd tax them right out of existence if I could.
Quote:
Originally Posted by rbohm
that money in banks overseas IS profit. profits from overseas operations, profits from exports t other countries, etc. and due to tax laws in this country, these corporations have left the money overseas instead of bringing it home where it can do the most good.
Pick one entity to tax gross revenue but no others? There is is reason this argument was made. The OP understands why his argument is nothing but a rant.
Churches are taxed just the same as a business. A business that does not show a profit does not pay taxes either.
On the other hand, allowing a company to bring in money they made by sending jobs overseas is not a very wise thing to do either. It should be taxed at a far higher rate.
Man, I really have mixed feelings about this. I briefly attended a mega-church, years ago, and I have no doubt that a lot of the money was making that pastor much richer than he should have been. They guilted people into giving more than they could afford, he preached "prosperity gospel," and had a private jet. I didn't go there long, as the whole thing was a huge turn-off to me.
On the other hand, my housemate goes to a church (and I sometimes go with her), that, while small, gives 50% of every dollar collected to charity, mostly local. During Advent and Lent, special collections are taken that all go to charity. No one working at this church is getting rich, and the priest's house is a modest one.
Before moving here, I went to a church that, sizewise, fell in the middle, although closer to the small end. This church fed anyone in the neighborhood who cared to come, twice a week, without regard to whether or not they were members. They even allowed people to take home carry-out meals to tide them over until the next time. They also regularly helped people with utility bills, and even rent. I don't want to get into too many details about my own life, but I will say that I came across this church when I found myself in a terrible situation (former housemate, NOT my current one, had been arrested for things that shocked me, leaving me out in the country with no car, knowing nobody, and desperate to move), and a friend who knew the pastor suggested that I call them, even though they were in another town, over an hour away. They sent a van and some men and helped me move all of my stuff, and asked me for nothing. They didn't even press me to start coming to services, I did that later.
So...should churches be taxed? I don't know. Some certainly deserve it. Others do not. The problem is figuring out which ones are which, and finding a legally sound way to distinguish between the two.
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