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2/3 of US corporations pay no Federal income taxes!

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  • 2/3 of US corporations pay no Federal income taxes!

    This is actually from 2008...
    Nearly two-thirds of U.S. companies and 68% of foreign corporations do not pay federal income taxes, according to a congressional report released Tuesday.

    http://money.cnn.com/2008/08/12/news...rporate_taxes/

    Is this an example of corporations owning government or dishonest journalism?
    26
    Is proof that corporations own our government.
    19.23%
    5
    So misleading that it is.indistinguishable from a lie.
    19.23%
    5
    Doc is trying to trick corporations bashers to make even bigger fools of themselves.
    15.38%
    4
    I don't know, don't care and have no reason for answering this poll.
    7.69%
    2
    Any article suggesting any possible criticism of the capitalist system is obviously the result of paid Communist-inspired hooligans who hate America
    38.46%
    10
    Watts Up With That? | The world's most viewed site on global warming and climate change.

  • #2
    Any article suggesting any possible criticism of the capitalist system is obviously the result of paid Communist-inspired hooligans who hate America.

    Comment


    • #3
      You've got to admit Skoblin, that Dave does give us interesting poll options. Flat out hilarious in some cases.

      Still mad though that he stopped using "It's all Bush's fault" as an option. That was my favorite.
      Beer is proof that God loves us and wants us to be happy.

      Comment


      • #4
        Originally posted by Skoblin View Post
        Any article suggesting any possible criticism of the capitalist system is obviously the result of paid Communist-inspired hooligans who hate America.
        I forgot to make that a poll option... D'oh!
        Watts Up With That? | The world's most viewed site on global warming and climate change.

        Comment


        • #5
          Originally posted by The Doctor View Post
          I forgot to make that a poll option... D'oh!
          Problem solved

          Comment


          • #6
            Can you change my vote to the Commie option?
            Beer is proof that God loves us and wants us to be happy.

            Comment


            • #7
              More suggestions?

              Originally posted by The Doctor View Post
              I forgot to make that a poll option... D'oh!
              - That article's from 2008, US Corps pay Federal taxes through the nose now!
              - Yippee! That's still a heckuvalot more than US Corps pay in China and Mexico!

              "I am Groot"
              - Groot

              Comment


              • #8
                Originally posted by R. Evans View Post
                Can you change my vote to the Commie option?
                Even the power of the supermod has its limits..

                Comment


                • #9
                  Originally posted by Skoblin View Post
                  Even the power of the supermod has its limits..
                  Oh, well. I'll stick with Doc's trickeration option.
                  Beer is proof that God loves us and wants us to be happy.

                  Comment


                  • #10
                    Originally posted by Skoblin View Post
                    Even the power of the supermod has its limits..
                    Besides... Bob's answer was correct...
                    Watts Up With That? | The world's most viewed site on global warming and climate change.

                    Comment


                    • #11
                      Originally posted by R. Evans View Post
                      Oh, well. I'll stick with Doc's trickeration option.
                      The real trick will be getting corporation bashers to fall for it after I let them know it might be a trick...
                      Watts Up With That? | The world's most viewed site on global warming and climate change.

                      Comment


                      • #12
                        Originally posted by The Doctor View Post
                        This is actually from 2008...
                        Nearly two-thirds of U.S. companies and 68% of foreign corporations do not pay federal income taxes, according to a congressional report released Tuesday.

                        http://money.cnn.com/2008/08/12/news...rporate_taxes/
                        Is this an example of corporations owning government or dishonest journalism?
                        What the headlines claimith, the text taketh away, EXCERPT:

                        " The GAO report, which did not name any specific companies, said that some corporations reported zero income before deducting expenses while others said they had zero net income after deducting expenses. Either way, those companies reported no tax liability, the GAO said.
                        But many of the companies the report found had paid no tax were likely small businesses that pay other taxes. Generally, many small firms, because they do not have shareholders, are able to shift corporate income to individual income.
                        "Small businesses that are going to be liable for a lot of income tax are likely to use other tax forms so they only pay individual income taxes," said Eric Toder, a senior fellow at the Tax Policy Center. "

                        What an article (and thread) such as this points out is the level of basic economic ignorance that is near rampant in this country, perhaps the developed world in general. Taxes paid by a business, private company up to large corporation, become expenses to be recovered in future years/transactions. This means that the cost(taxes) often become increased prices passed on to customers/consumers whom in effect become the ones whom really pay for the taxes paid by the businesses.

                        Raise your hand if you've ever been self-employed and/or owned a business ...

                        ... if so, you'll know what I mean here.

                        Just one example, there's an incentive to make "charitable donations" to reduce taxable income and send the money somewhere else that the business owner/corp. thinks will make better use of the fund$.

                        Comment


                        • #13
                          Originally posted by G David Bock View Post
                          What the headlines claimith, the text taketh away, EXCERPT:

                          " The GAO report, which did not name any specific companies, said that some corporations reported zero income before deducting expenses while others said they had zero net income after deducting expenses. Either way, those companies reported no tax liability, the GAO said.
                          But many of the companies the report found had paid no tax were likely small businesses that pay other taxes. Generally, many small firms, because they do not have shareholders, are able to shift corporate income to individual income.
                          "Small businesses that are going to be liable for a lot of income tax are likely to use other tax forms so they only pay individual income taxes," said Eric Toder, a senior fellow at the Tax Policy Center. "

                          What an article (and thread) such as this points out is the level of basic economic ignorance that is near rampant in this country, perhaps the developed world in general. Taxes paid by a business, private company up to large corporation, become expenses to be recovered in future years/transactions. This means that the cost(taxes) often become increased prices passed on to customers/consumers whom in effect become the ones whom really pay for the taxes paid by the businesses.

                          Raise your hand if you've ever been self-employed and/or owned a business ...

                          ... if so, you'll know what I mean here.

                          Just one example, there's an incentive to make "charitable donations" to reduce taxable income and send the money somewhere else that the business owner/corp. thinks will make better use of the fund$.
                          That's the other correct answer. S-Corp, LLC and other pass-through entities don't pay corporate income taxes. They report their income and pay their taxes as individuals.

                          Two Thirds of US Corporations Don't Pay Federal Income Tax: True But Horribly Misleading
                          Watts Up With That? | The world's most viewed site on global warming and climate change.

                          Comment


                          • #14
                            So, I think the corporations of any size should be taxed at 99% and individual shareholders or partners should be taxed at 99% as well.

                            That should make Skobby's legs tingle a bit.

                            ....And make Dave's head explode after reading my post.
                            Major James Holden, Georgia Badgers Militia of Rainbow Regiment, American Civil War

                            "Aim small, miss small."

                            Comment


                            • #15
                              Originally posted by Cheetah772 View Post
                              So, I think the corporations of any size should be taxed at 99% and individual shareholders or partners should be taxed at 99% as well.

                              That should make Skobby's legs tingle a bit.
                              You've joined the Dark Side my son.
                              I'll make all the arrangements to place you on my Marxist newsletter mailing list.
                              No need to thank me..

                              Comment

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