Sir Galahad
Christian Socialist Party
Good riddance, I say! And we won't be importing any of your goods either.
Where does wealth come from?
- Thread starter Onceler
- Start date
Good riddance, I say! And we won't be importing any of your goods either.
ummm maybe b/c most corporations don't pay any taxes at all?
That is directly wrong. Are you stuck in the 70s or something?
cawacko
Well-known member
I don't understand why McCain would never explain this. Obama would say McCain wants to give tax breaks to rich corporations. McCain should simply state we compete in a global marketplace and we have the second highest corporate tax structure among industrialized nations (or whatever the correct group of countries is). That can place us at a competitive disadvantage.
You can go deeper than that but that's the basics.
Dumb. Maybe you and AHZ can start up the bartering...
uscitizen
Villified User
corporate tax rates and how much they actually pay are very different things Damo. Besides corporations are individuals, why should they be taxed differently?
uscitizen
Villified User
I recall years when some of the largest finiancial institutions actually had a tax credit.
This is the guy who can't figure out the answer to "I was 8 when he did that..."
(Hint: Yes, but I wasn't born yet when <insert so and so here> committed crimes, yet it would still be bad judgment to launch my political career from their living room, then try to downplay the connection later....)
He didn't say it because he seems to be running the most uninspired campaign in recent history. Even Kerry did better than this.
Because they compete in the global market. Ignoring that to our own detriment is just bad policy. Many may just pay the minimum, but they still pay more than they would in places like Ireland with a 12% corporate rate. There is no incentive, even if they attempt to tarrif everything they bring in, to stay here when they can get such a larger savings in other places.
Sir Galahad
Christian Socialist Party
No, Iv'e got nukes but they're not up for trade, I plan on using them immediately. Goodnight all!
uscitizen
Villified User
yeah and maybe they will move to hugoland ? There are other advantages to being here. Like less shipping costs to the consumer base for one.
Hmm I wonder why the Japanese auto companies and german ones too build factories in the USA ?
but then of course you have it all figured out. Or at least you will after a few more rides to work listening to talk radio.
When they can get cheap labor in other places as well as get lower tax rates by setting up HQ somewhere else they will. If you incentivize their staying rather than attempting to "punish" those that leave you will get a better result.
People will say anything, even things they know are foolish, in order to defend how they long ago set their opinions.
Most Companies in US Avoid Federal Income Taxes
Report says most corporations pay no federal income taxes; lawmakers blame loopholes
Two-thirds of U.S. corporations paid no federal income taxes between 1998 and 2005, according to a new report from Congress.
The study by the Government Accountability Office released Tuesday said about 68 percent of foreign companies doing business in the U.S. avoided corporate taxes over the same period.
Collectively, the companies reported trillions of dollars in sales, according to GAO's estimate.
"It's shameful that so many corporations make big profits and pay nothing to support our country," said Sen. Byron Dorgan, D-N.D., who asked for the GAO study with Sen. Carl Levin, D-Mich.
An outside tax expert, Chris Edwards of the libertarian Cato Institute in Washington, said increasing numbers of limited liability corporations and so-called "S" corporations pay taxes under individual tax codes.
"Half of all business income in the United States now ends up going through the individual tax code," Edwards said.
The GAO study did not investigate why corporations weren't paying federal income taxes or corporate taxes and it did not identify any corporations by name. It said companies may escape paying such taxes due to operating losses or because of tax credits.
OWNED HARDCORE!!!
http://abcnews.go.com/Politics/wireStory?id=5562238
BAMM SHAZAM
Again this ignores the minimum tax laws that set a rate that they will pay regardless of loopholes, if they are a US company. It also ignores that the companies must report profits in order to pay an income tax.
uscitizen
Villified User
Report says most corporations pay no federal income taxes
hmm not even 1/3 of their income taxes.... but NO income taxes.
ok, what's the MINIMUM tax law??/ how much do they pay for their billiions??
I didn't vote for Bush in 2004.