GOP Liars: "Taxes strangling us"

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signalmankenneth

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It's worse than that - so many US coporations pay NO FEDERAL TAXES AT ALL?!!
Only Iceland pays less corporate taxes

http://thinkprogress.org/economy/2011/07/05/260535/graph-corporate-tax-second-lowest/
 
The taxpayers bailed out the banks, they were supposed to lend to small business and consumers to create jobs. They didn't. They kept the money, or what was left after CEO salaries and bonuses.
 
bravo said:
New data compiled by the OECD shows that for the 17th consecutive year the average rate of corporate taxes in the world fell while the US rate stayed the same.
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Poor Blabo.


Yet again, unable to comprehend matters, he jumps in with an irrelevant rebuttal, thinking himself clever.



The World Bank takes loopholes into account for its "Paying Taxes 2011" report looking at the "total tax rate" in each nation.




After adjusting for what businesses actually pay, the World Bank ranked the United States 124th out of 183 counties for the highest rate. This means the United States is higher than average, but about a third of the countries tax businesses more.




Some of the countries with a real business tax rate higher than here are Australia, Austria, Belgium, China, France, Germany, Iraq, Mexico, Spain, Sweden, Venezuela and Yemen.



Some with lower rates are Afghanistan, Canada, Chile, Denmark, Egypt, Haiti, Netherlands, Norway, Poland, Russia, Switzerland and the United Kingdom.




A side note worth mentioning is overall tax burden.


The OECD measures total taxes -- for businesses and citizens -- as a percentage of countries' gross domestic product (the total value of goods and services produced).




Among the 33 industrialized nations that are members, the United States ranks near the bottom, with only Korea, Turkey and Mexico having a lower tax burden.






http://www.rgj.com/article/20110208/...full-loopholes






According to the nonpartisan Congressional Budget Office, tax receipts from corporate income taxes are down.


Before Blabo claims that's because the economy is bad because Obama is a Marxist and thinks there are 57 states, readers should ask themselves what corporate profits are doing these days.




Net receipts from corporate income taxes were $2 billion (or 5 percent) less than the sums collected in June 2010. A $3 billion decline in corporate refunds only partly offset a $6 billion (10 percent) decline in gross.





http://imarketnews.com/node/33401
 
tff how kenneth doesn't put GM in that group

further, how does not paying taxes make one a welfare queen? more insane ramblings from the left.
 
using corporate taxes as a percentage of GDP is truly ignorant and proves nothing. not surprised kenneth fell for false logic and correlation.
 
According to the nonpartisan Congressional Budget Office, tax receipts from corporate income taxes are down.


Before the defenders of the rich and powerful claim that's because the economy is bad, readers should ask themselves what corporate profits are doing these days.




Net receipts from corporate income taxes were $2 billion (or 5 percent) less than the sums collected in June 2010. A $3 billion decline in corporate refunds only partly offset a $6 billion (10 percent) decline in gross.





http://imarketnews.com/node/33401
 
I would personally like to thank the unemployed legion and freshman kenneth both being turbo-libs that fall into the republican trap of banning oil drilling.
Thanks Bro's I love me some $96 oil.
 
Superfreak said:
ROFLMAO.... so you pick a year where corporations had MASSIVE losses, numerous bankruptcies etc... and use THAT as an example? That is truly quite comical.
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Stuporcreep - liar, or just ignorant?






Two out of every three United States corporations paid no federal income taxes from 1998 through 2005, according to the Government Accountability Office, the investigative arm of Congress.





The study covers 1.3 million corporations of all sizes, most of them small, with a collective $2.5 trillion in sales. It includes foreign corporations that do business in the United States.





http://dealbook.nytimes.com/2008/08/13/study-tallies-corporations-not-paying-income-tax/






Bank of America hasn’t paid a nickel in federal income taxes for the past two years, and in fact raked in an additional $1 billion in tax “benefits.”


The bank is enjoying these profits after accepting $45 billion from taxpayers, which the company then got to count as a deduction when they paid back the money.



http://www.thenation.com/blog/159503/when-illegal-doesnt-matter-us-uncuts-national-day-protest
 
In 1986, President Ronald Reagan fully abandoned his earlier policy of showering tax breaks on corporations.




The Tax Reform Act of 1986 closed tens of billions of dollars in corporate loopholes, so that by 1988, the overall effective corporate tax rate for large corporations was up to 26.5 percent.




That improvement occurred even though the statutory corporate tax rate was cut from 46 percent to 34 percent as part of the 1986 reforms.




In the 1990s, however, many corporations began to find ways around the 1986 reforms, abetted by tax-shelter schemes devised by major accounting firms.




Effective corporate tax rates then plummeted, thanks to Bush administration-backed tax breaks passed in 2002 and 2003, continued corporate offshore tax-sheltering, and the refusal of the Bush White House to crack down on even the most abusive inherited corporate tax-sheltering activities.




Corporate taxes paid for more than a quarter of federal outlays in the 1950s and a fifth in the 1960s.




They began to decline during the Nixon administration, yet even by the second half of the 1990s, corporate taxes still covered 11 percent of the cost of federal programs.




But in fiscal years 2002 and 2003, corporate taxes paid for a mere 6 percent of federal expenses.






http://reclaimdemocracy.org/corporate_welfare/real_tax_rates_plummet.php
 
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