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Thread: Study finds Corporate America avoided $60B in taxes (2010)

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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by celticwar17 View Post
    I think the majority of opinion on both sides is that they need to close tax loop-holes.
    I can't wait for someone to tell us exactly which, "loopholes", should be closed. Does that mean that corporations are going to have to pay taxes on money spent doing business?

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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by apdst View Post
    I can't wait for someone to tell us exactly which, "loopholes", should be closed. Does that mean that corporations are going to have to pay taxes on money spent doing business?
    How about any and all deductions that allow you to pay less than you owe?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by Boo Radley View Post
    How about any and all deductions that allow you to pay less than you owe?
    Define, "owe", in this case. Are you suggesting that corporations be taxed on their gross profit?

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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by winston53660 View Post
    Can you support that steaming pile of do dung summation?
    its obvious, our national debt has been growing and growing during the time we have progressive income taxes. as the rich have assumed a greater share of the income tax burden, the deficit has increased.



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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by apdst View Post
    I can't wait for someone to tell us exactly which, "loopholes", should be closed. Does that mean that corporations are going to have to pay taxes on money spent doing business?
    the socialists want corporations that make money in say Germany and pay taxes there to also pay taxes on that same income in the USA.



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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by apdst View Post
    Define, "owe", in this case. Are you suggesting that corporations be taxed on their gross profit?
    Federal taxable income is defined in a comprehensive manner in the Internal Revenue Code and regulations issued by the Department of Treasury and the Internal Revenue Service. Right? And gross income includes all income earned or received from whatever source. Again, right?

    What are you actually questioning?

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by Boo Radley View Post
    How about any and all deductions that allow you to pay less than you owe?
    if deductions are part of the tax code than not taking them means you pay more than you legally owe.

    the biggest loophole? those who are on the dole having the same votes as those who fund most of the government



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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by TurtleDude View Post
    the socialists want corporations that make money in say Germany and pay taxes there to also pay taxes on that same income in the USA.
    I don't have a huge problem with that. But, that isn't what've argued to date. So, don't ventrue too far from what I actually said.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by TurtleDude View Post
    the socialists want corporations that make money in say Germany and pay taxes there to also pay taxes on that same income in the USA.
    The Lefties don't have the first clue how things work in the real world.

    This is proof:

    How about any and all deductions that allow you to pay less than you owe?

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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by TurtleDude View Post
    if deductions are part of the tax code than not taking them means you pay more than you legally owe.

    the biggest loophole? those who are on the dole having the same votes as those who fund most of the government
    We know that. Go back and read the thread. What is being argued, and what I was careful to say, was to do away with those adjustments or reductions. That is what is really being argued.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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