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

  1. #101
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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?
    Not very responsive. Would you say corporations taking deductions for paying their employees health insurance should be stopped. Individuals can't take that as a deduction. How about the rules allowing companies to deduct so called depreciation on machinery that it buys. How about the ability to deduct advertising?

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

    Quote Originally Posted by Boo Radley View Post
    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?
    I'm questioning what you define as, "what you owe". Going by the government's definition of, "taxable income", what you owe is your net profit, after deductions. But, you want to end all deductions that allow corporations to pay less than they, "owe".

    Ready to make a point, yet?

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

    Quote Originally Posted by Boo Radley View Post
    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.
    Which ones, exactly?

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

    Quote Originally Posted by washunut View Post
    Not very responsive. Would you say corporations taking deductions for paying their employees health insurance should be stopped. Individuals can't take that as a deduction. How about the rules allowing companies to deduct so called depreciation on machinery that it buys. How about the ability to deduct advertising?
    Because they're not spending the money, the company is.

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

    Quote Originally Posted by haymarket View Post
    Can you wrap your mind around the reality that the tax code contains loopholes?
    Can you identify those loopholes? Or, are they actually legitimate deductions and you just call them loopholes, because you think that corporations are getting hosed hard enough by the government?

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

    Quote Originally Posted by apdst View Post
    Because they're not spending the money, the company is.
    No I am talking about individuals who have to buy their own insurance.

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

    Quote Originally Posted by apdst View Post
    Which ones, exactly?
    I think I said any and all. You know of one, cut it.

    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 Tettsuo View Post
    No matter how you slice it, the right are still promoting the failed theory of trickle down economics. The problem is we have 40 or more years of proof that it doesn't work. This push back from actually taxing the rich at the same overall rate as the middle class is simply a reflection of a policy that does not help anyone but the mega rich and certainly doesn't help the country.
    The way I slice it, the Left doesn't have the first clue what trickle down economics really is. The idea that it can only start with rich people is naive, at best.

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

    Quote Originally Posted by washunut View Post
    No I am talking about individuals who have to buy their own insurance.
    How much are they not paying because of the earned income credit and the child tax credit? Do they really need to be able to deduct their insurance?

    But, since Obamacare mandates health insurance, it's probably a ligitimate deduction, now.

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

    Quote Originally Posted by Boo Radley View Post
    I think I said any and all. You know of one, cut it.
    Give us an example. Are you saying that I shouldn't be able to write off my interest payments, or the FET that I pay on tires? How about the rent on my shop?

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