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

  1. #171
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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by lpast View Post
    Ahh cpwill...profits are soaring for american corporations and your still spinning tales of woe for them....their profits are through the roof, higher than ever and your still harping they pay to much taxs....
    no. I am arguing that our nominal tax rate is too high, and encourages them to waste massive amounts of resources in tax minimization strategies rather than maximizing production and expansion.

  2. #172
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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by lpast View Post
    Listen turtle i could give a **** less what you paid in taxs and thats not doing squat for your country...the more you pay in taxs the more you made or took so stop whining
    Going to school and being a professional student is NOT doing anything for your country thats taking...thats your country GIVING to you.

    When the country had a military draft there was very conveniently slid in a college deferment...if you had a rich daddy and COULD AFFORD to go to college you didnt have to go to combat...how sweet is that...so what that breaks down to is...if you cant afford college than you go to war and possibly die, the ones that can afford it get to go sit on their ass for a few hours a day and go party all night....so I ask you again what have YOU DONE FOR YOUR COUNTRY that gives you this self righteous idea that you can stick it up everyones keister that has less than you just because your you and you think you can
    Some gave some, some gave all....and alot gave NOTHING
    it is a worthy point to bring in the draft. Like those who pay taxes, those who were drafted were doing something "for the country", but they weren't exactly doing it out of willingness or a desire to help. They were doing it because it was the law.

    volunteers, however, could be said to have done something willingly for the country, and could perhaps be compared with those (few) souls who contribute extra to the pay-down-the-debt-fund that the Treasury accepts donations for.

  3. #173
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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by lpast View Post
    Your full of it
    Quote Originally Posted by lpast View Post
    Not enough...oh and tell us there turtledude what is it you have ever done for your country aside from take and whine

    Cmon you can do it...wont take much space...or maybe your a haaaavaaarrd failure...or maybe your not harvard at all...either way it does sound good
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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by 1Perry View Post
    Such as? Have an example?



    Of course it was. That's what they paid for.
    I gave plenty of examples in my previous posts, it's as if you didn't even read it... and you just wrote a response like "those aren't tax loopholes." They are loopholes because the affects were not anticipated or what the IRS wanted to happen. Those credits were meant to help companies out, not lead to companies creating shell companies to avoid paying taxes all together. Smart people who study the tax code have found ways to get around paying taxes on money and getting credits for paying a single expense two or more times but funneling it through shell companies, which appear to be separate companies that have little to no taxable income. That is exactly why the IRS is actually creating new forms this year.

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

    Quote Originally Posted by The Barbarian View Post
    You have got to be joking, you think that you can tax business at a nominal rate of near 40% of their gross profit ??? You are a prime example of why a liberal could never make it in business.

    I can't but to wonder if you even know what gross profit is.
    Unfortunately, gross profit is a confusing word if you do not have a business or accounting background. Technically, gross profit is revenue less cost of revenue.... operating expenses are then deducted from gross profit to yield net income for interest and taxes (usually). My guess is the "lay" definition (what those not versed on business or accounting) would like of as gross profit. The tax deductions/loopholes, however, are the book/tax differences in various expenses, including depreciation, amortization and cost allocations that move costs domestically, but offshore revenue (and therefore profits). Its the 2nd set of books that cause the problem.

    We should lower corporate tax rates to 25%, but eliminate many tax preferences and crack down on FISC/DISCs and other offshoring schemes. For business, tax simplification would very much be in our interest.

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

    Quote Originally Posted by apdst View Post
    It may have, if we didn't have an out of control, over-regulating government.
    The government has nothing to do with it, this is the private sector getting 60b more...

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

    Quote Originally Posted by apdst View Post
    That's not true and we both know it.
    Study says most corporations pay no U.S. income taxes | Reuters

    Maybe you should study the facts again... Do your own research. I highly encourage it.

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

    Quote Originally Posted by SheWolf View Post
    The government has nothing to do with it, this is the private sector getting 60b more...
    You'd be surprised - a large portion of the 'private sector' are employed via government by proxy . . . manufacturing goods, materials, providing services adn research - and so on.

    So - ergo - they work for the man and then sidestep uncle sam. Sounds sleazy
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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by apdst View Post
    Those are international companies. I'm talking about corporations that don't have any kind of overseas operations, unless maybe they're purchasing a piece of equipment, or buying parts, etc. You know, about 90% of, "Corporate America"?
    Many of those companies don't have operations overseas. They just have shells set up, which incur expenses for the domestic corporation to get credits and deductions with. Furthermore, they can indefinitely tie up assets in those foreign shells and hide money that way. NO OVERSEAS OPERATIONS. I repeat, just a shell that buys **** from the domestic company such as patent rights that will never be used, because the company has no actual operations and is not producing anything... it's just a way for domestic companies, with purely domestic operations, to take full advantage of tax credits and deductions and get huge refunds. A shell could also buy inventory, drive down the supply in the market, then reseal it well it's more valuable... report a domestic tax credit or deduction for the expenses associated with producing the item domestically, then resell it from the shell aboard and take an additional domestic tax credit on it through the title passage loophole.

    Domestic companies do this because transferring money out of the domestic company can allow the domestic company to get tax credits and deductions, but the IRS is trying to close this loophole with a new tax form.

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

    Quote Originally Posted by cpwill View Post
    it is a worthy point to bring in the draft. Like those who pay taxes, those who were drafted were doing something "for the country", but they weren't exactly doing it out of willingness or a desire to help. They were doing it because it was the law.

    volunteers, however, could be said to have done something willingly for the country, and could perhaps be compared with those (few) souls who contribute extra to the pay-down-the-debt-fund that the Treasury accepts donations for.

    This will be my last post in this thread...I want to respond to you CPwill so you didnt think I was ignoring you

    I didnt bring up the draft as an example of draftees I brought it up as an example of how the rich take advantage over others.
    It doesnt matter if they were drafted willfully or not...the point that you missed is that, the rich and powerful wrote a law into the draft code that enabled their privledged kids to avoid the draft entirely and the less fortunate everyday americans had no out. Back then there were no student loans or any aid...
    You may think thats perfectly ok to do...I think its never ok to manipulate which mans son takes the ultimate risk while the other mans son gets to play.

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