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

  1. #191
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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by SheWolf View Post
    I gave plenty of examples in my previous posts, it's as if you didn't even read it...
    No you didn't. You ranted about child tax credits and stuff. Do you have an actual example of a law that was intended to do one thing but corporations were able to find a "loophole" to get around 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.
    Please, show me one of these laws. As an aside....the IRS can't simply change the law by changing a form.

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

    Quote Originally Posted by SheWolf View Post
    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.
    If that isn't one of the most misleading headlines ever written, it's in the top 5.

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

    Quote Originally Posted by Boo Radley View Post
    We have as much or more capital than anyone else. We want more, greed if you will, getting the cheapest labor, slave if possible, paying out the least, nothing would be best. As long as they can go somewhere else for this, taxes are almost meaningless.

    What I'm saying is, there is nothing we can give them to keep them here. We would have to be willing to lower our standard of living to match where they're going. I think this is clear.
    Nothing we could give them? Like you have something you could give them? You are absolutely wrong and I've noted the framework more than once.

    First we would have to quit piling regulation upon regulation upon regulation on companies. There are some understandable ones that everyone would agree on but off the top of my head. I would love to be able to take time off as opposed to extra pay for working OT. I rarely work OT because the money isn't that important. I would work it if I was able to take it as time off sometime else. Not allowed. Now this list is endless but let's move on.

    We then tax upon country of origin. (simply made up numbers). Sell toasters made in the U.S.A.? Pay a 23% rate. Sell toasters made in China? Pay a 35% rate.

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

    Quote Originally Posted by Ikari View Post
    We have to! If we tax them, we won't have any jobs. Won't somebody PLEASE think of the jobs!?
    Exactly, why would any rationale thinking person treat a chronic problem while ignoring an acute problem (jobs)!!!!!!!!
    Dylan Ratigan accurately compared it to an overweight guy with a broken leg going to the emergency and they say you need to lose weight.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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

    Quote Originally Posted by cpwill View Post
    i don't think any more highly of student deferrments than i think of the civil war system where you could hire someone to fight for you. though yes, that was something that our upper middle and upper classes writing in protection for their own. Someone Else's Son continues to be powerful today - ask anyone on recruiting duty in 2005-2006 how eager the middle and upper classes were for their children to enlist.
    Again only the rich could afford to pay someone to fight for them.....It brings us back to this teaparty assault on the working class...the teaparty that is comprised of the rich and privledged that have done fabulously well while the middle class has suffered and fell behind...want me to believe that they are being abused by the govt, by public workers, by senior citizens and that the entire debt problem is their fault...and has nothing to do with all the polcies that are in place to benefit the rich that put us in debt......cpwill...this teaparty fantasy story will not be a long term success its predicated on pure class warfare from the top down...they will fail in the long run..

    You guys got it made and you want more and more....
    Last edited by lpast; 07-31-11 at 11:01 AM.

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

    dude. i am an E5 in the military. If I am making amazing amounts of money, I want to know where it is.


    in reality, you just have nothing, so you just fall back on crappy, recycled, old-socialist rhetoric.

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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...
    And good for us. Better off in our hands than in the government's coffers. The government will just blow it on some bull****.

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

    Quote Originally Posted by SheWolf View Post
    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.
    The article is clearly focusing on multi-million dollar corporations that operate internationally. It also points to foreign companies.

    It's spin. You know it is, but you keep harping on it, anyway.

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

    Quote Originally Posted by 1Perry View Post
    No you didn't. You ranted about child tax credits and stuff. Do you have an actual example of a law that was intended to do one thing but corporations were able to find a "loophole" to get around it?



    Please, show me one of these laws. As an aside....the IRS can't simply change the law by changing a form.
    The IRS isn't simply changing the law by changing a form... the IRS is issuing the form, because they are want to tax taxable income. Income that is already considered taxable by the code, but isn't being taxed, and can't be taxed because some companies are hiding the money in shells and taking double credits on the same expense.

    One example of a law that was intended to do one thing but corporations were able to find a "loophole" to get around it... I have given examples over and over. AGAIN. Shell companies set up, just to avoid taxes, and get domestic companies tax credits... Shells will buy intangible property to incur expenses, and then the domestic company takes a credit or deduction for that expense. It's falsely incurring expenses and transferring assets to abuse the tax code, because the tax code has a hole in it. The income is still considered taxable. The tax code doesn't encourage shell companies, none of the credits were intended to be generated by falsely engaging in business. It has had an adverse affect, and it's simply a hole that smart people have managed to find and abuse. Because the money is still considered taxable by the tax IRS can simply issue a new tax form, without even changing the tax. The IRS is just trying to enforce the code. Some companies are trying to avoid following it.

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

    Quote Originally Posted by 1Perry View Post
    If that isn't one of the most misleading headlines ever written, it's in the top 5.
    "The Government Accountability Office said 72 percent of all foreign corporations and about 57 percent of U.S. companies doing business in the United States paid no federal income taxes for at least one year between 1998 and 2005."

    The article says it's 57 percent, but read the rest of the article. It varies, depending on how you dissect the statistics. Go ahead and provide a source for your claim.

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