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

  1. #21
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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by 305rob305 View Post
    And I bet millions of Americans collected welfare and didn't pay any taxes as well....
    If your saying any taxes, you'd likely be wrong.

    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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    Quote Originally Posted by Boo Radley View Post
    If your saying any taxes, you'd likely be wrong.
    You're right... They probably paid taxes for those latest Nike's they bought with government money. Oh wait, its not their money in the first place...lol

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    Let's realize something here people... Greed has killed america from both sides. The poor for demanding more entitlements and believing they "deserve" more and the rich for the $$

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

    Quote Originally Posted by 305rob305 View Post
    You're right... They probably paid taxes for those latest Nike's they bought with government money. Oh wait, its not their money in the first place...lol


    Have you ever been poor? Just asking . . .

    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 305rob305 View Post
    Let's realize something here people... Greed has killed america from both sides. The poor for demanding more entitlements and believing they "deserve" more and the rich for the $$
    That's a huge lobby the poor has. Those bastards.

    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 1Perry View Post
    Loopholes are where people take advantage of a law that was never intended to allow them to do what they are doing. These are not loopholes. They were written to allow them to do the very things they are doing.
    That is a value judgement you are making that is clearly wrong. A loophole can be just what you described and intended to function just as it is being used and still be a loophole. It does NOT mean somebody is doing something never intended by the tax code or by the law. You are making that up without any foundation of fact to support it.

    For you to state what you did assumes that you know every single reason why every item in the tax code was written and who it is there for and how it is intended to be used. And that is simply impossible for you to know.
    Last edited by haymarket; 07-29-11 at 12:59 AM.
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    Re: Study finds Corporate America avoided $60B in taxes (2010)

    Quote Originally Posted by Boo Radley View Post
    That's a huge lobby the poor has. Those bastards.

    They have their own super pacs don't they?

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

    Quote Originally Posted by winston53660 View Post
    They have their own super pacs don't they?
    best money can buy.

    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
    You're right, it's not a loophole. And your right, neither party really does anything that might actually get the wealthy to pay. But, it is a problem all the same, and should be tackled.
    Indeed but it isn't likely that anyone will.

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

    Quote Originally Posted by haymarket View Post
    That is a value judgement you are making that is clearly wrong. A loophole can be just what you described and intended to function just as it is being used and still be a loophole. It does NOT mean somebody is doing something never intended by the tax code or by the law. You are making that up without any foundation of fact to support it.

    For you to state what you did assumes that you know every single reason why every item in the tax code was written and who it is there for and how it is intended to be used. And that is simply impossible for you to know.
    That maybe a couple Senators didn't know what they were voting on doesn't negate the definition.

    Loophole

    1. A way of escaping a difficulty, especially an omission or ambiguity in the wording of a contract or law that provides a means of evading compliance.

    There is no law addressing this, period.

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