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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 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.
    70 years of welfare socialism is why we have the mess we have today. when politicians create a system where most people aren't paying for the increased government spending politicians use to buy votes, the spending goes through the roof



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

    Quote Originally Posted by TurtleDude View Post
    70 years of welfare socialism is why we have the mess we have today. when politicians create a system where most people aren't paying for the increased government spending politicians use to buy votes, the spending goes through the roof

    Can you support that steaming pile of do dung summation?

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

    Quote Originally Posted by 1Perry View Post
    Let me get this right.......They avoid paying their taxes so the solution is to make them even higher? This is a problem Obama said he was going to tackle and as we see, he's done nothing of the sort.

    GE avoids paying their taxes by moving over seas and the solution is to tax the successful grocery store owner at a higher rate?
    see, the trick is, we have the second highest corporate tax in the world, which forces our businesses to devote massive amounts of resources to tax avoidance strategies.

    so, the solution is to jack up that rate even higher, so that they are stuck in a lose-lose scenario where they are forced to devote more resources to tax avoidance.... and we keep doing this until all the evil corporations move out of the nation all-together.

    that'll teach those richy rich types!!! yeah!!! stick it to ourselves the man!!!

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

    Quote Originally Posted by cpwill View Post
    see, the trick is, we have the second highest corporate tax in the world, which forces our businesses to devote massive amounts of resources to tax avoidance strategies.

    so, the solution is to jack up that rate even higher, so that they are stuck in a lose-lose scenario where they are forced to devote more resources to tax avoidance.... and we keep doing this until all the evil corporations move out of the nation all-together.

    that'll teach those richy rich types!!! yeah!!! stick it to ourselves the man!!!
    They could just pay their taxes.
    Quote Originally Posted by Bucky View Post
    The economy will improve under this bill. If a few people die, it will be for the betterament of this country.

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

    Quote Originally Posted by cpwill View Post
    see, the trick is, we have the second highest corporate tax in the world, which forces our businesses to devote massive amounts of resources to tax avoidance strategies.

    I wonder how much is expended on that in a comparative analysis of other nations?

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

    Nothing in the linked article showed that the companies did anything illegal. They simple used the existing tax code.
    There are many private citizens who itemize to the max to reduce their tax burden. The question should be does the existing tax code for business and private citizens need to be revamped and simplified? I think it is overdue. Maybe then companies would not be inclined to set up off shore.
    "I can explain it to you but, I can't understand it for you"

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

    Quote Originally Posted by CriticalThought View Post
    They could just pay their taxes go out of business.
    fixed that for you.

    our companies, like it or not, are in a global competition - and our tax code actively harms their position. currently foreign products sell better in the United States simply because of their tax advantage. I think on average the comparative advantage is around 17%.

    for the past couple of decades, everyone else has been streamlining and lowering their business taxes. because they want business to do well. we haven't. Canada, for example, has taken to slashing it's Corporate Tax rate, which is now around 15%. They also don't tax dividends under Corporate Income, so no double-taxation. Care to guess how well Canada's recovery is doing compared to ours?

    we are uncompetitive because our tax system is incredibly stupid. and this is one of the stupidest parts of it. we actively discourage businesses from setting up shop here.


    Mike makes a great point - these companies didn't do anything that a middle class family that deducts their mortgage interest does.

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

    Quote Originally Posted by cpwill View Post
    fixed that for you.

    our companies, like it or not, are in a global competition - and our tax code actively harms their position. currently foreign products sell better in the United States simply because of their tax advantage. I think on average the comparative advantage is around 17%. .

    Or maybe like in the case case of Japanese cars they make cars people will buy.

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

    Quote Originally Posted by winston53660 View Post
    I wonder how much is expended on that in a comparative analysis of other nations?

    much more. in 2010, America spent about $431 Billion in compliance costs - most of it trying to figure out and then minimize our exposure to the tax code. $431 Bn is roughly the entire economy of Taiwan. It is enough to fight Iraq, Afghanistan, and fund the Department of Agriculture, Department of Education, Department of Energy, and NASA.


    that's why Right, Left, and Center, everyone agrees that we need to simplify the tax code. doing so in an effective rate neutral manner would squeeze those billions back into production, where they would create massive amounts of wealth and jobs. even if we only reduced complexity by half, it's estimated that that alone would be worth half a point of GDP added each year, compounding.

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

    Quote Originally Posted by cpwill View Post
    much more. in 2010, America spent about $431 Billion in compliance costs - most of it trying to figure out and then minimize our exposure to the tax code. $431 Bn is roughly the entire economy of Taiwan. It is enough to fight Iraq, Afghanistan, and fund the Department of Agriculture, Department of Education, Department of Energy, and NASA.


    that's why Right, Left, and Center, everyone agrees that we need to simplify the tax code. doing so in an effective rate neutral manner would squeeze those billions back into production, where they would create massive amounts of wealth and jobs. even if we only reduced complexity by half, it's estimated that that alone would be worth half a point of GDP added each year, compounding.

    I said comparative.

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