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

1Perry said:
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.
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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.
 
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Boo Radley said:
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.
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Indeed but it isn't likely that anyone will.
 
haymarket said:
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.
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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.
 
I don't know why everybody is complaining about $60B that is going to trickle down to us.
 
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1Perry said:
Who ran things last year? The White House and both houses were run by the Dems and instead of addressing this problem the White House made one of the largest abusers their jobs czar. Tax increases are not going to address this problem.
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Honestly, I don't trust either party to solve any problem. I think they both do the same essentially, serve the same. The status quo, the Republocrats whom proliferate it, are crap.
 
Ikari said:
Honestly, I don't trust either party to solve any problem. I think they both do the same essentially, serve the same. The status quo, the Republocrats whom proliferate it, are crap.
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I wish I could disagree. I really do. :coffeepap
 
1Perry said:
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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Your cute little dictionary ignores the political reality that corporations and others use their money and power to get parts of the tax code written which intentionally and deliberately create loopholes. Honestly Perry, you make me feel like I am trying to explain where babies really come from.

here is an extensive list of intentionally and deliberately created loopholes within laws and tax codes that are designed purposely to allow one to evade taxation



an example of intentionally created loopholes

http://www.kac.org/ftp/file/Publications/loopholes_fiscalfocus.pdf

and more

The Solution: Close Tax Loopholes by Eli Sanders - Seattle News - The Stranger, Seattle's Only Newspaper

and this

Big Oil?s Lust for Tax Loopholes

and even intentionally created loopholes for the middle class come under fire

What about MIDDLE-CLASS Loopholes?

click on this link and then on the FULL LIST to provide a list of over 80 different state and national bills intentionally creating loopholes which have as its purpose tax avoidance by design and intent

Taxes and Budgets - Alec Exposed
 
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GE owns Obama, he does their bidding. When I see the Justice Department bringing legitimate criminal charges against these companies, we can talk. Until then, the whiners need to STFU. Show me where they are doing something illegal. In my opinion, the US Govt is doing things that are worse than illegal.....they are unconstitutional. And those folks that are supporting unconstitutional actions, because something is considered legal, have nothing to complain about.

:coffeepap
 
I have come to realize that many of the corporate cheerleaders on political forums, are not rich and arent any better off than I or many middleclass working class americans...why do they defend corporations and the rich ? because they think they are supposed too because they are Teaparty GOP talking points...I truly believe they are no clue about what corporations and the rich have done to them in the last 20 yrs....
 
lpast said:
I have come to realize that many of the corporate cheerleaders on political forums, are not rich and arent any better off than I or many middleclass working class americans...why do they defend corporations and the rich ? because they think they are supposed too because they are Teaparty GOP talking points...I truly believe they are no clue about what corporations and the rich have done to them in the last 20 yrs....
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Well, they really don't. But they still believe that if one just works hard, they can be like the super rich and don't realize that the super rich are never going to let normal people into their club. Also, it seems that many middle class people vote with the rich against their own interests because they want to be like the rich. Since the rich is who they aspire to be, the middle class may think that if they vote for pro-rich policies, it might make it easier for them to get in the door.

(Please note, this is just my personal speculation.)
 
Mr. Invisible said:
Well, they really don't. But they still believe that if one just works hard, they can be like the super rich and don't realize that the super rich are never going to let normal people into their club. Also, it seems that many middle class people vote with the rich against their own interests because they want to be like the rich. Since the rich is who they aspire to be, the middle class may think that if they vote for pro-rich policies, it might make it easier for them to get in the door.

(Please note, this is just my personal speculation.)
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The rich not only wont let them get rich, they have been taking from them for 20 yrs...resulting in the rich far richer and the middleclass much smaller and the poor poorer....but they blow all evidence of that off...to be honest SO DID I for decades. Im still a registered republican, obviously I finally dont buy into that any longer...the teaparty gave me an epiphany.
 
I find your sources to be specious. Especially this one : Big Oil?s Lust for Tax Loopholes

Quote:
A University of Massachusetts study found that investment in clean energy creates anywhere from two to four times more direct and indirect jobs compared to the same investment in oil and gas production. Investing $1 million to retrofit buildings to make them more energy efficient creates three times more jobs than a $1 million investment in oil and gas. An investment in wind energy creates two and a half times more jobs compared to the same investment in oil and gas. At a time when the federal government must reduce its spending while creating more jobs, it makes much more sense to invest tax dollars in the most cost-effective programs to increase employment.
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A study...however, the reality they are finding in Europe is that those jobs created with tax incentives are temporary and actually lose jobs over the long term.

That article uses the term subsidy over and over without ever defining what they get it for and if it is similar to capital amortization that every company, including small business, gets for capital investment depreciation. If you dont define what the so called subsidy is and how it works you are going to find me suspicious of the definition and find the article as a crusade looking for a war.
 
OpportunityCost said:
I find your sources to be specious. Especially this one : Big Oil?s Lust for Tax Loopholes

Quote:
A study...however, the reality they are finding in Europe is that those jobs created with tax incentives are temporary and actually lose jobs over the long term.

That article uses the term subsidy over and over without ever defining what they get it for and if it is similar to capital amortization that every company, including small business, gets for capital investment depreciation. If you dont define what the so called subsidy is and how it works you are going to find me suspicious of the definition and find the article as a crusade looking for a war.
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Hey - its a free country and you find what you want to find based on what you believe what you want to believe. I expect that.

Perhaps you can explain what is wrong with all the other sources as well?

Perhaps you can explain the list of over 80 state and federal tax proposals from ALEC being used as templates to lower taxes for corporations and special interest groups while you are at it?

Your 'objection' ignores the larger point - these tax loopholes are not accidental or incidental and are created intentionally and with specific purpose.
 
OP thread title said:
Study finds Corporate America avoided $60B in taxes (2010)
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First off, let's be clear about whom this "study" came from....From the first paragraph of the article that the op left out of his post...

...according a new study by The Greenlining Institute, a Berkeley, Calif.-based group that promotes racial and economic justice.
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This highly liberal arm of the "Social Justice" movement out of the far left sees wealth redistribution, and "transformation" of this country as their goal...From their own web page...

The Greenlining Institute is a national policy, organizing, and leadership institute working for racial and economic justice. We ensure that grassroots leaders are participating in major policy debates by building diverse coalitions of grassroots leaders that work together to advance solutions to our nation's most pressing problems. Our leadership Academy has become the "farm system" for tomorrow's social justice leaders, training the best and brightest from our community.

The Greenlining Institute : About the Greenlining Institute
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This group is the 21st century ACORN, and it is amazing that their sources of donation are not listed on their website as far as I can tell. They do however, I'd wager, receive money from the government....Or at least these thugs are tied in with some of the most destructive social progressive thug, communist backed movements in todays America....The Examiner did an expose' on these reprobates here...

For nearly two decades, radical left-wing activists with the Greenlining Institute have used cries of racism to intimidate banks and other financial institutions to make billions of dollars of loans and mortgages based on the ethnic characteristics of neighborhoods instead of the credit-worthiness of the borrowers.
When mobsters do this kind of thing, prosecutors call it running a "protection racket." When radical left-wingers like those at the Berkeley based Greenlining Institute do it, they call it "fighting for social justice."
The Washington Examiner in conjunction with the California Watchdog Project of the Pacific Research Institute has published a five-part series on the Greenlining Institute that brings together all the major players, milestones, tactics, and results of the group's activities since its founding in 1993.

Examiner Special Report: Greenlining Institute's intimidation of banks in the name of 'social justice' | Mark Tapscott | Beltway Confidential | Washington Examiner
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Now the op would like you to believe that Fox News lent credibility to this pap, but even the slightest bit of research into this organization shows that they are a destructive to the fabric of this country, org. Their roots are in the Carter CRA (Community Reinvestment Act) that is at the heart of this country's woes today.

Reject this organization, they are dangerous to this country IMHO.

j-mac
 
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.
 
lpast said:
I have come to realize that many of the corporate cheerleaders on political forums, are not rich and arent any better off than I or many middleclass working class americans...why do they defend corporations and the rich ? because they think they are supposed too because they are Teaparty GOP talking points...I truly believe they are no clue about what corporations and the rich have done to them in the last 20 yrs....
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And the govt cheerleaders and the govt have saved us all, right?

theindividual: "What we're trying to do is save the world from

"What we're trying to do is save the world from the Republican budget. We're trying to save life on this planet as we know it today." - Nancy Pelosi
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Tettsuo said:
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.
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And the left promotes a welfare state.
 
American said:
And the left promotes a welfare state.
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The left promotes policies that increase the middle class. The right promotes policies that destroy the middle class and places them in the poor house.

So who's promoting a welfare state?
 
Tettsuo said:
The left promotes policies that increase the middle class. The right promotes policies that destroy the middle class and places them in the poor house.

So who's promoting a welfare state?
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There is proof that something like 75% of this country get a check from the government in one form or another. Liberals 40 year "War on Poverty" is a complete failure. Since when is middle class defined upon how dependent on the government one is?


j-mac
 
j-mac said:
There is proof that something like 75% of this country get a check from the government in one form or another. Liberals 40 year "War on Poverty" is a complete failure. Since when is middle class defined upon how dependent on the government one is?


j-mac
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What 40 year liberal war on poverty are you talking about? In the last 40 years we've had only 2 liberal-ish presidents, the rest were conservatives. The only war is the war waged by the conservatives on the middle class.
 
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