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

And, you know what? That has abosolutely nothing to do with raising taxes on domestic corporations.

I'll ask you--a bean counter--what, "loopholes", do domestic businesses need to do without?

Those are domestic companies, many of them just have shells operating abroad and not actual operations abroad... And the IRS has caught on to some it, and are going to issue an new form to collect on some of that revenue. It's called the 1099 K.
 
I'd consider it a loophole, because some companies have matstered finding actual holes in the code to avoid paying taxes.

Such as? Have an example?

The tax code wasn't designed to encourage shell companies and tax avoidance.

Of course it was. That's what they paid for.
 
Those are domestic companies, many of them just have shells operating abroad and not actual operations abroad... And the IRS has caught on to some it, and are going to issue an new form to collect on some of that revenue. It's called the 1099 K.

That appears to be what GE is doing. Do you really think the government cares when they make the head of GE their jobs czar?
 
This conversation is back-a$$wards.

Why do we tax? The Federal Government needs money by which to operate.

Upon what should the Federal Government operate? That which is constitutional.

What is constitutional? Besides the items to physically operate the Congress, the Executive, and the Judiciary, and a few other items found in the Constitution, those that are in Article I, section 8 are the constitutional powers of the Federal Government.

If that were done, the budget of the United States would be cut by around 75%.

Why not remove taxes from companies? Companies from around the world would flock to the U.S. to set up manufacturing and other facilities. Besides, the public pays the taxes anyway. It's like the gasoline or liquor tax. They are just hidden. Besides, with 75% or more of the government gone, taxes would decrease on individuals even if we did away with taxes on businesses.

If companies flock to the U.S., what would happen to unemployment? It would dramatically decrease.

If unemployment decreased, what would happen to wages? They would dramatically rise.

Naturally, we would need to minimize our regulations and only keep those that are absolutely necessary for the well-being of the country and its people. Instead of being jealous and greedy, we should look for ways to maximize the ability of everyone to succeed and not seek to punish those who actually do succeed. Again, that is back-a$$$wards.
 
Those are domestic companies, many of them just have shells operating abroad and not actual operations abroad... And the IRS has caught on to some it, and are going to issue an new form to collect on some of that revenue. It's called the 1099 K.

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"?
 
I don't have a huge problem with that. But, that isn't what've argued to date. So, don't ventrue too far from what I actually said.

Your comment was enigmatic

you have no problem with a corporation paying taxes in two countries on the same profit or you do?
 
This conversation is back-a$$wards.

Why do we tax? The Federal Government needs money by which to operate.

Upon what should the Federal Government operate? That which is constitutional.

What is constitutional? Besides the items to physically operate the Congress, the Executive, and the Judiciary, and a few other items found in the Constitution, those that are in Article I, section 8 are the constitutional powers of the Federal Government.

If that were done, the budget of the United States would be cut by around 75%.

Why not remove taxes from companies? Companies from around the world would flock to the U.S. to set up manufacturing and other facilities. Besides, the public pays the taxes anyway. It's like the gasoline or liquor tax. They are just hidden. Besides, with 75% or more of the government gone, taxes would decrease on individuals even if we did away with taxes on businesses.

If companies flock to the U.S., what would happen to unemployment? It would dramatically decrease.

If unemployment decreased, what would happen to wages? They would dramatically rise.

Naturally, we would need to minimize our regulations and only keep those that are absolutely necessary for the well-being of the country and its people. Instead of being jealous and greedy, we should look for ways to maximize the ability of everyone to succeed and not seek to punish those who actually do succeed. Again, that is back-a$$$wards.

pandering to envy and class warfare is what motivates the left's view of taxes. Remember what Obumble said-he would raise CG taxes EVEN IF IT DID NOT INCREASE REVENUES BECAUSE ITS FAIR (fair being those who don't pay income taxes are mad that the rich get a lower tax rate on capital gains)
 
Lowering the tax rate in itself is not going to do anything if the tax code doesn't end most deductions, and I think it's funny how you assume a higher net income is going to all go towards the retained earnings account. You are a trickle down theory guy. The fact is, they avoided 60B in taxes, so we should all be benefiting from that right now. Where is the evidence we are benefiting? Most of the people in this country want a job, or even a full time job with benefits. That's 60B that should have gone back into production, right? That's 60B that Canada, Germany, and Japan's economy didn't pay their corporations.

The government isn't in the business of saving anybody money. You want the government to lower GE's taxes, so they can save money in paying doilette and touche (or whoever) to file their taxes. You think that doilette and touche and the rest of the Big Four are going to lower tax and audit costs, because the government lowered taxes? That's kind of funny.

It may have, if we didn't have an out of control, over-regulating government.
 
Japan has a higher tax rate than America, and US companies pay less taxes than other industrialized countries because of all the deductions, tax shelters, and loopholes. I have been reading about this for the past 20 minutes, and I might start a post on it in a few minutes. The fact is, US corporations actually pay less taxes than most other countries but the tax rate is high. Lowering the tax rate isn't going to do anything, because more than 50 percent of corporations pay NO taxes at all.

That's not true and we both know it.
 
And this is why Corporations and the rich deserve a tax break!:clap:
 
And this is why Corporations and the rich deserve a tax break!:clap:

Corporations don't deserve tax breaks. They should not be paying taxes. As for the rich, they should be paying the same rate for income taxes as someone who makes $30k and do away with deductions. Probably should simply keep exemptions for oneself, spouse, and up to two minor children.
 
Turtledude read this again please

The study also found that America's Fortune 100 companies, some of which were cited for avoiding U.S. taxes, took in nearly $90 billion in government contracts during the same period.

The report, released Thursday and titled “Corporate America Untaxed: Tax Avoidance on the Rise,” found that the most successful companies have added 44 new subsidiaries in countries recognized as tax havens since the Government Accountability Office examined the subject three years ago.

Then go read the thread on Ge not pay ing a dime taxs on 15billion profits then moving a division to china..

Then after I stop sobbing here for the rich...could you please tell me how the rich are so overtaxed into oblivion that Ted Turner could just "GIVE" yes give a billion dollars to the United Nations...and how Bill Gates and another billionaire could just give a billion each away from charity....yes turtle the rich are really being brutalized.....

But I dont believe we should raise taxs...I never professed raising taxs...just stop whining for godsake OUR rich are doing better even TAXED than any one else in the world....sheesh
 
Your comment was enigmatic

you have no problem with a corporation paying taxes in two countries on the same profit or you do?

maybe he wants to help other nations, and in order to do that he wishes to ensure that no investment ever come back into the United States, but rather stays there?
 
Turtledude read this again please

The study also found that America's Fortune 100 companies, some of which were cited for avoiding U.S. taxes, took in nearly $90 billion in government contracts during the same period.

The report, released Thursday and titled “Corporate America Untaxed: Tax Avoidance on the Rise,” found that the most successful companies have added 44 new subsidiaries in countries recognized as tax havens since the Government Accountability Office examined the subject three years ago.

Then go read the thread on Ge not pay ing a dime taxs on 15billion profits then moving a division to china..

Then after I stop sobbing here for the rich...could you please tell me how the rich are so overtaxed into oblivion that Ted Turner could just "GIVE" yes give a billion dollars to the United Nations...and how Bill Gates and another billionaire could just give a billion each away from charity....yes turtle the rich are really being brutalized.....

But I dont believe we should raise taxs...I never professed raising taxs...just stop whining for godsake OUR rich are doing better even TAXED than any one else in the world....sheesh

stop and think lpast.

companies are moving overseas because they are overtaxed here.


and your solution


is to raise those taxes even more.



....and how, exactly, do you anticipate they will respond to you adding in massive new incentives for them to move overseas and never return?
 
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?

good point, close the loop hole that allowed this to happen, and leave don't raise taxes. You enjoy the benefit of this country, you pay taxes. If I work as a consultant, and I am based out of the USA, and I travel to Europe and consult and but the profits of this job in a Swiss account, I have to report this income. If I don't, the IRS should be knocking on my door. If these companies use an illegal slip of the pen, then fine the f out of them and get the back taxes. If they were allowed to do this as the result of a loop hole then close it.

In AZ, they started enforcing the tax code, and it increased the budget, what a concept. If this is something the executive branch of the US is not enforcing, then let but this out there for all to see. Transparency.
 
stop and think lpast.

companies are moving overseas because they are overtaxed here.


and your solution


is to raise those taxes even more.



....and how, exactly, do you anticipate they will respond to you adding in massive new incentives for them to move overseas and never return?

CPwill you keep telling me that and yet there is so much evidence posted on this board even...that its simply not true...corporations pay a pittance and some get subsidies OVER and above all the writeoffs like big oil...and just how do you explain away ge...got a 300 billion dollar tax payer credit on 15 billion dollars in profit and moved an entire division to china....CP i know you desparately want to change peoples minds...you want to give corporations and the richest of the richest big tax hikes and take everything off of workers...you told us that many times over...but other people will never be convinced of that...me for one sorry
 
stop and think lpast.

companies are moving overseas because they are overtaxed here.


and your solution


is to raise those taxes even more.



....and how, exactly, do you anticipate they will respond to you adding in massive new incentives for them to move overseas and never return?

What you failed to mention is that GE moved their factories because they get breaks on taxes, pollution, and labor costs. BUT, they still have their corporate offices and warehouses here in the states.

Don't raise their tax rate, make them pay their share by closing the loop holes that allows them to hide profits outside of the USA and enjoy the comforts of being a USA citizen. If GE wants to move overseas, they should move completely, but they need to take all of their company, everything, and let them enjoy the protection of the country that is give them the tax break. They should not be using my streets, my police, my military, my government, and the banks that federally insured to protect their assets. GE basically told me you cannot survive in my country because you are over taxed, they should LEAVE.

Hey, if a company chooses to relocate in from AZ to Mississippi, they take everything, and don't enjoy the protection from the state of AZ, and they don't continue being a burden on the infrastructure.
 
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CPwill you keep telling me that and yet there is so much evidence posted on this board even...that its simply not true...corporations pay a pittance and some get subsidies OVER and above all the writeoffs like big oil...

some pay less, others pay more. retailers, for example, pay damn near the nominal tax rate. however, our high tax rate ensures that companies go to great lengths and expense trying to minimize their exposure, you are correct. why you want to increase that, I still have no idea.

just how do you explain away ge...got a 300 billion dollar tax payer credit on 15 billion dollars in profit and moved an entire division to china...

you didn't know? they're on the special "Friends Of Obama" program :D

CP i know you desparately want to change peoples minds...you want to give corporations and the richest of the richest big tax hikes and take everything off of workers...you told us that many times over.

excellent. then you will be able to link to at least a single incident of me saying so.
 
What you failed to mention is that GE moved their factories because they get breaks on taxes, pollution, and labor costs. BUT, they still have their corporate offices and warehouses here in the states.

as of yet, yes.

Don't raise their tax rate, make them pay their share by closing the loop holes that allows them to hide profits outside of the USA

ah. so you want to stop them from having their corporate offices and warehouses here. have them overseas as much as possible.

the US is one of the very few nations dumb enough to tax capital earned overseas when it is brought back. We deliberately punish companies for trying to invest in America. And then we are astonished when they do not.

If GE wants to move overseas, they should move completely, but they need to take all of their company, everything, and let them enjoy the protection of the country that is give them the tax break.

they won't. they will just place their nominal headquarters somewhere else, and keep the operations that are profitable here, here. and never expand here. enjoy that high unemployment rate, because under your proposal, it is here to stay.
 
cpwill;1059699351]as of yet, yes.

ah. so you want to stop them from having their corporate offices and warehouses here. have them overseas as much as possible.

the US is one of the very few nations dumb enough to tax capital earned overseas when it is brought back. We deliberately punish companies for trying to invest in America. And then we are astonished when they do not.

So explain to me how they are investing in the America by moving operations from the US to China?

So by investing in America, do you mean, have their corporation here, enjoy the protection of the USA, but operate outside the USA to increase their profits because the American work is paid more then the Chinese National?

So by investing in America, does that mean they should get gov't contracts, hide profits in foreign countries, hire foreign workers, buy foreign production material, and not pay taxes. Because that is what GE will continue to do. So, if Obama or Bush or the GOP controlled House or the Senate is allowing this, then there is a problem.

To me that is not investing. Companies are outsourcing because of labor costs. If they could pay american workers dirt, they would stay here. If they could polute, they would stay here. I am not convinced they are moving because they are overtaxed.

they won't. they will just place their nominal headquarters somewhere else, and keep the operations that are profitable here, here. and never expand here. enjoy that high unemployment rate, because under your proposal, it is here to stay.

My point they reap the benefits, e.g. infrastructure, protections, gov't contracts, etc., and they don't still don't invest in America. High employment happened because Wall Street got drunk and we let them, then we bailed them out. GE was moving ops outside America before this occurred. Nice try.
 
maybe he wants to help other nations, and in order to do that he wishes to ensure that no investment ever come back into the United States, but rather stays there?

good point-lots of lefties are ambivalent to outright hateful of America.
 
stop and think lpast.

companies are moving overseas because they are overtaxed here.


and your solution


is to raise those taxes even more.



....and how, exactly, do you anticipate they will respond to you adding in massive new incentives for them to move overseas and never return?

and then piss and moan when jobs go overseas
 
good point-lots of lefties are ambivalent to outright hateful of America.

good diversion tactics, blame it on the lefties, and call them un American.
 
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