Thank you apdst for helping to expose this right wing conservative talking a point as a fraud.
this article shows how Herman Cain and Rick Perry - both failed right wing conservative candidates for the GOP nomination advocated such nonsense.
Mitt Romney in Detroit today perpetuated the fraud that apdst wisely knows not to be trueTwo Republican presidential candidates, Herman Cain and Rick Perry, have proposed tax reform proposals to stimulate the economy and spur job growth. Both proposals share many desirable attributes, such as simplifying the complex tax code, lowering the corporate tax rate to become globally competitive again, eliminating the death tax and capital gains tax to increase capital mobility, eliminating taxes on repatriated foreign earnings of U.S. multinational companies so they make investments at home, and maintaining revenue neutrality so the tax cuts will not add to the federal budget deficits.
and Rick Santorum also pushes the fraud
I am very glad that apdst can see through this fraud and knows such tax cuts to corporations will not spur hiring and jobs.
Last edited by haymarket; 02-24-12 at 11:05 PM.
There are two novels that can change a bookish fourteen-year old's life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.... John Rogers
To be truthful of Obama is sincere on this then I support it 100%. We should end the tax loopholes and lower the tax rate. Certain companies that get away with paying no taxes should not be able to legally get away with that.
Tired of elections being between the lesser of two evils.When the debate is lost, slander becomes the tool of the loser. -Socrates
See, you didn't clarify what you meant, you instead avoided admitting that you ****ed up while you were pretending to know what you are talking about. Clarifying occurs when you weren't clear. In this case, your statement was very clear, and also very wrong.
Tucker Case - Tard magnet.
Despite the fact that these 25 corporations recorded profits for which they paid no tax (2008-10), they actually received an additional $114.8 billion from the federal government in tax refunds.25 Companies with the Largest Total Tax Subsidies: 2008-10
Company - ($-millions) - Tax breaks
Wells Fargo $ 17,960
Verizon Communications 12,332
General Electric 8,398
International Business Machines 8,265
Exxon Mobil 4,096
PNC Financial Services Group 3,354
Goldman Sachs Group 3,178
Procter & Gamble 3,158
PG&E Corp. 2,726
American Electric Power 2,610
Devon Energy 2,563
Wal-Mart Stores 2,511
American Express 2,427
NextEra Energy 2,380
Chesapeake Energy 2,303
Duke Energy 2,132
Union Pacific 2,012
United Technologies 1,986
Total these 25 companies $ 114,815
Other 255 companies 107,885
All companies $ 222,701
Last edited by jgarden47; 02-25-12 at 12:10 PM.
These companies probably paid quarterly taxes, which are shown as deductions on their 1040C. More than likely, the reason they received refunds, is because they overpaid their quarterly payments.
I've made quarterly payments for 2010 and 2011 and received a refund for both.
All that aside, all those companies paid millions, if not billions in payroll taxes, SS and medicare. So, the notion that they paid nothing is rediculous.