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Thread: Study: 30 top firms paid no federal income taxes

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    Re: Study: 30 top firms paid no federal income taxes

    30 corporations paid no income tax?

    well, as an opponent of the corporate income tax, i'd call this.... a good start.
    too bad it probably cost them a couple hundred million, or more, in order to pay no income tax.

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    Re: Study: 30 top firms paid no federal income taxes

    Quote Originally Posted by Lachean View Post
    Are you saying you support bank fees brought about by tax increases on the American consumer?

    Of course some companies suffer when they try to increase prices, like Netflix, but that bank fee from BoA is a terrible analogy. Nor does the fact that customers revolt when companies have to increase prices discount the point I made. So yeah, why would I go tell BoA something they already know?

    "Hey, people won't like a new fee." Gee really? What majora$$hole thought that information was warranted?
    you said the companies would pass the cost of any tax increase to the costomer. i said if they did that the costomer would vote with their dollar much like they did with BoA and yes netflix as well. i don't see how it is such a "terrible analogy" seems like a pretty good analogy to me.

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    Re: Study: 30 top firms paid no federal income taxes

    from apdst

    Out here--and not in the chambers of the state senate--a company can't report a profit and pay no income taxes. That's just the way it works.
    Perhaps that is suppose to be the way it works. Sadly, the actual information revealed says the opposite.

    http://money.cnn.com/2011/11/03/news...rporate_taxes/

    http://www.nytimes.com/2011/11/03/bu...udy-finds.html

    Also, please keep in mind that part of this issue is not only companies who manage to avoid paying taxes for a year or a filing period, but the far larger number of companies who pay something in taxation but it is rather little compared to their actual legal rate. Both articles give you the data.
    Last edited by haymarket; 11-04-11 at 08:15 AM.
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    Re: Study: 30 top firms paid no federal income taxes

    Quote Originally Posted by majora$$hole View Post
    you said the companies would pass the cost of any tax increase to the costomer. i said if they did that the costomer would vote with their dollar much like they did with BoA and yes netflix as well. i don't see how it is such a "terrible analogy" seems like a pretty good analogy to me.
    It's expected by pretty much all of the analysts, that the banks will still pass the costs of hte legislation on to consumers. They'll just do it in less obvious ways. You can't truly expect the banking industry to just eat billions of dollars in lost revenue, can you?

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    Re: Study: 30 top firms paid no federal income taxes

    Quote Originally Posted by Mach View Post
    It shows up on P&L? You're right to ask that. Even small companies have non-intuitive finances. Last I checked on big companies it was big oil, and they spend the majority of their earnings on re-investment in the company (equipment, site expansions, R&D, etc.), and stock buy-backs and dividends. Talking like 80% or something on that. Hardly the evil super villans that ignorant propoganda try to push.

    These hack job "studies" are always debunked by less partisan sources as being misleading at best. Often they simply make glaring errors in their reporting due to a lack of understanding accounting, or leave out facts such as a corporation might pay a very large sum in foreign taxes, but because of legal U.S. tax treaties, don't double pay to the U.S., and thus avoid "U.S. federal taxes", but they do pay a lot in taxes. That's part of treaty negotiations, governments use tax benefits to encourage growth in their trade-partner ally. Hardly a corporations issue, even if one tries to classify normal operations of government an issue.
    Thanks. It is amazing how facts, details and true perspective reveal the bias and propaganda behind such reports.

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    Re: Study: 30 top firms paid no federal income taxes

    Quote Originally Posted by Mach View Post
    It shows up on P&L? You're right to ask that. Even small companies have non-intuitive finances. Last I checked on big companies it was big oil, and they spend the majority of their earnings on re-investment in the company (equipment, site expansions, R&D, etc.), and stock buy-backs and dividends. Talking like 80% or something on that. Hardly the evil super villans that ignorant propoganda try to push.

    These hack job "studies" are always debunked by less partisan sources as being misleading at best. Often they simply make glaring errors in their reporting due to a lack of understanding accounting, or leave out facts such as a corporation might pay a very large sum in foreign taxes, but because of legal U.S. tax treaties, don't double pay to the U.S., and thus avoid "U.S. federal taxes", but they do pay a lot in taxes. That's part of treaty negotiations, governments use tax benefits to encourage growth in their trade-partner ally. Hardly a corporations issue, even if one tries to classify normal operations of government an issue.
    I am willing to guess 99.99% of the Country does not have a clue how the US penalizes the crap out of US based multinational companies that want to bring home the foreign sourced earnings but would pay massive US taxes to do so. Nope, its easier to simply claim those companies are greedy and sitting on cash.....that propaganda sells easier than explaining how we are shooting ourselves in the head with terrible tax policies.
    I love the smell of burning moonbat in the morning.

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    Re: Study: 30 top firms paid no federal income taxes

    Study: 30 top firms paid no federal income taxes
    Cool!
    Crapocracy in action. Congrats!

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    Re: Study: 30 top firms paid no federal income taxes

    Quote Originally Posted by buck View Post
    It's expected by pretty much all of the analysts, that the banks will still pass the costs of hte legislation on to consumers. They'll just do it in less obvious ways. You can't truly expect the banking industry to just eat billions of dollars in lost revenue, can you?
    why not? the rest of us have to on a daily basis.

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    Re: Study: 30 top firms paid no federal income taxes

    Quote Originally Posted by Helix View Post
    why not? the rest of us have to on a daily basis.
    If I lost a large source of my income, I would have to find another source of income to make up for it. I think the "rest of us" would too.

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    Re: Study: 30 top firms paid no federal income taxes

    Quote Originally Posted by haymarket View Post
    from apdst



    Perhaps that is suppose to be the way it works. Sadly, the actual information revealed says the opposite.

    Study: Many corporations pay no income taxes - Nov. 3, 2011

    http://www.nytimes.com/2011/11/03/bu...udy-finds.html

    Also, please keep in mind that part of this issue is not only companies who manage to avoid paying taxes for a year or a filing period, but the far larger number of companies who pay something in taxation but it is rather little compared to their actual legal rate. Both articles give you the data.
    You know what that tells you. It tells you that the 35% tax rate the article claims companies are "suppose" to pay is simply a mark used by people like the NY Times and CNN to paint an inaccurate picture and spread their usual propaganda. Anybody with any sense at all knows that a tax rate doesn't mean anything because all of us from ordinary citizens to the big coporations have all kinds of exceptions and loopholes we can use to reduce our rate. For instance, if a company pays a lot of money in foreign taxes that could be used as a deduction when figuring their final bill. It is not an accurate portrayal to say that these companies are "getting away" without paying the taxes they should. They are paying exactly what they should because that is what the tax code allows. Even with the adjustments U.S. companies are still paying more in coporate income tax than a lot of countries. If you pay 35% in corporate income tax you are doing something seriously wrong. Frankly, I would like to see a more direct flat tax that would basically say pay your 20% for example no matter what. However, tax deductions offer incentives that are not only beneficial to the company but may be beneficial to everyone. Like what if a deduction was based on how many new jobs you created.

    Once again, another misleading, jump on the class warfare bandwagon, article. I am not saying there is no inequity that we need to correct but the picure painted by these two fine news organizations (Gag!) is less than honest.

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