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

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    Study: 30 top firms paid no federal income taxes

    Thirty large and profitable Fortune 500 corporations paid no federal income taxes between 2008 and 2010, according to a new study Thursday on corporate loopholes.
    In fact, the 30 companies enjoyed a negative effective income tax rate over the three-year period, even as they earned pre-tax profits of $160 billion, according to two think tanks, Citizens for Tax Justice and the Institute on Taxation and Economic Policy. A negative tax rate represents a tax benefit like a credit, not necessarily direct funds from the government.

    Pepco Holdings, a Washington, D.C.-area power company, had the lowest effective tax rate at negative 57.6 percent and 78 of the 280 Fortune 500 corporations studied enjoyed at least one year in which they paid an effective tax rate of zero or less.
    In addition, the average effective tax rate for the entire group of corporations studied over three years was only 18.5 percent, compared to the statutory rate of 35 percent.



    Its all a big lie and always has been...when these corps pay no taxs the rich pay no taxs and make MORE off of all the rest of us...
    Dont fall for the teapartys lieing crap people...the evidence they are lieing is all around you...


    Study: 30 top firms paid no federal income taxes - Tim Mak - POLITICO.com

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

    So you're for the tea party idea of a flat (or flatter) tax that eliminates the things you apparently believe are problems?
    Or perhaps you think government is the answer? *looks at greece, looks at the housing bubble, snicker*

    Really, what are you proposing?

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

    Quote Originally Posted by lpast View Post
    Thirty large and profitable Fortune 500 corporations paid no federal income taxes between 2008 and 2010, according to a new study Thursday on corporate loopholes.
    In fact, the 30 companies enjoyed a negative effective income tax rate over the three-year period, even as they earned pre-tax profits of $160 billion, according to two think tanks, Citizens for Tax Justice and the Institute on Taxation and Economic Policy. A negative tax rate represents a tax benefit like a credit, not necessarily direct funds from the government.

    Pepco Holdings, a Washington, D.C.-area power company, had the lowest effective tax rate at negative 57.6 percent and 78 of the 280 Fortune 500 corporations studied enjoyed at least one year in which they paid an effective tax rate of zero or less.
    In addition, the average effective tax rate for the entire group of corporations studied over three years was only 18.5 percent, compared to the statutory rate of 35 percent.




    Its all a big lie and always has been...when these corps pay no taxs the rich pay no taxs and make MORE off of all the rest of us...
    Dont fall for the teapartys lieing crap people...the evidence they are lieing is all around you...


    Study: 30 top firms paid no federal income taxes - Tim Mak - POLITICO.com

    oops put that in the wrong post sorry
    Last edited by lpast; 11-03-11 at 12:22 PM.

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

    Quote Originally Posted by Mach View Post
    So you're for the tea party idea of a flat (or flatter) tax that eliminates the things you apparently believe are problems?
    Or perhaps you think government is the answer? *looks at greece, looks at the housing bubble, snicker*

    Really, what are you proposing?
    No I think GOVT should force corporations to pay their fair share...if they had been doing that we wouldnt have a deficit or it woiuld be far less...

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

    Quote Originally Posted by lpast View Post
    No I think GOVT should force corporations to pay their fair share...if they had been doing that we wouldnt have a deficit or it woiuld be far less...
    Taxing corporations doesn't work, they just pass the increase in costs down to the consumers of their goods/services. All corporate taxes do is inefficiently generate revenue by increasing prices.
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    no. You cannot lose rights you do not have in the first place. There is no such thing as the right to have any weapon of your choice regardless of any other consideration. It simply does not exist.

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

    Quote Originally Posted by lpast View Post
    Thirty large and profitable Fortune 500 corporations paid no federal income taxes between 2008 and 2010, according to a new study Thursday on corporate loopholes.
    In fact, the 30 companies enjoyed a negative effective income tax rate over the three-year period, even as they earned pre-tax profits of $160 billion, according to two think tanks, Citizens for Tax Justice and the Institute on Taxation and Economic Policy. A negative tax rate represents a tax benefit like a credit, not necessarily direct funds from the government.

    Pepco Holdings, a Washington, D.C.-area power company, had the lowest effective tax rate at negative 57.6 percent and 78 of the 280 Fortune 500 corporations studied enjoyed at least one year in which they paid an effective tax rate of zero or less.
    In addition, the average effective tax rate for the entire group of corporations studied over three years was only 18.5 percent, compared to the statutory rate of 35 percent.



    Its all a big lie and always has been...when these corps pay no taxs the rich pay no taxs and make MORE off of all the rest of us...
    Dont fall for the teapartys lieing crap people...the evidence they are lieing is all around you...


    Study: 30 top firms paid no federal income taxes - Tim Mak - POLITICO.com
    The evil is always in the details. The study you are prancing around waving is total BS. The libtards that wrote it admit they fudged the data. They decided to ignore the asset write downs and good will impairments most of these companies booked. This adjustment caused many of the companies earnings to swing from a negative to a positive number. The BS authors went even further and decided to make a bunch of allocations, adjustments and data manipulations to create the data they relied upon to form their self serving opinions. That study supports one very old adage.........garbage in, garbage out. It's a shame you didn't read the crap before you posted it as legit.
    I love the smell of burning moonbat in the morning.

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

    Quote Originally Posted by lpast View Post
    Thirty large and profitable Fortune 500 corporations paid no federal income taxes between 2008 and 2010, according to a new study Thursday on corporate loopholes.
    In fact, the 30 companies enjoyed a negative effective income tax rate over the three-year period, even as they earned pre-tax profits of $160 billion, according to two think tanks, Citizens for Tax Justice and the Institute on Taxation and Economic Policy. A negative tax rate represents a tax benefit like a credit, not necessarily direct funds from the government.

    Pepco Holdings, a Washington, D.C.-area power company, had the lowest effective tax rate at negative 57.6 percent and 78 of the 280 Fortune 500 corporations studied enjoyed at least one year in which they paid an effective tax rate of zero or less.
    In addition, the average effective tax rate for the entire group of corporations studied over three years was only 18.5 percent, compared to the statutory rate of 35 percent.



    Its all a big lie and always has been...when these corps pay no taxs the rich pay no taxs and make MORE off of all the rest of us...
    Dont fall for the teapartys lieing crap people...the evidence they are lieing is all around you...


    Study: 30 top firms paid no federal income taxes - Tim Mak - POLITICO.com

    I don't know how accurate the details of the study are, but this is Corporatism, not Capitalism. These behemoths have a great deal more power than a "citizen" and that is wrong. Most of the time you will find that thses huge Corporate profiteers are in the Military/Industrial complex where profit is a "gift", not something developed by hard work, discipline, and creativity. Think $300 dollar hammers and toilet seats as the tip of an iceberg.

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

    Quote Originally Posted by lpast View Post
    Thirty large and profitable Fortune 500 corporations paid no federal income taxes between 2008 and 2010, according to a new study Thursday on corporate loopholes.
    In fact, the 30 companies enjoyed a negative effective income tax rate over the three-year period, even as they earned pre-tax profits of $160 billion, according to two think tanks, Citizens for Tax Justice and the Institute on Taxation and Economic Policy. A negative tax rate represents a tax benefit like a credit, not necessarily direct funds from the government.

    Pepco Holdings, a Washington, D.C.-area power company, had the lowest effective tax rate at negative 57.6 percent and 78 of the 280 Fortune 500 corporations studied enjoyed at least one year in which they paid an effective tax rate of zero or less.
    In addition, the average effective tax rate for the entire group of corporations studied over three years was only 18.5 percent, compared to the statutory rate of 35 percent.



    Its all a big lie and always has been...when these corps pay no taxs the rich pay no taxs and make MORE off of all the rest of us...
    Dont fall for the teapartys lieing crap people...the evidence they are lieing is all around you...


    Study: 30 top firms paid no federal income taxes - Tim Mak - POLITICO.com
    This propaganda, again?
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    Re: Study: 30 top firms paid no federal income taxes

    Quote Originally Posted by apdst View Post
    This propaganda, again?
    Another insightful, fact based, step by step, point by point intellectual refutation of the information.
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    Re: Study: 30 top firms paid no federal income taxes

    Quote Originally Posted by lpast View Post
    Thirty large and profitable Fortune 500 corporations paid no federal income taxes between 2008 and 2010, according to a new study Thursday on corporate loopholes.
    In fact, the 30 companies enjoyed a negative effective income tax rate over the three-year period, even as they earned pre-tax profits of $160 billion, according to two think tanks, Citizens for Tax Justice and the Institute on Taxation and Economic Policy. A negative tax rate represents a tax benefit like a credit, not necessarily direct funds from the government.

    Pepco Holdings, a Washington, D.C.-area power company, had the lowest effective tax rate at negative 57.6 percent and 78 of the 280 Fortune 500 corporations studied enjoyed at least one year in which they paid an effective tax rate of zero or less.
    In addition, the average effective tax rate for the entire group of corporations studied over three years was only 18.5 percent, compared to the statutory rate of 35 percent.




    Its all a big lie and always has been...when these corps pay no taxs the rich pay no taxs and make MORE off of all the rest of us...
    Dont fall for the teapartys lieing crap people...the evidence they are lieing is all around you...


    Study: 30 top firms paid no federal income taxes - Tim Mak - POLITICO.com
    I don't pay federal income tax either. I haven't for years; completely above board, btw. Democrats and the Left are ok with certain groups not paying any taxes. So what if we lump some fortune 500 companies in with all these other groups?

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