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Thread: Major profitable corporations are paying negative income taxes.

  1. #51
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    Re: Major profitable corporations are paying negative income taxes.

    Quote Originally Posted by Thunder View Post
    I don't hate small businesses.
    Couldn't prove it by me, the way you want to tax them out of business.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Major profitable corporations are paying negative income taxes.

    Quote Originally Posted by apdst View Post
    Couldn't prove it by me, the way you want to tax them out of business.
    I don't want to tax anyone out of business. Please stop lying about my beliefs.

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    Re: Major profitable corporations are paying negative income taxes.

    Quote Originally Posted by Thunder View Post
    I don't want to tax anyone out of business. Please stop lying about my beliefs.
    You want to set tax rates based on gross profit vice net profit. That won't work, so you must be trying to tax businesses out of business.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Major profitable corporations are paying negative income taxes.

    Quote Originally Posted by apdst View Post
    You want to set tax rates based on gross profit vice net profit. That won't work, so you must be trying to tax businesses out of business.
    no, I want corporations & businesses to have the same tax-rates as persons making the same income.

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    Re: Major profitable corporations are paying negative income taxes.

    Quote Originally Posted by Thunder View Post
    no, I want corporations & businesses to have the same tax-rates as persons making the same income.
    If you did that, you would lower corporate tax rates. You gotta make up your mind, seriously.

    Personally, I want to qualify for the earned income credit, unemployment and food stamps. Corporations are people, right?
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Major profitable corporations are paying negative income taxes.

    Quote Originally Posted by apdst View Post
    No, it's not. Corporations--just. like. individuals.--pay taxes on their net income, at whatever tax bracket that lands in, as it should be.
    Thunder said BEFORE deductions, so not sure what your disagreement is.

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    Re: Major profitable corporations are paying negative income taxes.

    Quote Originally Posted by washunut View Post
    Thunder said BEFORE deductions, so not sure what your disagreement is.
    I've already expressed my disagreement. If you owned a small business and you only profitted $40,000, do you think you're going to have $14,000 just laying around to pay to the IRS?

    Then, after Uncle Sam pulls your eyeballs out, you won't have any operating capital for the rest of the year. Better hope your debt burden is zero.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Major profitable corporations are paying negative income taxes.

    Quote Originally Posted by apdst View Post
    I've already expressed my disagreement. If you owned a small business and you only profitted $40,000, do you think you're going to have $14,000 just laying around to pay to the IRS?

    Then, after Uncle Sam pulls your eyeballs out, you won't have any operating capital for the rest of the year. Better hope your debt burden is zero.
    If a corporation has a net profit of $40K as you mentioned doesn't it have to pay 35% of that? Did not know there was a graduated rate for corporations.

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    Re: Major profitable corporations are paying negative income taxes.

    Quote Originally Posted by washunut View Post
    If a corporation has a net profit of $40K as you mentioned doesn't it have to pay 35% of that? Did not know there was a graduated rate for corporations.
    No! It doesn't! A corporation that nets 40 g's pays 15%.

    Oh and while you're trying to tax corporations a whole 35%, don't forget the state taxes they also have to pay.

    I know it may come as a surprise, but for a business to operate, it needs to actually keep some of it's money.
    Quote Originally Posted by Top Cat View Post
    At least Bill saved his transgressions for grown women. Not suggesting what he did was OK. But he didn't chase 14 year olds.

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    Re: Major profitable corporations are paying negative income taxes.

    Quote Originally Posted by apdst View Post
    No! It doesn't! A corporation that nets 40 g's pays 15%.

    Oh and while you're trying to tax corporations a whole 35%, don't forget the state taxes they also have to pay.

    I know it may come as a surprise, but for a business to operate, it needs to actually keep some of it's money.
    I don't want to raise the rate just did not know about the lower 15% bracket thanks for letting me know.

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