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Thread: Over 90% of the income gains in the first year of the recovery went to the top 1%

  1. #211
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    1) Exxon Mobil made $19 billion in profits in 2009. Exxon not only paid no federal income taxes, it actually received a $156 million rebate from the IRS, according to its SEC filings.
    Er uh...false...:

    http://www.politifact.com/truth-o-me...r-exxon-mobil/

    Considering it is the first on the list and opined to be the 'most' I will stop at this point and merely say...try again.

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Dickieboy View Post
    Er uh...false...:

    PolitiFact | Bernie Sanders says ExxonMobil paid no taxes in 2009, but that's inaccurate

    Considering it is the first on the list and opined to be the 'most' I will stop at this point and merely say...try again.
    I accept politifact's analysis:

    "We agree that the tax policy toward companies like ExxonMobil is a fair subject for debate, but we do think that Sanders' articulation of the facts in his floor speech was misleading, because he omitted several important caveats, including a failure to note that the $156 million number only refers to one specific type of tax -- U.S. income taxes. To his credit, Sanders did make that distinction in a June 9, 2010, speech, saying that ExxonMobil "reported to the SEC that not only did it avoid paying any federal income taxes, it actually received a $156 million refund from the IRS."

    Still, while focusing on the negative-$156 million figure and saying that the company "paid zero in taxes" in 2009 was eye-catching, it is, at best, misleading. And it ignores the fact that the company paid hundreds of millions in state income taxes, sales taxes and other types of taxes. We can't verify the company's claim that its net tax was $500 million in 2009, but it's incorrect for Sanders to say "paid zero in taxes." We rate his claim False. "
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

  3. #213
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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    You are the one that brought up the tax loopholes and now you are unsure of them??? Let me know when you make up your mind.
    You really are terrible at this. Quote from you in post 196, and I commented afterward:
    GE and other big corporations like Exxon weren't paying taxes under the Bush administration. And which party is it that wants to close the loopholes?

    Wall street changed their tune after Obama went after them. Look who they are supporting this time:

    "So who do they want to win in 2012? Based on contribution patterns so far, the overwhelming favorite of the Wall Street banks to win in 2012 is Mitt Romney."

    The Big Wall Street Banks Are Already Trying To Buy The 2012 Election
    My previous post was something along these lines back in post 157:
    Ability? How the **** do you propose to legislate ability? Opportunity is being crushed by regulatory burden on small businesses. The more onerous you make regulation on business without differentiating between small businesses and large, the easier it become for large businesses to put the small guy out.
    I didnt bring up tax breaks, you did.

    You should advertise for that goal post moving business, you have it down to a science.

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by OpportunityCost View Post
    You really are terrible at this. Quote from you in post 196, and I commented afterward:


    My previous post was something along these lines back in post 157:


    I didnt bring up tax breaks, you did.

    You should advertise for that goal post moving business, you have it down to a science.


    This from your link:

    "From 2001 through 2010, GE's total American corporate tax burden averaged 9.4 percent of its profits in American corporate income taxes compared to its 17.9 percent foreign tax rate."

    COLUMN-America is GE's tax haven: David Cay Johnston | Reuters

    So tell me, how many of those years was Obama president? It is in fact the president and the Democrats who propose to end the tax breaks and loopholes for companies outsourcing jobs, and the GOP that has been blocking them.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    This from your link:

    "From 2001 through 2010, GE's total American corporate tax burden averaged 9.4 percent of its profits in American corporate income taxes compared to its 17.9 percent foreign tax rate."

    COLUMN-America is GE's tax haven: David Cay Johnston | Reuters

    So tell me, how many of those years was Obama president? It is in fact the president and the Democrats who propose to end the tax breaks and loopholes for companies outsourcing jobs, and the GOP that has been blocking them.
    Ahem :
    From 2001 through 2005, GE paid almost identical tax rates on its profits, 19.3 percent in the U.S. and 19.7 percent offshore. During those five years GE reported 56.1 percent of its profits in the United States.

    But for 2006 through 2010 a number of significant changes show up in the fine print of GE's 10-K disclosures.
    Id say their tax burden went down under Obama thanks to his green initiatives that are little more than tax shelters for companies ready to take advantage of them.
    BTW, Immelt is voting for Romney.

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by OpportunityCost View Post
    Ahem :


    Id say their tax burden went down under Obama thanks to his green initiatives that are little more than tax shelters for companies ready to take advantage of them.
    BTW, Immelt is voting for Romney.
    That might be what you say, but it isn't what the article says.

    BTW, all the big Wall Street donors are also supporting Romney. I guess they found out Obama wasn't going to play ball.
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    That might be what you say, but it isn't what the article says.

    BTW, all the big Wall Street donors are also supporting Romney. I guess they found out Obama wasn't going to play ball.
    you mean they didn't get their money's worth after giving Obumble millions and millions in 2008?

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by TurtleDude View Post
    you mean they didn't get their money's worth after giving Obumble millions and millions in 2008?
    Exactly he refused to play ball and backed financial reform and attacked their low capital gains rates.

    Wall Street is backing a more sure bet this time around, the King of the 1%!!!
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by Catawba View Post
    Exactly he refused to play ball and backed financial reform and attacked their low capital gains rates.

    Wall Street is backing a more sure bet this time around, the King of the 1%!!!
    Only the most gullible of fools would believe that Obama isn't helping his 1% posse members.

    As I noted some of the 1% do better when there is less government, less parasites and less income stealers in office. And then there are those in the 1% who are parasites, big government leaches and income stealers. Like Obama's supporters

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    Re: Over 90% of the income gains in the first year of the recovery went to the top 1%

    Quote Originally Posted by TurtleDude View Post
    Only the most gullible of fools would believe that Obama isn't helping his 1% posse members.
    Follow the money:

    Analysis: Wall St. cash flows to Romney over Obama


    "(Reuters) - The captains of Wall Street have picked a presidential candidate for 2012 and it is Republican Mitt Romney, rather than Democratic President Barack Obama, campaign donation records show.

    The records released Tuesday by the Federal Election Commission illustrate a basic shift in political giving at the presidential level by the nation's financial elite.

    After a fling with Obama - the charismatic Democrat embraced four years ago during the severe credit crisis that erupted under President George W. Bush - Wall Street is backing Romney in a return to its largely Republican inclinations.

    Romney's six largest campaign contribution sources in 2011 were executives, family members and affiliated political action committees of Goldman Sachs, JPMorgan Chase, Morgan Stanley, Credit Suisse, Citigroup and Bank of America, according to the Center for Responsive Politics, a Washington, D.C.-based group that monitors campaign finances.

    The center said that the leaders of the six Wall Street giants -- which were rescued from ruin by U.S. taxpayers about three years ago -- have given $1.8 million to the Romney campaign."

    Analysis: Wall St. cash flows to Romney over Obama | Reuters
    Treat the earth well: it was not given to you by your parents, it was loaned to you by your children. We do not inherit the Earth from our Ancestors, we borrow it from our Children. ~ Ancient American Indian Proverb

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