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Thread: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by PeteEU View Post
    And that is a flaw with the study that it shows that the effective rate is below the statutory rate? It is the statutory rate that is being used as an excuse by the right to lower the tax rate, and yet as the study shows companies with larger than 10 million dollar revenue play 1/3 of that rate.

    You dont need to be comparative with other countries to see that this is wrong and unfair to not only the smaller and medium businesses (under 10 million in revenue), but to the consumer who do not have the ability to cut their effective tax rate by 2/3s and make up fictive losses to get money back from the government.

    The point of this study, is that there is now a study that pretty much validates all the claims that non conservative right wing tax people have been saying, and totally debunk the rights mantra about "having the highest corporate tax rate in the world". Most companies dont pay any where near that rate... in fact the 12-18ish% that the study shows that they actually pay... is way under the average corporate tax rate.. hell it is almost lower than that of low tax countries like Ireland.
    True tax reform, involves more than mere tinkering with effective/marginal rates. Over 80% of the federal income tax code involves establishing legal methods to reduce net income/AGI using deductions, credits, exclusions, deferments and some very strange accounting procedures.
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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by PeteEU View Post
    U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study



    Direct link to the report.

    http://www.gao.gov/assets/660/654957.pdf



    Wonder how the US conservatives are going to explain this one away..... I am guessing they are going to target the GOA as partisan or something similar.
    Did they follow the law when paying their taxes? If so why would you say the did not pay the legal tax rate?
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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by Heebie Jeebie View Post
    Did they follow the law when paying their taxes? If so why would you say the did not pay the legal tax rate?
    You clearly don't understand the motivation. Anything that shows that corporations aren't paying enough in taxes is fodder for the anti-corporate crowd. Instead of blaming the people who write the rules, they blame the ones who are following the rules. Naturally if they aren't following the rules there should be sanctions.

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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by Heebie Jeebie View Post
    Did they follow the law when paying their taxes? If so why would you say the did not pay the legal tax rate?
    The key word is rate. They pay less than the rate, not less than they are legally obligated to pay. Think of it as marginal vs effective rate.
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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by Redress View Post
    The key word is rate. They pay less than the rate, not less than they are legally obligated to pay. Think of it as marginal vs effective rate.
    No the key thing is not the rate at all. The key thing is did they follow the law and pay what they were legally required to do.

    If the rate actually had anything to do with the subject then there would not be any need to file taxes, the governemnt would just require businesses to send in a fixed portion of sales just like they collect Medicare taxes from companies.
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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by Heebie Jeebie View Post
    No the key thing is not the rate at all. The key thing is did they follow the law and pay what they were legally required to do.

    If the rate actually had anything to do with the subject then there would not be any need to file taxes, the governemnt would just require businesses to send in a fixed portion of sales just like they collect Medicare taxes from companies.
    You are just as confused about the report as PeteEU. The report looked at the corporate tax rate and the rate that was actually paid after figuring in deductions and the like. The tax rate directly influences the effective rate, but is not the same as it. No one is saying they did not pay what they are legally obligated to pay.
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Rate Shmate.... Did anyone think that with a tax code of how many thousands of pages was not going to be picked and prodded by corporations (or individuals for that matter) to finds ways to pay less than the documented rate? What he need to do is abolish the IRS and institute a flat rate tax, with no deductions and no exceptions. If you can move a decimal point, you can calculate your taxes. Remove the means to cheat and you can't cheat.

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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by Redress View Post
    You are just as confused about the report as PeteEU. The report looked at the corporate tax rate and the rate that was actually paid after figuring in deductions and the like. The tax rate directly influences the effective rate, but is not the same as it. No one is saying they did not pay what they are legally obligated to pay.
    No I'm not confused, the corporate tax rate has nothing to do with what percent of profit a company paid in taxes. Only idiots try to make a comparision between the two.

    If there is no problem with the amount they paid because they followed the law then why was this thread started?
    There is only one basic human right, the right to do as you damn well please. And with it comes the only basic human duty, the duty to take the consequences.
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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by Heebie Jeebie View Post
    No I'm not confused, the corporate tax rate has nothing to do with what percent of profit a company paid in taxes. Only idiots try to make a comparision between the two.
    Ummmm...what do you think happens to a tax bill when rates are cut? The two items are actually directly related.

    If there is no problem with the amount they paid because they followed the law then why was this thread started?
    A discussion about corporate tax rates and wether they should be reduced. Of course, according to you that would not effect how much taxes businesses pay...
    We became a great nation not because we are a nation of cynics. We became a great nation because we are a nation of believers - Lindsey Graham

    Quote Originally Posted by Fiddytree View Post
    Uh oh Megyn...your vagina witchcraft is about ready to be exposed.

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    Re: U.S. Companies Pay Just One-Third Of The Legal Tax Rate: GAO Study

    Quote Originally Posted by Heebie Jeebie View Post
    No I'm not confused, the corporate tax rate has nothing to do with what percent of profit a company paid in taxes. Only idiots try to make a comparision between the two.

    If there is no problem with the amount they paid because they followed the law then why was this thread started?
    I expect to indicate that those that say that US corporate taxes are too high, using the corporate tax rate as a comparison, rather then the effective tax rate, that in reality US corporate taxes are not that high.
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