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Thread: Boeing Paid No Federal Income Tax Last Year: Analysis

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    re: Boeing Paid No Federal Income Tax Last Year: Analysis

    Quote Originally Posted by TheNextEra View Post
    Yes, but to flip that the people (or the 47% according to Romney), are the bad guys to many conservatives. So the hypocrisy works both ways.
    Maybe we can agree there is enough hypocrisy in U.S. politics to inundate the entire political spectrum; with a little thought we might also agree that 47% reference is hyperbole.

    That 47% includes not only low income but also those who legally shelter/plan their income by obeying the tax code. The latter being a legislative situation.

    In my life, I've never met anyone who wishes ill toward the needy.

    Are there many who are aggravated by the administration of the govt. welfare program? That question gets an amplified bullhorn resounding YES. Therein lies part of the solution; blaming companies and persons who obey the tax code is only more rhetorical, "let's change the subject and find someone to blame for our poor decisions", diversion from reality. It's an example of promoting envy, blame, and hate divisiveness that many self anointed sages use to maintain power and influence.

    The Great American Game continues.

    Have a great day TNE

    Thom Paine
    Last edited by Thom Paine; 02-22-14 at 11:35 AM.
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    re: Boeing Paid No Federal Income Tax Last Year: Analysis

    Quote Originally Posted by Thom Paine View Post
    Maybe we can agree there is enough hypocrisy in U.S. politics to inundate the entire political spectrum; with a little thought we might also agree that 47% reference is hyperbole.
    Yes, there is as demonstrated by your own comment:

    It's an example of promoting envy, blame, and hate divisiveness that many self anointed sages use to maintain power and influence.
    I like the way you dismiss a criticism because it's criticism of hyperbole, and then criticize hyperbole while posting more hyperbole.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    re: Boeing Paid No Federal Income Tax Last Year: Analysis

    As an accountant, I get pretty damn sick of leftists with no economic brain to even pretend to have try to say things like "xxx pays no taxes".

    Go read a book.

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    re: Boeing Paid No Federal Income Tax Last Year: Analysis

    Quote Originally Posted by HenryChinaski View Post
    Boeing disputes the report’s findings, saying its federal tax rate was actually 26.4 percent last year. Chaz Bickers, a Boeing spokesman, said the analysis ignores a crucial part of the company's tax expense. When the Boeing decides to embark on building a new aircraft, its taxes are deferred to encourage investment that could take decades to materialize a profit. But once they actually deliver the aircraft, those deferred taxes turn into current ones.

    “Our current tax expense has been reduced somewhat in recent years by the very large investment we have made in American jobs, production facilities and research and development for our new airplanes -- they are taxes that largely are deferred until we begin to deliver our new airplanes (and get the revenue back from our investment) in high volume at steady rates,” Bickers wrote in an email to The Huffington Post.
    If you don't like the tax code, blame Congress. I was a successful business owner for 20 years. Miniscule when compared to Boeing, of course!!! But the theory's the same. I could never have grown my business had I had to pay taxes up front on the money we used to buy new equipment. Why is this so hard to understand? I'll tell you why: because we're always looking for the boogieman.

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    re: Boeing Paid No Federal Income Tax Last Year: Analysis

    Quote Originally Posted by MaggieD View Post
    If you don't like the tax code, blame Congress. I was a successful business owner for 20 years. Miniscule when compared to Boeing, of course!!! But the theory's the same. I could never have grown my business had I had to pay taxes up front on the money we used to buy new equipment. Why is this so hard to understand? I'll tell you why: because we're always looking for the boogieman.
    The money *you* used to buy equipment is depreciated, so you did pay taxes on most of it. Boeing however, did not due to tax breaks that they gave to Boeing.

    Do you think it's fair that they get tax breaks that you do not, or do you think the tax code should apply equally to all businesses?
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    re: Boeing Paid No Federal Income Tax Last Year: Analysis

    Quote Originally Posted by sangha View Post
    The money *you* used to buy equipment is depreciated, so you did pay taxes on most of it. Boeing however, did not due to tax breaks that they gave to Boeing.

    Do you think it's fair that they get tax breaks that you do not, or do you think the tax code should apply equally to all businesses?
    No, that's not true. Anything we purchased less than $10,000 (if I remember correctly) was an instant tax write-off. Some small portion of it was recovered when/if the equipment was sold. If over $10,000, it was depreciated over X years exempting future income from taxes until the entire amount was written off. And again, some small part was recovered when/if the equipment was sold.

    I think when an airplane costs $150 million to bring on line and the company has to earn $200 million before it can affford to pay for it, most especially in the airline industry, is ridiculous.

    Edit:

    I can almost guarantee that the small business owner is cheatin' the taxman far more easily and often than big business.

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    re: Boeing Paid No Federal Income Tax Last Year: Analysis

    Quote Originally Posted by MaggieD View Post
    No, that's not true. Anything we purchased less than $10,000 (if I remember correctly) was an instant tax write-off. Some small portion of it was recovered when/if the equipment was sold. If over $10,000, it was depreciated over X years exempting future income from taxes until the entire amount was written off. And again, some small part was recovered when/if the equipment was sold.
    Yes, you're right about there being a certain limit below which equipment can be completely expensed in the year of purchase. The same rule applies to Boeing. However, in addition to that Boeing got a tax break that was passed by Congress which does not apply to you.

    Do you think that's fair?


    I think when an airplane costs $150 million to bring on line and the company has to earn $200 million before it can affford to pay for it, most especially in the airline industry, is ridiculous.
    That statement implies that a company of Boeing's size cannot afford to make a $150 million dollar investment. I'm not sure that your question's premise is accurate.

    Edit:

    I can almost guarantee that the small business owner is cheatin' the taxman far more easily and often than big business.
    IMO, that would depend on how you define "cheating". If you only include deceitful claims, you're probably right. But I consider using profits to influence the tax code to be something less than fair play.
    Quote Originally Posted by matchlight View Post
    Justice Thomas' opinions consistently contain precise, detailed constitutional analyses.
    Quote Originally Posted by jaeger19 View Post
    the vast majority of folks that need healthcare are on Medicare.. both rich and poor..

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    re: Boeing Paid No Federal Income Tax Last Year: Analysis

    I like the idea of eliminating corporate and business taxes, but DC will never agree to it. It not only takes away their power to control others, but takes away a large share of lobbyists that grease their palms.

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    re: Boeing Paid No Federal Income Tax Last Year: Analysis

    Quote Originally Posted by sangha View Post
    Yes, you're right about there being a certain limit below which equipment can be completely expensed in the year of purchase. The same rule applies to Boeing. However, in addition to that Boeing got a tax break that was passed by Congress which does not apply to you.

    Do you think that's fair?




    That statement implies that a company of Boeing's size cannot afford to make a $150 million dollar investment. I'm not sure that your question's premise is accurate.



    IMO, that would depend on how you define "cheating". If you only include deceitful claims, you're probably right. But I consider using profits to influence the tax code to be something less than fair play.
    Then write to your Congress critter.
    Fool me once, shame on you.
    Fool me twice....shame on me.

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    re: Boeing Paid No Federal Income Tax Last Year: Analysis

    Quote Originally Posted by newpublius View Post
    First off, everybody outsources. Outsourcing has taken on a pejorative term and in its unqualified use obviously refers to importing things. So what? The average workers goes to work, specializes in that job, gets paid and then uses those wages to buy everything else that he or she needs. All of those things are outsources, many of them are imported. Particularly consumer goods of course.

    They're going to outsource paper and will buy trucks and do other things as well.

    Ultimately you can't say that companies outsourcing should pay 'double the tax' because obviously those laws would violate trade agreements.
    I do have negative feelings about businesses that take entire departments of their workers and dump them for overseas workers. Since I also proposed eliminating the tax, I suppose doubling it won't be very much.

    Many products are absolutely inappropriate for American manufacture. We can't make toys and things like that. But I've seen programmers lose their jobs to India and I'm tired of trying to transcend the accents of customer service workers overseas. So my concern is not about imported products, it's about administrative positions.

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