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Thread: 20 U.S. companies that paid 0% in taxes

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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Montecresto View Post
    I'm sure that market WATCH reads more than gdgyva!

    10 U.S. companies paying the least
    Why did these companies end up with such small tax liabilities?

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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Montecresto View Post
    I'm sure that market WATCH reads more than gdgyva!

    10 U.S. companies paying the least
    I noticed one thing at that link that is important. There is a graphic of American Airlines. The page 1 of 12 says:

    There are several ways a company can avoid paying taxes. One, the corporation loses large sums of money, and as a byproduct it pays no taxes or even gets tax credits. Another way to get federal tax benefits is through huge fines, mostly for illegal behavior, or behavior the government claims is illegal. Another way is through “acts of God,” such as damage from Superstorm Sandy. 24/7 Wall St. reviewed corporate tax payments for the top 150 companies by revenue. These are the companies paying the least—or no—taxes:
    One critical things they failed to say. Reimbursement/credits for federally mandated costs. Like added security after 911.

    Now I will look at the other 11 slides.

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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Born Free View Post
    Yeah I read it and I quoted it which is what you responded too. What I quoted with in the first sentence.

    However corporations are leaving this country not because of low taxes, it's because of high taxes. And Obama is going around claiming anyone that leaves the US to get a lower tax rate is unpatriotic. What is unpatriotic is Obama's refusal to reform the corporate tax laws so companies have no desire to leave.

    So whatever your claim is about who pays 35% means nothing, corporations are leaving because of high taxes. Now what is your argument?
    Corporations have no loyalty to America and they want the best of both places as noted by the Tribune below. Btw, taxes is but one reason that corporations seek to move abroad.


    Meantime, the billionaires and their tax-exempt front organizations wag their fingers at us voters and at Congress for maintaining one of the highest corporate income tax rates among developed nations. There's a grain of truth to this. Our top rate of 35 percent is higher than rates levied in the tax havens.

    Not mentioned is that our effective tax rate — the rate corporations actually pay after taking advantage of loopholes in our tax code — is actually less than most of our competitors' effective rates.

    http://articles.chicagotribune.com/2...tions-tax-code
    Last edited by Montecresto; 08-14-14 at 02:40 PM.
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Lord of Planar View Post
    I noticed one thing at that link that is important. There is a graphic of American Airlines. The page 1 of 12 says:



    One critical things they failed to say. Reimbursement/credits for federally mandated costs. Like added security after 911.

    Now I will look at the other 11 slides.
    Even among corporations that aren't pursing inversions, shifting profits offshore to avoid U.S. taxes is a huge problem. For example, American corporations reported to the IRS that subsidiaries in Bermuda and the Cayman Islands collectively earned profits equal to 16 times the gross domestic product of those countries, according to recent data. It's clearly impossible for companies to earn profits in a country that are exponentially larger than that country's entire economy, further proving companies are using accounting gimmicks to avoid U.S. taxes.

    http://edition.cnn.com/2014/07/22/op...reign-mergers/
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: 20 U.S. companies that paid 0% in taxes

    Burmuda taxed corporations at zero percent in 2012. That's pretty much impossible for the US to compete with, unless you happen to be one that thinks US businesses enjoying the benefits of doing business in America shouldn't contribute anything, which would be an entirely different topic than the op I realise.
    Killing one person is murder, killing 100,000 is foreign policy

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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Montecresto View Post
    Burmuda taxed corporations at zero percent in 2012. That's pretty much impossible for the US to compete with, unless you happen to be one that thinks US businesses enjoying the benefits of doing business in America shouldn't contribute anything, which would be an entirely different topic than the op I realise.
    Corporations should be taxed at "0". When dividends are issued to the shareholders they are taxed on that dividend as ordinary income.

    Worse yet, and you wonder why Corporations do everything they can to not pay taxes.

    Double taxation is a term used to describe the way taxes are imposed on corporate shareholders and on corporations. The corporation is taxed on its earnings (profits), and the shareholders are taxed again on the dividends they receive from those earnings.

    There is a continuing discussion about the fairness of taxing dividends in addition to taxing the corporation; note that the corporation itself pays tax on its profits and dividends are taxed to the individual shareholders.

    Corporate Double Taxation - Business Tax Law
    Last edited by Born Free; 08-14-14 at 02:59 PM.
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    Re: 20 U.S. companies that paid 0% in taxes

    After reading the 10 examples, I really wonder when the bailouts will stop. This appears to be what's going on. Unless the problems are cause by government regulations, then we need to just let them fail instead of wasting tax dollars on them.

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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Born Free View Post
    Corporations should be taxed at "0". When dividends are issued to the shareholders they are taxed on that dividend as ordinary income.
    I agree with this. I have argued several times that the owners are double taxed.

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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Lord of Planar View Post
    I agree with this. I have argued several times that the owners are double taxed.
    And where is the fairness in that?
    Liberals - Punish the Successful, Reward the Unsuccessful
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    Obama's legacy - President Donald Trump

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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Born Free View Post
    And where is the fairness in that?
    It's not fair at all, but most people don't care about facts.

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