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

  1. #61
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Mycroft View Post
    I agree.

    Unfortunately, that will never happen. Politicians will never give up a method that enables them to influence, coerce and control all American individuals and businesses.
    Yep.

    It's power for them to control.

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

    Quote Originally Posted by Born Free View Post
    First your statement of me not knowing the difference between statutory and effective is a ****ing lie.
    When have you ever posted anything that suggested you did know the difference?

    Second, all I did was quote the what was published in the site that I posted. Take up your argument with the author of the OP and tell him how stupid he is for not knowing the difference between statutory and effective.

    Third I would add that that corporations are leaving this country not because of low taxes, but because of high taxes.
    And that's why I said you don't know the difference between effective and gustatory. Actual average effective is about 12.5%, which is comparatively lower than the industrialized world which does not have the obscenely large amount of deductions and deferrals that makes the US system so convoluted. You don't know the difference and it's obvious you don't.

    Companies leave for a variety of reasons and companies move to the US for a variety of reasons. Until you demonstrate you know the difference between effective and statutory, there is frankly no reason to put any value in what you say here.

    And your ass 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.

    But of course liberals can't figure that out, all liberals want to preach is, geeeee there is a difference between statutory and effective. And then cry when a company leaves to acquire a lower tax base.
    Do you have anything other than partisan vomit to the hide the fact you literally don't understand what I'm talking about?
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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

    Quote Originally Posted by Montecresto View Post
    How many corporations effectively pay 35%? And did you even read the op?
    Born doesn't understand the difference between statutory and effective. He's just mouthing off.

    It's not hard really to understand...but you know partisan hackjobs.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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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?
    You have significantly reduced personal liability.

    Tell me why a sole proprietor should have total liability and 1 level of taxation and a corporation had very limited liability and 1 level of taxation.

    Not that I think you understand this topic at all.
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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

    Quote Originally Posted by Mycroft View Post
    I agree.

    Unfortunately, that will never happen. Politicians will never give up a method that enables them to influence, coerce and control all American individuals and businesses.
    No, the reason it will never happen is because no one in power is stupid enough to support a gross tax. No deductions at all? Tell me, how are grocery stores suppose to make any money when you charge then 4% gross tax?
    "If your opponent is of choleric temperament, seek to irritate him." - Sun Tzu

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

    Quote Originally Posted by obvious Child View Post
    No, the reason it will never happen is because no one in power is stupid enough to support a gross tax. No deductions at all? Tell me, how are grocery stores suppose to make any money when you charge then 4% gross tax?
    shrug...

    Who says they have to be charged a 4% tax?

    Hell...who says ANYONE has to be charged a 4% tax?

    You got any more strawmen?
    TANSTAAFL

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    ― Robert A. Heinlein, Beyond This Horizon

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

    Quote Originally Posted by obvious Child View Post
    No, the reason it will never happen is because no one in power is stupid enough to support a gross tax. No deductions at all? Tell me, how are grocery stores suppose to make any money when you charge then 4% gross tax?
    The idea of a flat tax with no deductions just proves that some people don't have a clue how business and the tax system work.

    They actually really believe that if I sell something for $2.00 and it cost me $1.99 to produce, I should pay taxes on the whole $2.00
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  8. #68
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Lord of Planar View Post
    We should just do away with all deductions, and tax at a fair rate.
    That's the right answer, but it will never happen. Not sure if it's a power thing, a stupidity thing, or what, but no politician seems to want to champion the obvious solution.

  9. #69
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by obvious Child View Post
    You have significantly reduced personal liability.

    Tell me why a sole proprietor should have total liability and 1 level of taxation and a corporation had very limited liability and 1 level of taxation.

    Not that I think you understand this topic at all.

    Advantages and Disadvantages of Sole Proprietorships

    The most common and simplest form of business is a sole proprietorship. Many small businesses operating in the United States are sole proprietorships. An individual proprietor owns and manages the business and is responsible for all business transactions. The owner is also personally responsible for all debts and liabilities incurred by the business. A sole proprietor can own the business for any duration of time and sell it when he or she sees fit. As owner, a sole proprietor can even pass a business down to his or her heirs.

    The IRS expects self-employed individuals to pay federal income tax throughout the year, and if you don't pay estimated tax each quarter, Uncle Sam can charge you interest and impose nonpayment penalties. As long as you earn income in a given quarter, you owe tax for that quarter. You must pay federal income tax, along with Social Security and Medicare taxes, known collectively as self-employment tax. The amount of federal income tax you pay is based on your adjusted gross income.
    In this type of business, there are no specific business taxes paid by the company. The owner pays taxes on income from the business as part of his or her personal income tax payments.

    Sole proprietors need to comply with licensing requirements in the states in which they're doing business, as well as local regulations and zoning ordinances. The paperwork and formalities, however, are substantially less than those of corporations, allowing sole proprietors to open a business quickly and with relative ease - from a bureaucratic standpoint. It can also be less costly to start a business as a sole proprietor, which is attractive to many new business owners who often find it difficult to attract investors.

    Advantages of a Sole Proprietorship

    A sole proprietor has complete control and decision-making power over the business.
    Sale or transfer can take place at the discretion of the sole proprietor.
    No corporate tax payments
    Minimal legal costs to forming a sole proprietorship
    Few formal business requirements

    Disadvantages of a Sole Proprietorship

    The sole proprietor of the business can be held personally liable for the debts and obligations of the business. Additionally, this risk extends to any liabilities incurred as a result of acts committed by employees of the company.
    All responsibilities and business decisions fall on the shoulders of the sole proprietor.
    Investors won't usually invest in sole proprietorships.
    Note: If the business is conducted under a fictitious name, it's up to the sole proprietor to file all applicable forms under the fictitious name or under doing business as (DBA). This, however, does not mean that the business is a separate entity from a legal standpoint. The sole proprietor remains liable even if he or she is doing business under a fictitious name.

    Most sole proprietors rely on loans and personal assets to initially finance their business. Some will elect to incorporate once the business has started to grow, while other business owners maintain their sole proprietorship for many years.

    Ownership rules: A sole proprietorship has one business owner.
    Personal liability of owner: Proprietor has unlimited personal liability for the obligations of the business.
    Tax treatment: Business entity is not taxed, as the profits and losses are passed through to the sole proprietor.
    Key documents needed for formation: DBA filing, business license
    Management of the business: Sole proprietor manages the business.
    Capital contributions: Sole proprietor contributes whatever capital needed.


    The two bolded statements are why sole proprietorship is no longer the preferred way to open businesses
    Most people now choose LLC's because it limits the liability to the assets held by the company....not assets held by the owner/owners
    “Most of the shadows of this life are caused by standing in one's own sunshine.”

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

    Quote Originally Posted by Fenton View Post
    Excellent !

    Corporations shouldn't pay taxes.
    Of course they should. The business entity receives a number of government benefits and taxes are the bill for them. I'm pretty indifferent about how that's done - property taxes are a decent way to charge local businesses for their share of local services for example - but IMO it's appropriate to level taxes on the entity, or the profits of the entity, as a way to match benefits and costs.

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