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

  1. #81
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    Re: 20 U.S. companies that paid 0% in taxes

    You guys are still arguing about the lie in the OP even though I showed proof it was a lie in post #39.

    What is it with you guys?

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

    Quote Originally Posted by 99percenter View Post
    http://finance.yahoo.com/news/the-in...145353359.html

    "Merck, the second largest pharmaceutical company in the U.S., actually had a negative effective tax rate of 7.5% during the second quarter, which means it got a tax credit. Eight of the 20 companies were in real estate or real estate-related businesses."

    Looks like the "job creator's" are overtaxed.
    I have no problem with this, our corporate tax rate is already too high. On top of that, a corporation that pays taxes is being double taxed because the shareholders get taxed again on their income.

    So what, these 20 only get taxed once, instead of twice? Big deal.
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Anthony60 View Post
    I have no problem with this, our corporate tax rate is already too high. On top of that, a corporation that pays taxes is being double taxed because the shareholders get taxed again on their income.

    So what, these 20 only get taxed once, instead of twice? Big deal.
    No, they're getting taxes zero times.
    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..

  4. #84
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by sangha View Post
    No, they're getting taxes zero times.
    Keep in mind, they must have a net income to pay income tax.
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Anthony60 View Post
    Keep in mind, they must have a net income to pay income tax.
    And as the OP demonstrates, one can have net income and still pay zero income tax
    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: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by Lord of Planar View Post
    So, as most of us want to simplify the tax code, you want to keep it complex?

    No Thanks.
    A VAT is no more complex than the RST in practice.

    Besides, simplicity isn't THE goal. Would you rather have an arguably slightly simpler RST under which businesses pay 40% of the RST and cause U.S. produced goods to be less competitive internationally, or have slightly more complex (in theory) VAT that allows U.S. producers to export products free of imbedded consumption taxes? I'd rather have one that works better and is better for U.S. producers.

    And if you want to simplify the code, then you need to get rid of special tax exemptions like the exclusion for employer provided health insurance, mortgage interest deductions, deductions for property taxes and state income taxes paid, deductions for charity, etc. It would raise your taxes if you take those deductions but it would be simpler!

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

    Quote Originally Posted by Lord of Planar View Post
    I looked at the first company listed. 2014 Q 2, Merck already paid $947 million in taxes. They expect to pay between $2.5 to 2.8 billion for 2014. I didn't bother checking the other nine. Maybe you should.

    http://phx.corporate-ir.net/External...F8VHlwZT0z&t=1
    I checked that out, and they had a tax BENEFIT of 947 million - aka a negative tax of $947. Here's how it was listed on the release:

    Income tax (benefit) expense (947) (409)
    Edit - I see, the full year expense is estimated at 2.5B. So you're correct. It's not equal to the amount they'll pay, but with an expense amount that large, you'd expect their tax liability to be significant.
    Last edited by JasperL; 08-15-14 at 02:47 PM.

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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?
    Dividends are income so are subject to income tax. What is unfair about that?
    Corporate profits are taxed under a separate corporate tax not income tax.

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

    Quote Originally Posted by iguanaman View Post
    Dividends are income so are subject to income tax. What is unfair about that?
    Corporate profits are taxed under a separate corporate tax not income tax.
    Well, you are taxing with the corporate income tax, then, when it is distributed to the shareholders as dividends, it is taxed again as income.
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    Re: 20 U.S. companies that paid 0% in taxes

    Quote Originally Posted by iguanaman View Post
    Dividends are income so are subject to income tax. What is unfair about that?
    Corporate profits are taxed under a separate corporate tax not income tax.
    Read post #89
    Liberals - Punish the Successful, Reward the Unsuccessful
    Liberals - Tax, Borrow, Spend, and Give Free Stuff
    Obama's legacy - President Donald Trump

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